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As benefits open enrollment is underway, or getting ready for the next time it is, you want to manage the process in such a way as to create a lasting positive impression on your employees.
You may want to consider availing yourself of professional enrollment services to alleviate your HR department of much of the work load. But whether you outsource enrollment or handle it in-house, it's your benefits package and you need to think about what to offer, how to promote it, and how to get the most out of the open enrollment event.
Here are 5 ways to improve your benefits enrollment this year:
1. Integrate Employee Education
Open enrollment classes, seminars, and hand-outs should be focused on the needs and wants of your employees. And one way to do that is to integrate employee education into the whole benefits enrollment process.
This means several things:
Each corporate situation varies, and not all businesses can offer every possible benefit. But if you were going to add a new benefit, "flex spending accounts" (FSAs) would be high on the list.
An FSA allows a worker to save pre-tax money from each paycheck in a special account that can later be used for two things: certain health care costs (up to $2,650) and care of children or dependents (up to $5,000.)
Paying less taxes is always a happy affair, so you can be sure this benefit will be easy to market to your employees!
3. Use Multiple Means of Communication
Most employees, sadly, do not take full advantage of offered benefits, and many are not even aware of many of them. And around 90% of employees simply continue with the same benefits set-up year after year even when they would be better off making a change.
Part of the solution to low employee engagement levels in the enrollment process is to communicate early, often, and in diverse forms.
Put up signs around the workplace, send out emails, hand out flyers and brochures, and make announcements concerning offered benefits and enrollment deadlines on the loudspeaker. And have at least one mandatory benefits enrollment related meeting that all employees must attend.
4. Get Professional Help
One of the best ways to get new ideas and to improve the process is to hire a professional firm to consult with you on, or even directly manage, the open enrollment period. And, in fact, many companies even outsource benefits management in general, which saves HR even more time and resources.
5. Get Employee Feedback
Finally, take surveys, ask for questions and suggestions during meetings/classes, put out an anonymous comments box (be brave!). Make it clear you want and value the opinions of your employees on how to improve both benefits offerings and the enrollment process for next year by actually taking action and addressing the feedback you receive. Be sure your employees understand you intend to really use this information.
To learn more about how to improve your benefits and benefits enrollment, contact us at Summerlin Benefits Consulting. We offer full services related to maximizing your benefits-based competitive edge.