Sure, your business may already have a benefits admin platform in place. But is it really doing your company any favors? The fact is, a halfway solution could be worse than no solution at all. If your benefits admin platform is resulting in frustrated employees, slow response times, and arduous reporting, then your company could be suffering from decreased employee engagement and wasted payroll hours.
Before you decide the system you have in place is adequately handling your company’s needs, ask yourself these questions:
- Are our enrollment methods entirely online?
Providing a smooth benefits enrollment process is key. Besides removing barriers to employee enrollment and improving their engagement in the benefits section process, online enrollment eliminates a host of issues raised by paper enrollment. If your benefits enrollment still predominately features your HR team’s presence for face-to-face enrollment and eligibility documentation, you’re probably facing substantial expenses in time and travel. Online enrollment improves outcomes and saves money—it’s just that simple!
- Are our core and voluntary benefits plans integrated online?
How many websites do employees need to access in order to use and manage their benefits? If the answer is more than one, you’re already looking at decreased employee satisfaction and increased labor from your HR team. The right benefits admin platform can integrate access to multiple plans and programs from one web portal. At WBD, we do so with the Supersite, which ties all of a company’s benefits together in one easy-access, customized site.
- Are our employees engaging with our benefits?
The term “employee engagement” keeps coming up — because it’s important. Employees who are engaged with their benefits are investing in their company at a personal level, instead of just showing up every day to do their job. Engaged employees have a deeper level of commitment to their company, reducing turnover and increasing retention rates. Dropping the costs of recruiting, hiring, and training alone could be a significant savings when switching from a subpar benefits platform.
Employee engagement is so important, a 2013 Gallup survey found companies with engaged workforces have higher earnings per share, and showed quicker recovery from recession periods.
If you already have a benefits admin platform in place, but it’s not doing what your team needs to move forward and increase engagement, lighten the workload, and perform at high levels, it’s time to consider what WBD can do for you. Learn more about how WBD has transformed benefits as usual for major clients across the U.S. with these case studies.
And explore the functionality of our Supersite and other ben admin innovations here.
How can WBD help your company move forward? Contact us now.