Open enrollment dread is nothing new. You’ve likely read the click-bait headlines: “Nearly half of employees would rather talk to an ex or walk on coals than complete open enrollment.” Despite the availability of technology and employer resources, open enrollment continues to be a tedious and time-consuming task.
Outdated benefits enrollment is bad for business.
In fact, it could be the reason your clients are struggling with retention. According to our recent survey of more than 1,100 employees, 64 percent say a poor enrollment experience could lead them to look for a new job.
Additionally, manual processes could hinder your clients from focusing on what’s important. Our recent survey of HR leaders revealed that 42 percent spend four to ten hours a day answering repetitive HR questions including those related to benefits.
Providing your clients with an intelligently connected human capital management (HCM) platform that includes benefits administration automates open enrollment and improves the employee experience.
Here are four ways your clients can benefit from benefits enrollment technology that is part of an integrated suite.
Their employees are more engaged
With intelligently connected HCM, employees access a single system to perform basic HR tasks like onboarding, requesting time off, viewing paystubs, accessing learning management classes and more. When benefits administration is part of that system, the experience is enhanced, and the employee is engaged. Thirty percent of employees say the ability to use technology that’s connected to anything else HR-related is an important feature for benefits enrollment.
They are more productive
An intelligently connected platform allows benefits enrollment and administration to integrate flawlessly with payroll, HR and other core processes. Automation enables benefits to be accurately calculated based on employees’ information while compliance regulations are handled without the need for manual input. Premiums are calculated automatically based on enrollment details and subtracted from payroll without error or delay. As a result, your clients spend more time focusing on strategic initiatives and less time worrying about compliance concerns.
They are future ready
Artificial Intelligence (AI)-powered tools are on the rise and can create a more personalized enrollment experience without employees having to interact with HR. According to our AI at Work whitepaper, employees are open to the idea. 68 percent believe AI will improve the employee experience and 66 percent would look favorably upon employers that use it. Employers with access to this technology are viewed by their employees as technologically advanced.
They get a competitive advantage
While there is no disputing the benefits of an intelligently connected platform, most employers aren’t leveraging one. According to our survey, only 47 percent of employees say they elect benefits electronically through a platform that’s integrated with other HR tasks. Providing this technology to your clients can give them a competitive edge. And in turn, give you an advantage in the market to help you win more business.
Your clients deserve an intelligently connected benefits enrollment solution that automates their processes and delights their employees. isolved People Cloud can deliver.
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