benefits administration

Employee benefits are often a cornerstone of an organization’s employee engagement strategy. According to MetLife’s 14th Annual (2016) U.S. Employee Benefit Trends study, only 45% of employees say they are planning to be with their employers in 12 months, making benefits a key mechanism for helping retain valuable workers. 

How many companies outsource benefits-related functions? Short answer: more and more. Two recent studies both demonstrate this dramatically. The third annual Guardian Workplace Benefits Study found that one-third of employers now outsource all of their benefits administration, a 65% increase since 2013.
Three business areas where automation could improve efficiency and save time and money.
According to the 2012 Open Enrollment Survey of the Aflac WorkForces Report, over half of employees make mistakes with their benefit elections, leading to $750 million in annual waste. In part, that’s due to a “perception gap:” half of employers believe they have communicated effectively with employees about their benefit programs. Try these tips to help employees elect the right options in your benefit program.
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