How Technology Helps Companies Administer Employee Benefits

 

What kind of benefits are you offering your employees? Do you offer just the basics, or are you up there with companies like Apple and Google? Maybe you are somewhere in between.

Employee benefits play a big role in recruiting and keeping current employees happy. 79% of employees stated that they stay, or would stay, with a company because of the benefits package.

Professional benefits administrators have the important job of designing, implementing, and managing benefits programs for a company. They also introduce new technology to help streamline the benefits offered to employees.

How Technology Helps Companies Administer Employee Benefits

A+ benefit packages help you recruit and keep A+ employees. Using new employee benefits technology streamlines the process of administering these all-important perks. What can this technology do for you?

1. Easier Employee Benefits Enrollment

Is your company still using pen and paper for data collection? Is someone responsible for manually entering all of the data to enroll employees into the system?

Not only are these activities time consuming, but there are also many chances for errors. An automated, online system allows for data collection and access from anywhere. This is especially important for companies with multiple locations.

Benefits technology also allows administrators to track and evaluate the needs of the employees based on their interactions with the online system.

All of the benefits offered can also be consolidated on an online portal with payroll systems and insurance. Very efficient!

2. Communication, Education, and Engagement

Many businesses place enrollment responsibilities on their owners/managers, or a member of their HR team. Are these responsibilities too much?

Do your employees have time during the workday to manage benefit questions and requests? Do they know how to answer a variety of enrollment related questions?

Having 24/7 access to messages, forms, documents, and summary of benefits through an online enrollment portal is very valuable to employees. Your company can successfully communicate your benefit offerings to employees, while also providing them with a helpful resource.

An online benefits resource library also keeps employees in the know. FAQs and newsletters can be posted in one online portal, providing employees with up-to-date information. Benefit guides and overviews can also educate employees about all plans being offered.

3. Cloud-Based Management of Benefits

Employee benefits management is shifting to the cloud. Using a cloud-based system puts all of the players (brokers, employees, employers, insurance carriers) on an accessible platform.

The cloud is also secure. It backs up the information after your initial backup and erases the need for all that paperwork. It also offers greater accessibility at a lower cost.

It’s a win-win for your benefits plan.

Should You Invest in Benefits Technology?

Streamlining the business of employee benefits will free up time to deal with the most important aspects of your company making it key to a company’s long-term success.

If you have questions about benefits technology, then contact the professionals at GIGA Solutions. Our Benefits Division helps business owners gain access to benefit offerings and assistance with administration, education, implementation, and enrollment. They also help build plans specific to a single business, offering flexible packages and sensible pricing.

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