HEWITT ASSOCIATES

Hewitt Associates

Hewitt Associates

Introduction

Hewitt Associates (Hewitt) is a provider of human resource outsourcing and consulting services. Its services enable clients to develop, implement, and deliver strategies and programs that ensure effective human resources, business process design, administration, and technologies. The company primarily operates in the US and the UK. It is headquartered in Lincolnshire, Illinois and employs 23,000 people.

The company recorded revenues of $2,990.3 million during the fiscal year ended September 2007, an increase of 4.7% over 2006. Hewitt's consulting segment drove its revenue growth. The consulting segment's revenue grew on account of increased demand for retirement and financial management services as well as talent and organizational consulting services. The company reported an operating loss of $143 million during fiscal year 2007, as compared to $64.1 million in fiscal 2006. Hewitt reported net loss of $175.3 million in fiscal year 2007, as compared to $115.9 million in 2006.

Organization Overview

The company embraces new skills, legitimate aspirations and well-founded applied knowledge to form a coherent work-team operating in harmony with the company's spirit and completing projects on time and within budget. The Company's approach to the client needs is characterized by clear understanding of its requirements, mutual commitment and trust, in-depth capability to present and evaluate alternatives and delivery of substantiated final results.

A client-oriented organizational structure has been established enabling the provision of energy and environment-related consulting and outsourcing services to various categories of clients, such as: Administration, Industry, Utilities, and Buildings.

Moreover, proven expertise in and Management, Information Technology and Training underpin our interdisciplinary integrated approach. Its orientation is to maintain a leading position in the Greek market for energy and environment, as well as to expand its activities in new emerging foreign markets. A long track of records, of successful international assignments, with a focus on the emerging markets of Central and Eastern Europe, the New Independent States and the Mediterranean, have been developed.

The Company undertakes work mostly from the European Commission (EC) but it doesn't limit its activities only to the EC's projects. The EC though, is the biggest client of the Company, and the projects that Hewitt Associates undertakes for the EC attributes to the biggest part of the Company's turnover.

In so doing, Hewitt Associates is required to deliver its services following a large number of specific rules and procedures that the EC sets for its projects, in order to maintain a healthy relationship with the Commission, as Hewitt Associates would do for any client.

Furthermore, Hewitt Associates needs to be up-to-date with the latest developments in the fields of energy and energy and environment at an international level, because the project areas extend beyond Europe (e.g. of Southeast Asian countries, Middle-East countries, etc). Therefore, Hewitt Associates has adjusted its operation in order to be able to satisfy the needs of different cultures, where a different consulting and strategy is exercised according to the project country.

Hewitt Associate's Environment

Concerning its management, it has a strong internal consistency with the following characteristics:

* Style: professionalism, client centered, team work

* Skills: continuous ...