Benefits administration is one of the important tasks your HR team takes care of. Without it, your employees wouldn’t be able to utilize their benefits package to its full extent. In turn, your employees probably wouldn’t be nearly as satisfied with their jobs.
Efficient benefits administration is also key to keeping your employees happy, as well as keeping costs low in the HR department. Administering benefits can quickly become a time-intensive task. How can you save time on benefits administration without sacrificing quality?
These five strategies could help.
1. Use Technology to Get a Helping Hand with Benefits Administration
One of the best things you can do when you want to get a handle on benefits administration is to upgrade the technology you’re using. An online solution might be better than a pen-and-paper method, but more advanced technology can help you more.
Consider a human resource information system. With its integrated functions, it can help you not only save time on benefits administration but on other tasks around the business as well. It can even help you connect to your carrier’s system for the most frictionless benefits administration experience yet.
2. Consider Using an Employee Self-Service Portal
Another technological solution you might want to consider is the employee self-service portal. Self-service options are becoming more and more popular, and not just with employers and HR teams.
Employees love them too, since they allow employees to access information and manage their benefits in a way that’s more convenient. It also saves time, as employees can fill in their paperwork when it’s convenient, and they have the most accurate information available to them.
3. Be Sure to Educate Your Employees about Their Benefits
Another easy way to save time on benefits administration in your organization is to educate your employees about the benefits they have. This is especially important if you make changes to the benefits program.
Educating your employees helps them understand when and how to use their benefits. This can help reduce erroneous claims, incomplete claims forms, and the time your team spends processing them.
4. Optimize Your Administration Strategy
Now it’s time to turn to your HR processes themselves. Look at how your team executes benefits administration. What could you be doing differently?
There are likely redundancies in your process, which are causing your team to lose time as they repeat steps and go through unnecessary revisions. While it’s important to be careful about benefits administration, you may not need to spend as much time as you’re spending on it.
5. Streamline Benefits Themselves
How many different carriers do you work with for your benefits? If you have separate carriers for each type of insurance, and then another carrier for medical benefits, you may be spending much more time on administration than you need to.
Consider working with a broker and rolling your benefits into one easy package.