February 26, 2005
Fidelity's human resources and payroll outsourcing drives growth
Fidelity Investments has reported that its payroll and human resources outsourcing businesses reached record levels for the second straight year, and now makes up about one-third of the company's revenue. CNN Money reports:
Fidelity also expanded its human resources and payroll outsourcing business at a time many corporations are trying to save money, leaving the sending of pay stubs and keeping track of workers' benefit records to outsiders like Fidelity.
"HR and payroll administration is the fastest growing part of our business as we've nearly tripled the number of employees and retirees services in the past 18 months," Peter Smail, president of Fidelity Employer Services Co. said about the outsourcing business.
Read more: Fidelity's outsourcing biz hits record
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