Helping a Growing Hedge Fund Save Time and Resources with Highly Personalized HR

The Challenge

This growing, 15-employee hedge fund was focused on maximizing investor returns, while also attracting new employees, and wanted to completely remove the daily responsibilities of HR administration. Due to their size, company leadership was responsible for self-serving their own accounts, which occupied valuable time they preferred to direct toward growing the business.

The firm was comprised of highly compensated individuals who were accustomed to benefit solutions commensurate to their compensation packages. These professionals had sophisticated and unique requirements for increased insurance coverage and limits typically not available to small employers or at the group level. These included enhanced benefits like executive-level medical plans, long-term disability, and group life insurance coverage.

These individuals also had limited time and little desire, to self-serve their own HR requests, so leadership required a dedicated resource to administer and handle all HR management on their behalf.

Ultimately, the firm wanted access to a comprehensive, yet simple, seamless, and agile solution they simply couldn’t obtain on their own.

The Solution

Given the size of many hedge funds, employing a full-time HR person isn’t always practical. On the recommendation of their broker, company leadership reached out to ExtensisHR who
proposed its PEO Premier® solution. ExtensisHR PEO Premier® is a fully managed concierge human resources outsourcing solution, with a dedicated team of professionals to handle all responsibilities normally residing with customers in a traditional PEO arrangement.

This high-touch model was especially appealing to leadership because it offered exclusive access to VIP and luxury HR services and experiences, including a single point of contact, elimination of self-service, healthcare advocacy, and a dedicated employee support line.

Leadership made it clear from the beginning that they needed a partner who could limit distractions and onboard and implement this solution without any disruption to the business or employees.

One company leader explains, “We weren’t educated in the world of human resources, and we didn’t have time to learn. Our dedicated ExtensisHR account manager stepped in immediately to set up our account, enrolled all our employees in their benefits and 401k plans, and more. I would advise any privately owned business to look not just at how much money you’re wasting, but how much time, too. The professionals at ExtensisHR flawlessly and completely manage everything for us, giving our employees more time to focus on business needs instead of spending time entering data into a portal.” 

PEO Premier® enabled the hedge fund to bring all aspects of HR management into alignment with a single, responsive partner to provide an exceptional employee experience with outcomes including:

• A full-service team that eliminated the need for employees to self-serve
• An exclusive suite of products and services typically not available to small employers
• Least disruptive way to handle human resources
• Complete payroll entry and management with just a single approval
• Peace of mind that complex HR regulatory and compliance requirements are met and addressed
• And more

The Results

In-house leadership counted immediate and significant time savings by completely shifting and outsourcing all HR responsibilities to ExtensisHR. PEO Premier® proved to be a win for all parties involved. Leadership and stakeholders received the exact solution they were looking for, and the countless hours saved allowed employees to focus on generating positive returns for their clients.

The added perks and benefits needed to attract and retain talent helped the firm recruit a highly sought after, top-tier employee. He stated that the vast network of ultra-exclusive HR and benefit services, and experiences available to both him and his family, were a major decision in choosing to join the firm.

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