Outsourcing Benefits Enrollment
New Employee Benefits Enrollment Can Save About 30 Mins Per New Hire
Open enrollment means that your new employees get to sign up for benefits as soon as you hire them. While this is great for them — after all, imagine being hired in February and finding out benefit enrollment doesn't happen again until the end of the year — it can also be a major time suck for the employers. For this reason, a growing number of companies are turning toward outsourcing benefits enrollment.
What Outsource Providers Do
When an outsourced company takes over your benefits enrollment process, it gathers a team of experienced benefits administration professionals. Those professionals are knowledgeable about local, state, and federal laws surrounding the benefits you must provide and can assist your employees through the entire education and enrollment process. They relieve the burden from your shoulders and even minimize the risk of compliancy issues, all while using the most up-to-date technology for the job.
Reasons To Consider It
Outsourcing benefits enrollment has several benefits. For one thing, it makes your employees have a better experience, since the outsourced company often has more time to communicate and provide technologically advanced tools. Outsourcing also saves you time so that you can focus on other parts of your business, provides you with affordable professionals, and even keeps costs lower since you are less likely to make mistakes in providing employee benefits.
How It Works
Outsourcing companies focus on education, enrollment, and management. First, they teach employees about the enrollment process, including what each benefit is and whether it will be a valuable addition to his or her comprehensive package. During enrollment, they provide easy-to-use online enrollment tools and 24/7 access to the application process. Finally, they help employees manage their benefits by tracking how useful each one is and following a communication plan. They can even help your employees change plans when needed. This is especially preferable for employees who intend to expand their family in the future or otherwise change dynamics that may require more healthcare, life insurance, or other benefits.
When choosing a company for outsourcing benefits enrollment, ensure you work with a reputable one. Only hire a business that has a solid reputation, strong reviews, and is licensed and insured to provide services in your area. Furthermore, ensure you hire one that knows your specific industry. This way, their professionals will understand the type of employees you have more easily and be able to better accommodate their needs. Remember, the more satisfied your employees are, the better their work ethic will be.