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Benefits administration is a critical component of human resources management, and it plays a significant role in ensuring that employees receive the compensation and benefits they deserve. Benefitfocus Benefitfocus specializes in benefits technology solutions, providing a platform for benefits enrollment, communication, and analytics.
Two-fifths of older employees are unaware of how much they have saved for retirement, according to research by workplace savings and pensions fintech Cushon. Providers need to be embracing technology and simplifying how savers engage with their pensions removing jargon and offering apps allowing people to easily manage their savings.”
As you think about the changes you want to make to your employee benefits offerings, now is the time to talk benefits technology too. The first part of the year is a good time to audit what’s working and what’s not, and to go over any feedback you got from employees about the open enrollment process.
However, the benefits enrollment process can be tedious for HR, and both tedious and confusing for employees. Benefits enrollmenttechnology can streamline this process, making it more efficient and less cumbersome for everyone. What do you need to know about benefits enrollmenttechnology to make the right choice?
Taking the time to understand and respond to feedback can foster a positive work environment and ensure employees are getting what they need. Andreas Hunter, head of wellbeing at Gallagher, says: “Organisations should review employeeenrolment and flex data to provide insights.
Motivated employees are not only more productive but also more engaged, leading to better outcomes for the organization. With the advent of technology, new tools have emerged that can inspire and energize your team like never before. However, motivating a diverse workforce requires more than just traditional incentives.
When it comes to benefits technology, don’t be wooed by the promise of carefree enrollment and administration. But not all benefits technology is created equal. Benefits technology platforms promise a better way to manage HR functions. If you want to move to a better benefits technology solution, consider why.
Increased Efficiency with Benefits Administration Technology. For 2017, 92 percent of employeesenrolled in benefits programs, with voluntary benefit participation rising markedly. A total of 3,332 employeesenrolled during open enrollment. Here’s how. This level of engagement gets results.
Benefits decision support has come a long way since employees had to fill out endless forms while reading nearly inscrutable jargon explaining what their benefit options were. Health insurance is still difficult for employees to understand and use efficiently. Benefits Decision Support for Flexible Benefits Packages.
Thanks to technology, AI, and more personalization, we’re in a consumer-first age unlike any other. More dental and vision Among employers with benefits administration through WEX , 68% of eligible employeesenrolled in vision and 77% of eligible employeesenrolled in dental. Benefits options matter.
The open enrollment landscape has changed dramatically thanks to video communications technology like employee training videos. You might think of training videos as only making sense for new employees’ onboarding experiences or other training sessions.
Many organizations learn the hard way that the only way to implement some employee communications programs, particularly those involving new technology , is to undergo a top-to-bottom digital transformation. There’s no point trying to solve ongoing issues with quick, temporary fixes. Overlooking the Individual in Change Management.
As open enrollment is right around the corner, now is the time to make a plan to maximize employeeenrollment and help your staff select the health plans that best suit them. Here are some pointers to make open enrollment fruitful for both your staff and your organization.
It is important to ask both your ben admin technology and payroll providers about costs associated with standing up an API. For example, will an employeeenrolling in the benefits platform a month prior to their effective date cause an issue for the payroll system? Are there timing considerations or limitations with the API?
Your employees make a lot of decisions during their work day, but one of the most important decisions they’ll make comes once a year: what to do about their employee benefits. Putting calculators and flowcharts on the enrollment portal provides convenient information for employees when they need it. Call center support.
Once you’ve completed a detailed evaluation of last year and identified what employees want, set your goals and objectives. In addition to improving weak spots of past enrollments, identify any specific benchmarks you would like to reach, such as boosting the number of employeesenrolled in dental plans by X amount.
Assessing open enrollment and employees’ overall involvement in benefit offerings should be a big part of any year-end HR checklist. Obviously you and the providers you select for your benefit offerings need to know how many employeesenroll in each plan. If not, it might be time for a change.
This ensures that organizations can stay up-to-date with the latest HR best practices and technologies. Benefits Administration HRIS systems simplify employee benefits enrollment and management through benefits administration features.
By Kisha Moliere It is common to think of benefits administration technology (ben admin) platforms as a tool that only facilitates employee benefits enrollment and transfers benefits eligibility data between carrier and payroll systems. Be mindful that not all decision support tools are created equal.
Let them know one month ahead of time when annual enrollment is coming. Then, a week before enrollment begins, send out another reminder. Using today’s technology, you could even use a text message notification system, if needed. If your company is making annual changes, be sure your employees understand: What they had.
Let them know one month ahead of time when annual enrollment is coming. Then, a week before enrollment begins, send out another reminder. Using today’s technology, you could even use a text message notification system, if needed. If your company is making annual changes, be sure your employees understand: What they had.
One of the most difficult aspects of annual open enrollment is reaching workers who are disengaged from the process and never bother signing up for your group health plan and other benefits they could take advantage of. They want information that helps them get the most bang for their buck.
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