As employers enter the second-half of the year, many HR professionals are also rapidly approaching their company’s Annual Enrollment (AE) period. AE is the busiest time of the year for most benefit teams – but planning a successful AE doesn’t have to be stressful.
In today’s tight talent market, benefits are an increasingly important factor in determining employee satisfaction and company success. Proactive HR leaders are staying ahead of the curve by empowering participants with personalized resources to meet their diverse needs. How does your approach compare?
Employee benefits can be a demanding part of your daily business – but this doesn’t have to be the case. A best-in-class benefits administration partner will give your team the boost needed to make the most out of each day. But what should you expect from a premier provider?
Staying ahead of risks is a critical priority for HR leaders, but ever-evolving regulations and shifting complexities make it challenging. Concerns can quickly spiral into major issues that are costly and time-consuming to resolve – but smarter solutions will help you take a more proactive approach to human resources risk management.
Benefits are one of the most important and influential factors affecting employees’ job satisfaction. 84% of employees that are highly satisfied with their benefits also say they are highly satisfied with their job.1
Benefits administration technology is reshaping the way employees engage with their benefits – and decision support tools are a significant factor driving this change. To accommodate the needs of a diverse workforce, however, HR leaders must consider the quality and context of the resources they leverage.
Annual enrollment (AE) is approaching fast. For all the time and effort HR teams dedicate to this yearly event, however, many employees remain disinterested or anxious when it comes to shopping for their benefits. How can you and your team ensure a successful annual enrollment?
In response to rising pressures, many employers are turning to high deductible health plans (HDHPs) to meet the needs of both their businesses and employees. Combined with an health savings account (HSA), an HDHP can prove to be a mutually beneficial option for both businesses and workers, but your success is dependent on how these options are strategically approached and supported.
HR leaders make it their mission to protect and provide for employees, most notably through the benefits they offer. Competitive coverage is not just critical for recruitment and retention purposes; it also has tremendous effects on the well-being and security of employees and their families. As health insurance premiums rise, however, the cost of this coverage continues to have a huge impact on employees’ wallets and companies’ bottom lines.
Results from this year’s Empyrean Annual Enrollment survey indicates HR leaders’ growing interest in consumer-driven plans, as well as the need to maintain strategic control to adapt to rapid business changes.
More and more employers are exploring automated solutions to address the increasingly complex challenges of administering their employee health and welfare benefits programs. Today, 6 in 10 employers feel overwhelmed by the increasing complexity of their benefits program management.1 However, some HR teams hesitate outsourcing these functions due to five common myths and misconceptions.
Whether outsourcing your benefits administration for the first time or making the switch to a new vendor, it’s important to consider your current and future responsibilities and goals alongside your internal capabilities. Which route best aligns with your benefit needs and challenges?
Today HR can utilize a traditional benefits administration offering, marketplace or private exchange, or – with the support of a modern technology platform – implement both simultaneously to execute a hybrid strategy. But each organization faces unique challenges, meaning no strategy is a one-size-fits-all. To determine the right fit, employers must carefully consider strategic and technological options alongside their current and future needs – and also determine their employees’ needs as benefit consumers.
There are many factors to consider when evaluating a prospective benefits administration platform. While the technology powering your solution is a critical component, it is not the sole indicator of future success. Given the complex and ever-evolving nature of employee benefits, even the most robust tools require knowledgeable service and support to realize optimal efficiency.
Seeing a potential platform in action is an important part of any technology decision. However, there are several elements that are difficult to judge during a demo – but can end up having the biggest impact on your solution’s overall success.