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How to Streamline the Online Benefits Enrollment Process

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Most businesses have already implemented digital and automated accounting solutions, with research showing that nearly 50% of all accounting tasks can currently be automated — a number expected to reach 90% within five years. An outdated open enrollment process:

  • Creates frustration for employees: there's nothing more daunting and stressful than taking on a pile of complex paperwork every year to sort through benefit options, seek out answers, and fill out forms without guidance. In fact, at least 33% of employees don't understand their benefits, and it's likely because the process is still manual. 
  • Takes time away from upper management: when employees have many questions, upper management is expected to have the answers. Even more, they're expected to have time to answer all these questions — or, at the very least, point employees in the right direction. Online processes allow easy access to experts, cutting out upper management entirely and allowing them to focus on more important matters. 
  • Can be easily replaced with a digital process: the transition into an online benefits enrollment process can be smooth and quick. At Your Payroll Department, we understand you need to get back to business, so we get everything up and running as soon as possible. 

Here's everything you need to know about streamlining your online benefits enrollment process. 

LET'S GET ONE THING STRAIGHT

The most important thing you can do as an employer is value your employees over everything else — if you don't, none of the following ideas will apply. Your employees are your most valuable assets, so prove it to them by going above and beyond with benefits. This can include multiple health insurance packages that meet the unique needs of families and individuals, and when possible, robust benefit contributions that show your team you care.

Anything you can do to make sure they know they are valued, do it. If you don't, another employer will be more than happy to make them feel appreciated.

According to a survey reported by Business Insider, 73% of respondents said they were currently considering quitting their job — one of the top reasons for leaving being 'lack of benefits.' 

PRIORITIZE DIGITAL

While some employees prefer paper, digital tech should be your priority. Not only is it more efficient and faster, but digital tech allows instant access to documents. This is significant because many employees get too caught up with their busy schedules and need to address benefits on their own time. 

However, different age groups prefer different methods. To appeal to all, consider a little bit of both where the enrollment process is online with the option for benefits to be printed for those who prefer to make comparisons on paper. 

Make it easy for employees to compare plans and understand the benefits of each one:

  • Offer 24/7 digital access so that they can do it easily on their own time
  • Utilize easy-to-navigate dashboards that make the user experience simple

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INCLUDE BROKERS AND EXPERTS

Nobody is able to communicate the benefits of each package quite like those who sell it, and it's no secret how complex the benefits enrollment process can be. Include brokers in the process to ensure that employees have all the access to information they need to make their decisions. 

Brokers and experts can help by:

  • Guiding employees through each process individually.
  • Teaching employees how to navigate the new online platform.
  • Offering access that fits the employee's busy schedule. 

COMMUNICATE. COMMUNICATE. COMMUNICATE.

Communication is key throughout the entire process. Beginning with pre-enrollment, make sure that crucial dates are discussed and packages are understood. Throughout enrollment, offer support to your team members by way of one-on-one chats with brokers or additional decision-making information.

You could also create FAQs that make communications easier and more accessible. A great way to ensure you're addressing the most commonly asked questions about online enrollment is to:

  • Research the topic online (i.e., what are the biggest employee challenges with the online benefits enrollment process?)
  • Survey your employees
  • Consider problems employees have had in the past

Finally, you'll want to provide plenty of reminders and check-ins so employees don't miss out. More often than not, employees hear about open enrollment, intend to address it in the near future, and forget about it because it isn't always in their line of sight. Reminders keep everyone on track and show that you're committed to getting them the most out of their benefits.

STREAMLINE YOUR ENTIRE PAYROLL PROCESS

Your online benefits enrollment process isn't the only part of payroll that should be digitized and automated. Everything from invoices and timesheets to online access to W-2s, W-4s, paystubs, and personal information should be available online. This is because employees have more control over their information without taking up too much of HR's time, saving time for themselves and the HR department. 

Combine Your Payroll Department and online benefits enrollment into one single digital platform. Reduce wasted time on tedious tasks and human errors, improve employee access and understanding of important payroll information, and ensure the entire process is safe and secure with the right partner.

When you're ready, contact us for more insight and resources into making the online benefits enrollment process as easy and efficient as possible for your employees.

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