Many businesses are looking to modernize their BenAdmin systems, especially after having to go through yet another headache inducing open enrollment. For many businesses, something seems off. HR feels like entering data is time consuming and not efficient. Not to mention their system just isn’t keeping up with their needs. They know it’s time to upgrade.
There are a countless amount of solutions on the market, so it’s important for businesses to understand what good technology looks like. Too often, businesses suffer “technology regret” – the overwhelming sense of disbelief that their new technology didn’t enhance benefits administration at all. To avoid tech regrets, businesses should make sure their new system will have the following features:
When it comes to benefits technology, connectivity is crucial. Benefits technology should be able to link with payroll, medical, dental, and vision carriers, as well as third-party platforms. When your BenAdmin system can connect to other HR systems of record, data will flow seamlessly between them all. The flow of data eliminates the need for duplicate data entry and manual work.
HR serves as a critical company resource. HR shouldn’t have to do manual work when they could focus on more strategic initiatives like recruitment, retention, and engagement.
Data is essential for helping HR leaders in making strategic decisions that benefit their employees and the firm.
Employers have a wealth of data housed in their benefits technology, but they may not be able to access it. Sometimes, employers can’t access that data without submitting a help desk ticket to their technology vendor. Data belongs to the employer — they shouldn’t have to jump through hoops for it.
Good benefits technology allows employers access to their data through reporting tools, dashboards, analytics, and notifications.
In an on-demand world, self-service is increasingly crucial. Employees want to make critical benefits decisions on their own terms — at home with input from their families. That’s why benefits technology should be accessable and intuitive from any device.
Technology should also equip employees with the tools they need to stay informed on their benefits. With decision support functionality, employees can learn more about copays, deductibles, co-insurance, in-network and out-of-network costs, prescription drug benefits, and more. When employees understand their benefits, their open enrollment experience and satisfaction with their employer’s benefits package will be much greater.
Avoid Technology Regret
Technology is supposed to be an asset. Don’t look at technology that doesn’t have connectivity, self-service, and data functionality — it’s only going to cause more needless headaches in the future.
Working with the right technology partner will connect you to best-of-breed platforms and will be with you every step of the way. From build out, implementation, and on-going support, working with a technology partner is a critical element to your HR strategy.