Technology in general is a retention tool — today’s workers are accustomed to and expect apps, adaptive technology, and electronic document sharing. That’s why implementing an employee and HR friendly benefits administration system pays off. If your organization is considering vetting new open enrollment technology, we suggest having a defined process:
Buying technology can be like buying a car – there are lots of available features, but you may never use them. It’s important to identify “must haves” vs “like to haves.” When you meet with different benefit enrollment vendors, you may be attracted to those bonus features. Ask yourself, do they save us time and money, or are they distractions? In other words, do they help you engage with your employees, and will they have a good return on investment
From HR to Benefits to Finance and IT – all of these departments have experts with a different point of view to help in successful system selection criteria and implementation. Involving them from the start will not only help avoid speed bumps in advance, but also build buy in. These do not need to be your departmental leaders. In fact, having staff who are closer to the day-to-day needs of employees (and the ones who must fix issues when they arise) are a valuable part of the mix. All implementations need buy-in to be successful and benefit from ambassadors across the organization.
Make sure the vendor clearly defines support options and how much a dedicated support team, if available, will cost. Also discover how much it will cost to build file feeds with insurance carriers after going live. Importantly, know how much you’ll pay for ongoing renewals. You don’t want to find yourself hostage to HRIS system consultants with large fees or be victims to unexpected hidden costs.
Data integrity measures are essential to reduce waste and errors during reconciliation; provide correct and timely invoicing and issuance of member ID cards from carriers; and leads to higher employee satisfaction.
Modern benefits enrollment technology does not just improve the user experience but provides the administrator with important key performance indicators. Flexible reporting capabilities are essential, but the ability to measure and monitor action items and system usage of this tool is invaluable.
The right benefits administration technology can address many communications and employee experience challenges, as well as inefficiencies. Learn 10 simple questions to ask to qualify the strength of your system. Download our Benefits Administration System Qualifiers Checklist now.
With more than 10,000 clients managed across our National Employee Benefits Practice, Risk Strategies delivers the high-quality, cost-effective, and compliant benefits programs and solutions employers need and employees value. Visit the Employee Benefits blog for the latest industry observations or contact us at benefits@risk-strategies.com.