Normandin Beaudry Company Profile

Background

Founded in 1992, Normandin Beaudry is a Canadian consulting firm specializing in actuarial and total rewards services. With offices in Montréal, Toronto, and Québec City, the firm employs approximately 350 professionals dedicated to enhancing human capital and financial performance for a diverse clientele across Canada. Their mission is to deliver excellence through a total rewards mindset, offering services in areas such as group benefits, pension and savings, investment consulting, compensation, health, performance, and communication.

Key Strategic Focus

Normandin Beaudry's strategic focus centers on providing comprehensive total rewards consulting services. The firm specializes in:

Group Benefits: Designing and managing employee benefit programs.

Pension and Savings: Offering expertise in pension plan design and administration.

Investment Consulting: Providing guidance on asset management strategies.

Compensation: Developing competitive compensation structures.

Health and Performance: Implementing programs to enhance employee well-being and organizational performance.

Communication: Crafting effective communication strategies to support HR initiatives.

The firm targets a broad market, including major corporations, small and medium-sized businesses, para-governmental organizations, municipalities, and non-profit organizations.

Financials and Funding

As of 2024, Normandin Beaudry's estimated annual revenue is approximately $87.9 million, with a revenue per employee of about $251,250. The firm has experienced a 5% growth in employee count over the past year. Specific details regarding funding history and valuation are not publicly disclosed.

Technological Platform and Innovation

Normandin Beaudry has developed "The Journey of a Skillful Employee™," an innovative, person-centered approach that empowers employees to take control of their professional development while aligning with organizational needs. This approach integrates career pathways with business strategies, competency profiles, and coherent compensation structures, providing clear prospects for professional growth and salary progression.

Leadership Team

Éric Montminy: President and Actuary, joined the firm in 1998. He has over 30 years of experience in actuarial consulting and assumed the presidency in 2010.

Nathalie Gingras: Chief Operating Officer and Actuary, joined in 1993. She has been instrumental in strategic growth decisions and has led the group benefits team.

René Beaudry: Co-founder and Actuary, established the firm in 1992. He focuses on innovation and complex pension plan issues.

Leadership Changes

In 2010, co-founder René Beaudry transitioned the presidency to Éric Montminy, allowing Beaudry to concentrate on innovation and complex pension plan challenges.

Competitor Profile

Market Insights and Dynamics

The human resources consulting industry is characterized by a competitive landscape with firms offering a range of services from actuarial consulting to total rewards strategies. The market is driven by the need for organizations to attract and retain talent through comprehensive compensation and benefits packages.

Competitor Analysis

Normandin Beaudry's competitors include:

Endrix: Provides accounting, audit, and consulting services.

Pretmex: Offers financial solutions, including credit services.

Fullerton Financial Holdings (FFH): Operates in the financial sector with a focus on investment management.

Saravana Stocks: Engages in brokerage services within the capital market.

These competitors offer overlapping services in financial management and consulting, positioning themselves in various niches within the industry.

Strategic Collaborations and Partnerships

In October 2023, Normandin Beaudry joined MBWL International as an equal partner, expanding its consulting reach globally. This partnership enables the firm to offer international support to Canadian organizations with cross-border requirements.

Additionally, in September 2023, Normandin Beaudry partnered with SuccessFinder, a firm specializing in predictive behavioral talent assessment. This collaboration integrates SuccessFinder's assessment platform into Normandin Beaudry's talent management processes, enhancing their "Journey of a Skillful Employee™" approach.

Operational Insights

Normandin Beaudry differentiates itself through a collaborative and transparent approach, emphasizing client satisfaction over billable hours. The firm fosters a culture of knowledge sharing and teamwork, which has contributed to its growth and reputation in the industry.

Strategic Opportunities and Future Directions

The firm aims to reduce employment inequalities by promoting equity, diversity, and inclusion within organizations. This objective aligns with their mission to create and consolidate healthy environments that generate human and financial performance for clients.