Here’s a look at some of the most common complaints that come with choosing to outsource benefits administration, and what you can do to alleviate some of the stress.
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Forty-six percent of job candidates cite a company’s culture as a deciding factor in whether they accept a job offer. At the same time, employees who don’t like their company’s culture are 24 percent more likely to quit. What do you do to foster a culture that attracts and retains great talent? First read our lead article on Five common complaints of Merchants Benefit Administration companies including the top complaint that the benefit plan administrators provider portal does not work.
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Here’s a look at some of the most common complaints that come with choosing to outsource benefits administration, and what you can do to alleviate some of the stress.
Excerpt of the above Article:
Companies outsource their Merchants Benefit Administration Solution to a third party for a wide variety of reasons — to ensure compliance with laws and regulations, to gain access to expertise and technology that they otherwise couldn’t afford, or to help current HR employees get refocused on the core company business, to name a few. Lets gain some insight into Ben Admin Solution companies.
But positives usually don’t come without some balance, and choosing to outsource Ben Admin Solution can also come with its fair share of challenges. Here’s a look at some of the most common complaints that come with choosing to outsource Ben Admin Solution, and what you can do to alleviate some of the stress.
This issue is #1 for a wide variety of reasons, from employees who are unhappy with the coverage they’re offered to communication issues between internal HR teams and the third-party administrator.
Within this umbrella category, you may encounter scenarios where employees who leave the company experience gaps in coverage when switching over to COBRA, issues with FSA and HSA reimbursements being sent to the wrong location — or not being sent at all — or a complete policy switch that could affect some staff members negatively.
Here’s what you can do: When selecting a third-party benefits administrator, look for one that communicates frequently, clearly and in a timely manner about upcoming changes to your relationship and then follows through as originally stated. If a policy switch is on the horizon, you should have plenty of time to decipher those changes and communicate them to your internal teams in a way that’s relevant to them.
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