Should anyone feel surprised by things employers don't know about employee benefits? Certainly, too much information and too little time keep us from knowing everything about today's business world.
In addition, today's HR employees have an unprecedented task volume. For example, what happens when payroll, insurance enrollment, and compliance training all hit on the same day? You and your colleagues know how that goes.
4 Things Employers Don't Know About Employee Benefits.
We know some very important things employers don't know about employee benefits. Consequently, we think that you'll appreciate learning about four of them. Take a look:
1. You Can Automate Benefits Management.
Benefits management automation helps employees with ...
2. Employee Benefit Automation Eases Retention Problems.
Traditional corporate management meant "Us and Them" groups. The "Us" team controlled and delegated resources. The "Them" team members, on the other hand, managed their lives around them.
That never worked as an effective employee retention strategy. Luckily, automation helps break the Us/Them barrier. That's because it provides equitable access to a resource management platform. In other words, the janitorial staff and the CEO work on the same platform.
With automation, employees will never feel that the higher-ups get preference. Basically, all employees get the same high-quality service.
Statistics show that benefits automation makes for happier employees. For example, a Global employee survey data reported that ...
"81% of employees who can easily access their benefits said they feel loyal to their employer. ... 79% of employees who can easily access their benefits said they were proud to work for their organization.”
3. Automated Employee Benefits Management Saves Money.
Benefits management automation reduces HR hours. Of course, your CFO understands that benefit. In addition, automation helps businesses raise their bottom line in other ways.
For example, automated benefits management saves through better coverage at a better price. That is to say, as insurance and benefits brokers, they have greater access to diverse plans and policies.
Traditional insurance agents, unlike strategic benefits advisors, only sell from their partner company. As a result, with automated services from a broker, your business saves money over traditional coverage.
4. Businesses Use Automation to Replace HR
If your business has an HR department, you know that it's a big expense on your balance sheet. That's why many businesses have downsized or even eliminated HR departments through automation.
Even if you're not looking to downsize or eliminate HR staff, your company can automate functions to free up HR employee time. Obviously, automation of tasks gives them more time to focus on connecting with employees. As a result, they can provide better quality services, such as onboarding, offboarding, and conflict resolution.
The Last Word on Things Employers Don't Know About Employee Benefits
In conclusion, your company can easily automate benefits management. Additionally, a qualified strategic benefits advisor can save your business money while providing better coverage. Finally, automation improves employee retention and helps minimize or even eliminate HR staff.
Do you want an inside edge on improving your business's benefits administration? Mention the four things employers don't know about employee benefits to an experienced strategic benefits advisor and insurance broker.