CLARK, N.J., Feb. 8, 2018 /PRNewswire-iReach/
Employees benefits administration company, Clarity Benefit Solutions, shares tips for approaching employee benefit programs.
Employee benefit programs can be challenging to establish and manage. There is a wide selection and combinations of plans to choose from, the rules and regulations are constantly evolving, and it can be time-consuming to handle all these tasks. Therefore, it is vital to have a plan in place when it comes to providing not only mandatory benefits, such as worker's compensation insurance, Social Security contributions, and unemployment insurance, but also voluntary benefit programs that often include medical insurance, PTO, disability/life insurance, retirement benefits, and vision/dental plans. Here are some tips for how to approach employee benefit programs.
- Identify the objective and budget. Ascertaining the employer's benefits objectives will provide critical guidance in helping the company in the benefit selection process. This should be a general overview that addresses both employer and employee needs, and should include size of the company, location, specialty(ies), and a budget.
- Perform a needs assessment. A needs assessment will help craft the best benefits program based on what employees want and need in a benefits plan. If the employees play a part in the benefit selection process, chances are they will be more satisfied with the packages offered, and enrollment will increase.
- Formulate the benefit plan. Once the needs assessment is complete, use the data to create the new benefits plan. Remember that benefits are not one-size-fits-all, so it is vital to have offerings that meet all employees' individual needs. This can be a challenging endeavor, with factors to consider such as: will employees contribute to the plan and if so, how much; can the plan be administered in-house, or will a benefits administration company be required; how much will it cost to administer the plan, etc.
- Educate the employees on the plan specifics. Communicate benefit plan details in a number of formats: print, website, email, webinars, flyers/posters, and meetings. Have an expert available to address questions and concerns. Provide ongoing support and information throughout the year to keep employees engaged.
About Clarity Benefit Solutions: Clarity Benefit Solutions provides technology that makes the health insurance plan selection process fast, easy, and straightforward. For over two decades, we have provided clients with industry-leading technology, compliance, and exceptional customer service. Our offering is designed to save time and lower the costs of managing benefits while also promoting employee self-service and automated ACA compliance.
Media Contact: Calvin Clark, Clarity Benefit Solutions, 732-428-8272, cclark@claritybenefitsolutions.com
News distributed by PR Newswire iReach: https://ireach.prnewswire.com
SOURCE Clarity Benefit Solutions
