The growth of benefits technology is a natural progression of any company. Developing and changing your technology is a continuous process that must be successfully undertaken by companies who wish to remain competitive and offer its employees the best benefits.
A few reasons to change your benefits technology could be due to mergers, changes to your benefits program, new government regulations, or additions to existing plans.
Using up-to-date technologies for your benefits program is a worthwhile investment and offers many advantages. By modernizing your technology, your company can lower costs, aid HR processes, maximize the impact of the benefits and increase productivity. It will also greatly enhance satisfaction within employees, come enrollment season.
Here are some signs that could indicate that your benefits technology is outdated and should be upgraded.
Over-Reliance on Manual Processes
Manual processes have reached their expiry date and should be phased out of companies altogether.
While manually working through tasks can provide a quick fix, over time, complications and conflicts arise as problems pile up. If your benefits team uses manual processes for running your benefits program, it’s time to make much-needed changes and bring in up-to-date technology for faster and mistake-free processes.
Major Changes to Benefits Program
If your company has undergone changes in terms of mergers, acquisitions, management changes or alterations of your benefits plans, chances are, you will need to upgrade your benefits technology.
Smaller companies that offer straightforward benefits plans can afford to use manual processes or simple technology; bigger companies—with a large workforce offering complex employee benefits such as wellness programs, health plans that include HSA, and comprehensive edibility rules—must have the technology that supports such benefits.
A Frustrated Benefits Team
An important factor to consider while upgrading your technology are to assess the impact it will have on your benefits teams. Work out which processes are to be upgraded and then consult with your technology vendor so that your benefits team doesn’t get overwhelmed with the changes.
Secondly, consider the impact it will have on your employees. Is the new technology going to make it easier for them to understand, access and choose between benefits or is it going to make the process complicated?
Make sure that your company is compliant with government legislation and employee laws by having a technology vendor that reacts appropriately and quickly to changes. If not, you risk overwhelming your benefits teams and penalties for non-compliance.
Give your employees a fast and seamless experience by modernizing your benefits technology and enjoy a happier workforce!
Want To Design an Effective Employee Benefits Program? Contact JS Benefits Group!
Whether you are looking to create or revise your benefits package, our expert team at JS Benefits Group can help.
As a true and trusted employee benefits and wellness consulting company, JS Benefits Group provides tailor-made solutions to businesses in the Mid-Atlantic region.
With over two decades of experience designing practical, customized and effective benefits programs for businesses of all sizes, JS Benefits Group is your ultimate stop for a holistic Employee Health Benefits Programs.
Call (877) 355-6070 to schedule a consultation.