Voluntary Benefits for the Multi-generational Workforce

T H E M U L T I - G E N E R A T I O N A L WO R K F O R C E

S O C I E T A L T R E N D S & V O L U N T A R Y B E N E F I T S

H OW T O L A U N C H A V O L U N T A R Y B E N E F I T S P R O G R A M

T H E R O L E O F T H E V O L U N T A R Y B E N E F I T S C O N S U L T A N T

the role of benefits administration technology HR staff or benefits administrators may be reluctant to add Voluntary lines for fear of increasing annual and day-to-day tasks, especially if they manually administer part or all of their benefit program. Benefits administration technology can automate and streamline annual and ongoing program functions—enrollment options, employee education, payroll deduction, carrier feeds, etc.— for all lines of coverage. Some of the best technology platforms feature avatars and videos, which can be used to introduce program options, including Voluntary products, and illustrate their value to employees. Technology can help plan participants to efficiently enroll in and manage their core benefits and Voluntary product choices while giving them access to their plans 24/7/365. Look for a system that features decision support tools to help employees customize an entire benefits package to meet all of their needs. Technology should also educate users about the features and benefits of specific lines of coverage that they may not normally be familiar with, such as Accident or Critical Illness. Employees often find benefit choice and usage confusing, which leads to frequent questions and interruptions to HR. The best technology platforms deliver education, enrollment and ongoing administration tasks with carriers, payroll administrators and other third parties, thus relieving the burden on busy HR departments and providing the best value to employees.

THE ROLE OF THE VOLUNTARY BENEFITS CONSULTANT

THE ROLE OF BENEFITS ADMINISTRATION TECHNOLOGY IN VOLUNTARY BENEFITS ENROLLMENT AND MANAGEMENT MANAGING CORE AND VOLUNTARY BENEFITS THROUGH ADMINISTRATION OUTSOURCING

A FINAL WORD ABOUT VOLUNTARY BENEFITS

69% of employers now believe Voluntary Benefits will be an important component of their total reward in 3 to 5 years.

- SHRM, “Voluntary Benefits Now Essential, Not Fringe”

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