Online Open Enrollment: Data to Make Your Case
The traditional open enrollment period is a time consuming process that places a temporary, yet significant, burden on an organizations human resources (HR) department. Although some companies have more than one open enrollment period each calendar or fiscal ear, most businesses schedule a single annual event, often in the fall.
Open enrollment provides employees the opportunity to evaluate benefits such as health care, retirement and flexible spending plan− and make changes to their elections. For the employer, open enrollment is an opportunity to modify existing benefits packages to cut costs or increase total compensation values.
Unless a major life event like marriage, a birth or a death occurs, changes made during open enrollment are binding until the next open enrollment period. Because of this, it is important for HR to clearly and efficiently communicate benefit choices that are available. If effective communication is lacking, employee benefit selections can be inadequate, and create frustration for employees. This can breed organizational discontent and reflect poorly on the H department. It may even lead to employee retention issues.
What makes an enrollment period successful?
A successful open enrollment period should educate workers on benefit changes, options and out-of-pocket costs so informed decisions can be made − and enrollment forms processed without errors. If these objectives are achieved, employees will be more satisfied with their choices and H staff can moe on to other tasks. But with manual, paper-based open enrollment processes, outcomes are rarely this rosy or straightforward.
For many of you, open enrollment is still handled in the arduous, and error prone manual method. In the infographic below, you’ll learn what an effective online open enrollment looks like from a data flow and process perspective, as well as eight important facts you need to know about online open enrollment. Use this infographic to help make your case for purchasing an HRIS system so that you can automate your next open enrollment.
A paperless open enrollment process should:
• Increase efficiency throughout the entire open enrollment process
• Reduce the time needed to execute each open enrollment period
• Eliminate handwriting and data entry errors
• Improve employee satisfaction through more informed decision-making
• Decrease costs by eliminating paper and reducing redundant tasks
Learn more about what to online enrollment by downloading Ascentis’ whitepaper “Web-Based Online Enrollment: How a paperless process saves time, eliminates errors and increases employee satisfaction.” Just click here.