Guest Post By: Kira Charron, Collage
Like so many industries before it, employee benefits is making the move to digital.
We’re not just talking about some app that can track your employees’ steps or find yoga classes nearby. Digital employee wellness brings the kind of mobile, user-friendly technology we’ve adopted in everyday life (think of online banking, booking a flight, or ordering a cab) to the overly complex world of employee benefits and retirement plans.
Employee wellness technology can eliminate time-wasting tasks, reduce administrative costs, and help employees get better coverage for themselves and their families.
More Canadian benefits advisors and businesses are making the move to digital benefits management. If you’re looking to be among them, here are a few of the game-changing advantages you can expect:
Automation instead of administration
At most organizations, managing employee benefits is a paper-heavy, pencil-pushing affair. The administrative burden placed on HR is enormous. Not only is the work tedious, it’s full of complex rules.
Employee benefits technology simplifies and automates the work, lifting the administrative burden and ensuring better compliance.
Through online benefits enrolment, for example, plan admins can completely eliminate paperwork, data errors, and the risk of late enrolments. Employees simply log in and complete their enrolment in minutes, greatly improving information accuracy and plan participation. The technology even checks for missing fields and automatically sends data to carriers. This can shorten the enrolment process from weeks to hours.
Self-service instead of endless office hours
Benefits managers tend to be the person in the office wearing the most hats (and yes, they are usually a department of one). Along with managing compliance, HR, employee leave, and internal communications, they spend a lot of time answering employee questions and needs.
Self-serve benefits portals let employees find and manage their information from any device, 24/7. They can learn about their coverage, add or remove a dependent and even update their coverage details online. No phone calls, meetings, or pesky Q&A.
Plain English instead of painful jargon
There’s no use offering an amazing employee benefits plan if your team doesn’t understand it. Even worse, complex jargon can cause employees to select the wrong coverage by accident. Unfortunately, 60-page, jargon-filled benefits booklets are still the industry norm.
In contrast, modern employee benefits platforms are all about the user experience. Communications are in plain English and delivered on mobile devices. Simple online forms guide employees through each step of enrolment and plan changes. Employees can better understand their options, feel more confident, and make the right choices about their insurance.
All-in-one instead of all over the place
Employee wellness is about much more than dental and vision. Group benefits are closely connected with employee records, time off, payroll, retirement and more. Keeping track of all this data in siloed spreadsheets or multiple platforms that don’t speak to one another is just asking for headaches.
Benefits management technology integrates seamlessly with HR, payroll, pensions, and carriers. When employee data is updated in one place, it’s automatically reflected everywhere.
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Personal instead of transactional
Digital employee wellness doesn’t just make life easier for plan sponsors. Benefits advisors can use the same technology to reduce their own administrative burden, lower costs, and deepen their relationships with clients.
When advisors aren’t bogged down by compliance and filing of physical paperwork, time spent with clients can be less transactional and more about developing a true partnership to help employers and their people lead healthier lives.
Adopting employee benefits technology
The insurance industry wasn’t built with consumers in mind. Complicated products and processes limit how much advisors can offer, which has real costs for employers and their people.
Through online enrolment and self-serve platforms, benefits technology makes complex, time-consuming processes simpler, more intuitive, and more helpful. The result? Higher engagement, more participation, and better outcomes for employers and their people.
Collage is a Canadian HR, payroll, and benefits management platform. Collage’s HRIS platform automates the critical administrative tasks required to onboard and continuously manage employees. Additionally, Collage’s benefits administration software gives businesses and their people the tools to manage their benefits enrolment, plan changes, and compliance entirely online. Find out more at www.collage.co