Advertisement

A Quick Guide to Making Open Enrollment Easier for You and Your Employees

A Quick Guide to Making Open Enrollment Easier for You and Your Employees
From Recruiter - October 26, 2016

Its about that time of year: open enrollment season, when employees get to choose or tweak their benefits options for the coming year. As an HR pro, its your duty to guide employees through the process and help them choose the benefits that best meet their needs. Depending on what your organization offers, though, that may be easier said than done. Health, dental, life insuranceeven, in some cases, pet insurance and retirement savings: Its a lot to keep track of, let alone explain to employees.

The good news this year is that SHRM has your back, with an extensive resource page dedicated to helping you and your organization navigate enrollment season smoothly and successfully. The page contains a lot of information, and its pretty much impossible to summarize it all in any useful way, so today, were simply going to take a look at some of the most important points:

Whats New This Year?

SHRM put together a video featuring its vice president of human resources, Bettina Deynes, that gives a quick overview of what employees should know about open enrollment this year:

One key point the video mentions is that experts predict employee-shouldered health care costs could rise by as much as 5 percent this year. The video also points out that health savings accounts (HSAs) are growing in popularity.The percentage of organizations offering HSAs increasing by 7 percentin the past year.

Benefits: A Critical Recruiting and Retention Tool

According to the forthcoming 2016 SHRM Strategic Benefits Survey, 61 percent of HR professionals say theyve adjusted health care benefits over the past year to help retain employees. Similarly, 65 percent say theyve made changes to help recruit new employees.

The message here is clear: Benefits arent just a nice thing your organization does for employees; theyre also powerful business tools that can help your company build and maintain a productive team of top-tier talent.

People are generally paying more attention to the employers benefits package than in the past, especially as it relates to health insurance post-ACA implementation, Deynes told us via email.Continuous, effective communication of total compensation beginning during the recruiting phase is important.

By total compensation, Deynes means all the ways in which an organization remunerates employees. While benefits are important to recruitment and retention, they are not the be-all and end-all.



Advertisement

Continue reading at Recruiter »