Xerox Corp. has completed its plan to separate into two independent, publicly-traded companies, thereby spinning off its human resources arm, which included Buck Consultants, into a new business process services company called Conduent HR Services.
The new company will continue to provide employers with human resources consulting and outsourcing solutions that focus on their employees’ health, wealth and career aspirations, says Greg Fayarchuk, Canadian leader for Conduent HR Services.
“Businesses and governments are facing higher expectations from the people they serve: employees, patients, citizens and even higher expectations from consumers,” says Fayarchuck. “They are increasingly looking to partners like Conduent to help them face these challenges.”
Conduent will focus on “automation, analytics and innovation,” according to a press release, which Fayarchuk explains as the broader use of technology and analytics to help employers solve local, regional and global human resources issues.
“For the HR industry in Canada, employers should expect their providers to offer a technology and engagement focus that will enable them to have strategic and efficient control of their HR and benefits activities, while providing employees with anytime, anywhere access to their benefits,” he says.
Conduent has more than 93,000 employees in some 40 countries. Under the separation agreements, Xerox shareholders received one share of Conduent common stock for every five shares of Xerox common stock they held as of Dec. 15, 2016.