HR technology was already on the rise before Covid-19, as business leaders strive to better inform their employees of their benefit options and keep them up to date, as well as save themselves valuable time. The pandemic accelerated this trend, as employers worked to provide additional help and resources as needed. As noted by HR Executive, total investments in benefits and wellness technology amounted to $2 billion in 2021.
The Value of Easy Access to Benefits
Focus on the employee experience.
As noted by industry expert George LaRocque, it’s important to always be thinking about the experience your employees are having, including those instances when benefit matters come into play. This applies throughout their tenure with your organization, from onboarding through open enrollment periods and/or major life events.
“Employees aren’t experts in benefits, so they get thrown into these environments where having a system that can be more intuitive, remember you, make recommendations, and provide more assistance in making those (benefit) selections provides a better experience,” says LaRoque.
Use technology to relieve employees’ benefit pain points.
Here are some ways you can leverage technology to your advantage as you enhance employees’ benefits experience. At the same time, you’ll free up more time for you and your senior leadership team to focus on other business-critical areas:
- Use chatbots. Employees can have a conversation with one of these AI-based systems when they’re seeking answers to benefit-related questions. Chatbots are intuitive, intelligent, and accessible 24/7.
- Go digital to improve efficiency. Transferring your data from paper-based records to a digital platform will significantly improve access to benefits and reduce the workload for both you and your employees. Localizing data in a benefits administration platform and integrating it with providers and payroll is a major step forward in building efficiency.
- Streamline processes. Online enrollment gives employees greater access and control over their benefit options. HR-provided guidance can further help as people make their own decisions and, at the same time, have the ability to enroll at any time and from any place.
- Make compliance easier and more effective. There are mountains of data involved in benefits administration, and maintaining compliance is an ongoing challenge. But if you integrate it all on a digital platform, the task becomes much easier as employees take ownership of their own data. For instance, if someone has a qualifying event such as a marriage, divorce or the birth of a child, they can input that information directly. This will trigger a notification to their HR rep that they have initiated an event, and the system administrator simply has to approve or decline it. This not only solidifies compliance, but also prevents your employees from any lapses in coverage.
Want to Find the Best Solutions for Your Organization?
Benefits and related technology are a lot of work – and the administrative landscape changes constantly. Would the help and expertise of an outsource provider be helpful for your company? Key HR is aligned with leading preferred provider companies to offer the most innovative ways to meet our clients’ benefits administration and other ongoing talent management needs. To discuss the best solution for you and your workforce, reach out to us today.
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- On July 27, 2022
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