As with most services, employers want to make sure that an enrollment and communication firm is worth the spend. A 2018 MetLife statistical report tells us 39% of employers discuss their concerns about cost, the reason for keeping them from using an enrollment firm. Yet, the majority of employers that have hired an enrollment and communication firm are more than pleased with the results. BPA is a full-service benefits administration firm, specializing in enrollment and communication services. We partner with employers and benefit consultants to offer, maintain, and optimize communication engagement for the employees of their organizations.
Benefit Enrollment Firms Help Create Benefits Packages for Small/Medium Companies & Large Corporations
Benefits present an opportunity that is often overlooked in a company. Employees rely on their benefits for financial security, but research shows that many employees don’t fully understand or utilize what’s available to them. Typically, large corporation benefits often include:
PTO, sick days, and vacation days
Health insurance / Life insurance / Dental insurance / Vision insurance
Retirement benefits or accounts
Healthcare spending or reimbursement accounts
Long term / Short term disability insurance / Tuition reimbursement
Gym memberships or discounts / Wellness programs
Workplace perks such as recreational activities, food and coffee, and flexible work schedule
However, for small and medium-sized companies, there’s a bit of a gray area. Employers are usually facing a tough decision on what benefits to include due to their cost. Based on what the company can afford and their goal, there are two common ways to structure, contribute, and offer employee benefits:
Benefits based on organization: Offer employees a specific or defined benefit. Benefits are employer-owned and employer-selected. Examples include a traditional health insurance policy, retirement pension or 401(k), or formal wellness program.
Benefits based on the consumer: Offer employees employer-funded dollars to customize their benefits using technology. Benefits are employer-funded and employee-selected. Examples include a reimbursement plan like a Qualified Small Employer Health Reimbursement Arrangement (QSEHRA), personalized benefits, or allowances for wellness activities.
No matter the size of the company, having some type of benefits package implemented into a company is important when growing a successful business. Today’s evolving workplace is bringing new expectations about the role employers play in their employees’ financial and general well-being.
PA Enrollment & Communication Firms Show How to Increase Communication Throughout A Company
Aside from creating the right benefits package for a company, employers are also handling intricate enrollment/hiring processes and growing administrative duties in an environment that’s changing consistently. Sound overwhelming? It doesn’t have to be. Increasing employees’ interest in communication, with the help of an enrollment and communication firm, can boost a company’s overall morale for employers and employees alike. 42% of employers see employee engagement as a concern for their company. Employers using enrollment firms are far more likely to achieve their benefit objectives, including helping employees understand benefits materials, navigate the benefits process, and have more confidence in the benefits selection. In addition to typical enrollment and communication services, firms like BPA provide the necessary resources and experience to produce the results that employers value for their employees:
Resources You Need From Enrollment Firms
Communication specialists trained in explaining the value of both core and voluntary benefits
Support for educating employees on important corporate initiatives
Ability to coordinate enrollment across multiple locations
The manpower and technology resources to reach employees
Proven tactics for implementing a multi-year enrollment strategy
Surveys and information-gathering tools to help employers learn more about employees
Results You Want From Enrollment Firms
Employees are more satisfied with their benefits, better educated on how they work, and have significantly higher enrollment rates
Enhanced understanding and increased engagement in programs such as 401(k) plans or wellness
A consistent enrollment experience that touches all employees
Reduced strain on an employer’s human resources department and a broker’s account management team
Ongoing educational support for new hires and recurring opportunities for employees to review their benefits
More informed decision making for employer communication and employees’ benefit needs
76% of employers who have worked with an enrollment and communication firm to help them engage their employees in their benefits program were satisfied with the outcome. Employers note that enrollment and communication firms help them integrate new technologies and increase enrollment capabilities.
BPA Provides Quality HR & Benefits Enrollment Services for Businesses Throughout PA
When you need work done on your car, you go to a mechanic. When you have a toothache, you talk to a dentist. And, when you’re looking to set up your enrollment for success, the best tactic is to work with an enrollment firm. At BPA, we understand how much it means for brokers to be able to provide solutions for their clients. We specialize in benefits engagement, streamline administration, healthcare regulations, data security issues, and more. Working with BPA, the leading enrollment and communication firm throughout Pennsylvania, is essential to maximize participation and deliver the education that employees need.