How Technology is Revolutionizing Voluntary Benefits

how technology is revolutionizing voluntary benefits

Technology is changing almost all aspects of the workplace—that concept isn’t anything new. However, when it comes to voluntary benefits, technology is just now starting to really rise to the top of driving forces. As technology becomes more and more ingrained into benefits administration, we’re seeing that it’s revolutionizing voluntary benefits as well.

Technology is at the forefront of improving engagement with voluntary benefits programs. Here are a few ways that technology is revolutionizing voluntary benefits:

Advancement of Communication Technology

Gone are the days of relying on written paperwork, in-person conversations, and even emails to talk about voluntary benefit options and enrollment. With platforms designed for and dedicated to benefits administration, communication can take place instantly and within one place. For example, HR professionals can disseminate important documents or updates with the push of one button – then that update lives within the system for a central record. 

Additionally, decision-support tools can take the place of many conversations about different options that best suit individuals’ needs. Employees can essentially ask questions that the platform can answer, or seek additional assistance from HR from there. This increases engagement from HR professionals as well, for an overall more interactive experience.

Simplifying Daunting Tasks

Sometimes when employees are faced with a lot of options, as is the case with voluntary benefits, they can get overwhelmed or experience decision fatigue. Technology simplifies the process by guiding employees through the decision process. They can see options, compare plans, and have guidance through the enrollment process. 

The less frustrating the process, the more likely employees are to enroll in at least one voluntary benefit. Technology is making the process simpler than ever; organizations who are struggling to increase participation in voluntary benefits programs should consider a software platform for that reason.

Simplification also works wonders on the HR side of the coin. From mundane tasks like updating employee information to complex tasks like compliance matters, having everything in one central, automated location makes a big difference for HR workloads. Voluntary benefits require a lot of administration work, so having the process be as simple as possible on all fronts is important to success.

Revolutionizing How Businesses Measure the Efficacy of their Programs

This might be the most overlooked benefit in terms of technology revolutionizing voluntary benefits. Previously, employers had no way to really understand employee feedback and program efficacy outside of conversations with employees, which can sometimes be unintentionally biased or subjective.

Technology has given employers insight into key data and trends to help them make smart decisions regarding their benefit offerings. They can analyze what benefits are being utilized the most or least, the demographics of employees most likely to participate in certain benefits, and even what parts of the enrollment process employees have trouble with. This helps employers craft offerings that are cost-efficient and truly meet the needs of employees.

 

Overall, technology is making voluntary benefits more accessible and approachable. Clarity Benefit Solutions offers a technology-driven solution for bringing voluntary benefits to your employees in a way that’s never been done before.

 

Sources:

https://www.benefitspro.com/2018/12/07/how-technology-is-transforming-the-voluntary-benef/

https://www.hrtechnologist.com/articles/benefits-administration/4-ways-technology-can-help-improve-open-enrollment-engagement/