For most organizations, at the already chaotic end of the business year also comes the open enrollment period for employee benefits. While that may offer exciting opportunities for updates, it also requires the evaluation of options, modifications, follow up and confirmation communications. Employees have many questions and want as much information as possible to make the best decision for them and dependents. How can your HR team provide the best support without being overwhelmed by all of the details? Here’s a look at how using human capital management software can assist your company during this busy time.
The Advantages of a Human Capital Management System
An HCM system allows you to automate your benefits enrollment process, establishes a place to store, compare and contrast comprehensive information about individual plans, and report on relevant data. HR specialists can more easily manage all the changes and updates for employees across the organization, and they can maintain for themselves a better resource for answering questions and assisting employees, and handle all of the communications that go alongside each step of the process.
As the open enrollment period approaches, be sure to address key factors such as:
- Integrating workflows to provide departments with relevant information
- Creating automated deadlines and related notifications
- Working with your carriers on any system or process changes
- Designating trained contacts for when issues arise and to handle the increased support/call volume
- Sharing valuable benefits information in a variety of formats for employees (fact sheets, online resources, videos, etc.)
- Setting up an electronic approval process
- Planning for how to analyze the data for future maintenance
Of course, your HCM provider should be able discuss the best practices for each of these steps in full. With their help, you can decide how best to implement the new approach based on the priorities of your company.
Educating Your Employees
After you introduce the technology into your open enrollment process, you’ll need to make sure that everyone knows how to interact with the system.
- HR Specialists. All members of your human resource team should become thoroughly knowledgeable and trained on how to use the software, in addition to being familiar with the specifics of benefits program changes and updates. A few key members should be chosen as the experts on the system, and designated to interface with your provider. These advanced points of contact can make sure that there is always someone who can answer a question–or know how to find someone if needed.
- Employees. For true success during open enrollment, each employee must feel comfortable using the portal individually to select and manage his or her own benefits information. Host workshops & webinars, post times during which team members can come and log on, in the company of your specialists, and post answers to frequently asked questions. Make sure that employees know that the benefits portal is a tool to support them, and that your HR team is still always available for assistance.
Open enrollment for benefits can be an overwhelming time, with more employee requests than usual and new details to take into account for every response. It requires a lot of time and energy. The right HCM system should take some of the initial pressure off of your HR team and give control to the individual employees, both groups become more empowered to make decisions and facilitate a successful and smooth open enrollment period.
It’s that time of year! Contact us to get started on a whole new way of approaching benefits open enrollment and boosting your employee engagement at the same time. For best practice tips from our experts download our free Open Enrollment white paper.
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