February 3, 2021
Adding team members to your company can be exciting. It is a sign of growth for the company, and when you find the right fit, new hires are a huge asset.
During onboarding, introducing new employees to your unique company culture and communicating the values and mission of your company are just the beginning. By taking advantage of the onboarding process to connect with new hires and get them engaged in all areas of their employment, you positively influence the development of a loyal employee rather than one who is more apt to leave.
Sarah Wetzel, the Director of Human Resources at engage:BDR, described the onboarding process: “I truly believe that onboarding is an art. Each new employee brings with them a potential to achieve and succeed. To lose the energy of a new hire through poor onboarding is an opportunity lost.”
With the inherent importance of onboarding and the responsibility that it carries, ensuring that the process runs smoothly may be challenging for staff. A poor executed onboarding process can have unfortunate consequences. As Bill Conaty, the former Sr. Vice President of Human Resources at General Electric, said, “Oftentimes, the lack of a robust . . . assimilation process leaves the new employee confused and disoriented.”
When it comes to benefits administration, a poor onboarding experience may be especially detrimental. A company’s benefits package is a major part of the employee’s total compensation, so it is crucial that new hires are educated about all aspects of their benefits. Unfortunately, HR staff and managers often do not have the expertise in benefits administration that employees, particularly new employees, require in order to fully understand the variances in their benefits options. If a company’s HR department does not have adequate resources, personnel, or a robust enrollment process, employees remain unaware of their benefits package and the investment the company makes in them.
Understanding of eligibility rules and the enrollment process in general also present a challenge for new hires. Because employees are usually not well versed in benefits, they often do not know when they are eligible or ineligible for coverage, which benefits to elect, and the information required to enroll dependents. In addition, with the busyness of life and work, new employees are at risk of forgetting to enroll in coverage by the required deadline.
When employees are well informed about their benefits, data shows they become more engaged in their jobs. One study by MetLife revealed that 71% of employees who are satisfied with their benefits also report being very loyal to their employers. In addition, having benefits coverage for themselves and their family brings peace of mind to employees, giving them confidence that they will have the coverage they need when they need it most.
At BenefitElect, we provide the benefits expertise that every company can depend on. Our approach, as explained below, is three-fold:
First, we deploy automated text and email messages to employees informing them of their key enrollment deadlines and any actions they need to take. Frequent communication drives employee participation and frees up valuable time for HR staff.
Second, our focus on a user-friendly enrollment platform means that your employees will not experience frustration when they log on to enroll. Our easy-to-use site walks new hires through the enrollment process step by step, allowing them to select or waive each benefit option. Within a few minutes, employees choose their coverage and enroll their dependents. In addition, during the enrollment process, employees encounter a variety of videos, plan documents, and other communications, which educate them about their benefits and the value they offer. These “tutorials” increase employee engagement and retention.
Lastly, through automating the benefits administration process, HR staff and managers are free to focus on what matters most in onboarding – connecting to and training new team members. HR does not need to check up on whether a new hire has enrolled. Our robust reports supply that information to staff as well as carriers and TPA, keeping all parties informed. At BenefitElect, we make onboarding easy.
Making sure your onboarding process runs smoothly may directly impact your bottom-line. Because the cost of replacing an employee ranges from 50% to 400% of their annual salary, according to a TLNT study, good onboarding practices are extremely important. Michael Watkins, author of The First 90 Days, shares that “employee orientation centers around and exists to help the individual employee, but it is the company that ultimately reaps the benefits of this practice.” Partnering with us at BenefitElect ensures that your company will reap the ultimate reward.