Benefits Technology Success Stories: Open Enrollment, Web-Based Benefits Administration, and Benefits Communication

In recent years, employers have been leveraging various technologies to streamline their benefits administration processes and improve employee engagement. According to a survey conducted by IOMA, 14.4% of benefits managers deemed open enrollment as the most successful technology used during the past year. Additionally, 13.4% of the surveyed benefits managers considered web-based benefits administration as a successful technology, praising its cost- and time-saving benefits. Benefits communication, although cited less frequently, also ranked as a successful technology, with 8% of the surveyed readers giving it high marks.

Key Takeaways:

• Open enrollment was the most successful technology used by benefits managers, with 14.4% of the surveyed managers labeling it as such.
• Web-based benefits administration was also deemed successful by 13.4% of the surveyed benefits managers, with employers praising its cost- and time-saving benefits.
• Benefits communication ranked as the third most successful benefits technology, with 8% of the surveyed readers giving it high marks.
• Various formats were used for benefits communication, including Internet-based information and forms, computer-based benefits statements, and benefit websites.
• Employers used the Internet to provide information, access directories, and reduce paperwork, resulting in improved benefits administration processes.
• Examples of successful benefits technology implementations include:

+ A 3,200-employee manufacturing plant in Illinois that implemented web open enrollment and saw more than 50% of employees use it.

+ A 40-person financial institution in the Midwest that praised web-based benefits administration for saving tons of time and postage.

+ A 500-employee financial firm in Kansas that used the Internet for access to information, including the firm's PPO directory.

+ A private practice firm in Tennessee with 280 employees that put provider directories on the web site to assist employees in finding in-network providers.

• The benefits management process can be improved by utilizing various technologies, reducing paperwork, and increasing employee engagement.

Statistics:

• 14.4% of benefits managers labeled open enrollment as the most successful technology used during the past year.
• 13.4% of the surveyed benefits managers considered web-based benefits administration as a successful technology.
• 8% of the surveyed readers gave benefits communication high marks.
• 50% of employees at a 3,200-employee manufacturing plant in Illinois used the company's web open enrollment.
• Benefits administrators can save tons of time and postage using web-based benefits administration.

Sources:

• IOMA's 2002 Benefits Management and Cost Reduction Survey
• "Managing Benefits Plans 2003 Benefits Management and Cost Reduction Reference Guide"
• Quotes from senior benefits analyst at a 3,200-employee manufacturing plant in Illinois, HR coordinator at a 40-person financial institution in the Midwest, office manager at a small distributing company in Texas, benefits manager from a 500-employee financial company in the East, HR director at a local government with 700 employees in Michigan, and VP of HR for a 1,080-employee health care company in the East.