When it comes to benefits administration, the decision to outsource is generally not driven by cost. Instead, companies choose to outsource to gain service efficiencies, commitments and innovations not easily found in-house.
The most common efficiencies companies seek include:
- Compliance support to ensure the company is staying ahead of regulatory and legislative changes
- Streamlining processes to increase overall quality and accuracy
- A nimble vendor team that can support organizational changes
- Best-in-class employee-facing technology, including mobile accessibility and a strong communication platform
- Premier customer service for employees that complements the value of the benefits offered
If you’re unsure if outsourcing benefits administration is right for your organization, consider these questions:
- Does your technology platform allow you to react quickly to meet your business’s needs?
- Are you able to stay in front of legislative changes that are occurring?
- Can your employees contact you with questions using the technology they prefer — text, web, mobile web, online chat, e-mail or phone — and is the customer service provided responsive and accurate?
- Is the accuracy and quality of your administration satisfactory, or are you having to correct issues?
- Is your technology sustainable for years to come, thus mitigating risks and allowing for future enhancements?