Choosing a Benefits Administration Platform
To say choosing a benefits administration platform is a hefty undertaking is an understatement. Not only will it affect how an organization accesses benefits, but overall employee satisfaction, as well.
The hurdles don’t stop there. With an increasing number of benefits platforms to choose from and the unpredictability of healthcare, choosing the right benefits administration platform partner is more important than ever.
Prior to evaluating a benefits administration platform’s technology features, first take a close look at their business model. Is the company an all-in-one solution, operating solely as a system provider or both? Is the pricing manageable or within budget? While all-in-one systems seem to perform adequately, more and more organizations are turning to the ‘best-in-breed’ concept for their ability to offer more. This approach deploys the best vendors on the market for solutions such as payroll, talent management, time tracking, learning management systems, and benefits administration.
Client Service and Employee Support
Once you’ve assessed the benefits providers' business model, review the client service, decision support and communication tools. One of the biggest pain points benefits professionals face is providing ongoing support and education about benefits to employees. Consider the size of your organization and the volume of inquiries it has around benefits and whether the provider in question can offer quality client service and support.
Questions to consider:
- How many client-facing employees do they have?
- How do they measure client satisfaction?
- What is the turnaround time for responding to requests?
- Can the client support team speak with authority on your benefits offerings?
System Capabilities Technology Features
In today’s digital world, it’s not surprising that the workforce expects a certain level of technology when accessing their benefits. In other words - it should be easy, fast, and accessible anywhere. How does your benefits administration platform match up to the needs of tech-savvy employees? Consider the overall user experience, accessibility and how it integrates with your carriers, HCM and payroll systems.
In a recent blog post, we discussed the importance of a seamless migration process. This is an extremely important factor as it could be the first impression your employees have of the new benefits administration platform – and a rocky implementation could mean salty opinions that are hard to shake (regardless of how great its capabilities are). When it comes down to it, implementation is more than a technical process; it involves building a solid strategy to ensure both a smooth transition and maximum utilization of its features once it’s complete.
4 Things to Consider When Choosing a Benefits Administration Platform Partner
- Business Model
- Decision Support
- Technology Features
- System Implementation
Now that you know what to look for in a benefits administration platform partner, it’s time to download our E-Book for more tips, tricks and strategies for transitioning to a new benefits administration provider.