It's probably safe to say that open enrollment is one of the most stressful times for the Human Resources team. Many companies start getting ready for the new benefits season the minute the last season has ended...and then again, some companies find themselves with only a few months (or even weeks) to plan.
Either way, the top challenge for open enrollment is in communicating to employees just what their choices are. Many employees take a passive role here, simply rolling over their benefits packages year after year. But according to the Midwest Business Group on Health, nearly 75% of employees regret their decisions later in the year, with 42% stating that they lost money because of those choices.
How can a company define, clarify, and simplify the open enrollment process to employees so that they can choose the benefits that best suit their needs?
Here are our top tips for helping your most important asset—your people—get the most out of company benefits.
Want to power up your HR department's communication strategy year-round? Check out our blog, 4 Tips for Real Engagement.