Modernizing your benefits process can be both beneficial for you and for your employees.
For you, it can make it:
- Simpler to manage
- Easier to track and report on
- Easier to communicate benefits more consistently
For your employees, it can:
- Bring more awareness to benefits and their respective details/fine print
- Make benefits more accessible to everyone
- Give employees more privacy around benefits and whatever challenges they may be experiencing
What does modernizing your benefits look like?
Technology plays a huge role
Modernizing your benefits becomes significantly easier when you have the right tools and technology in place.
Not only does technology help facilitate the above for you and your employees, it also helps:
Maintain stronger organization internally and across departments
Having a system that tracks what benefits are offered, who participates in what benefits or how often they are utilized, makes organization of your programs easier. And when your benefits are organized, everything else from education, reporting, benefits changes and communication of programs easier to manage. This especially becomes important in tracking to see where benefits are utilized and where they aren’t so you can make changes if you need to provide for your employees in the ways they want.
Allow employees to educate on their own without relying on you or your team
Open enrollment is a great time to educate employees about programs, but that’s just a few weeks of the year. Some benefits offered are voluntary and aren’t dependent on open enrollment to participate. Rather than answering the same questions over and over, with an online tool, your employees can actively research and educate themselves on what is available to them as long as they know it is there for them.
Provide quicker visibility into what programs are useful and which may not be
When you understand which programs employees are utilizing, you gain a better understanding of where your employees are at mentally, physically and financially. Especially in the last few years, we’ve seen how important benefits are to employees. They trust the benefits provided to them because they know they’ve been vetted by you. However, some benefits may not be as widely utilized simply because they just aren’t what employees need today. If that’s the case, maybe it means that other benefits should be prioritized and implemented. This visibility can be critical to providing your employees what they need, when they need it.
Communicate benefits faster and easier
With a system in place, it is much easier to facilitate the communication and education of benefits. Does it sync with your CRM or email automation tool? Can you easily incorporate information for your employees to let them know that these programs are available? This is a great opportunity to be more proactive for your employees as well. Many times, we’ve heard that employees had no idea that some benefits were available to them. This could be because they skipped over it during open enrollment or weren’t paying attention, but nonetheless, having a tool to easily communicate benefits throughout the year makes for happier and more productive employees.
What tool do you use to keep your benefits organized?
TrueConnect’s Financial Wellness Platform is a no cost program that takes little effort to implement and manage. Want to learn more about TrueConnect’s Financial Wellness Platform? Click here.