Effectively Communicating Employee Benefits

Companies today spend thousands of dollars on benefit
packages to attract and retain good employees. These benefits range from
pension, 401k, and other retirement packages to medical, dental, life
and disability insurance packages to name a few. Effectively communicating
these benefits to employees in a timely and consistent manner is difficult
when most of management’s focus is spent on operational issues. This may
put your organization at the risk of losing key employees whom do not
know or do not understand what benefits are being provided to them. Helping
employees understand their total compensation packages including benefits
enables them to make the proper comparisons when contemplating other opportunities.

This issue is difficult to resolve for many companies in the SMB market
place. There are many options that can be used to educate employees. They
range from:

1. Providing employees with documentation to read and make decisions
(publication are costly to employers and need replaced on a frequent basis).
2. Having agents from the pension or insurance companies speak to employees
at company meetings (costs of shutting down operations for meetings along
with the payroll dollars consumed can be very costly).
3. Having employees’ access information through the internet (can prove
to be unreliable unless directed through a company website or portal).

At Axis, we recommend that employers utilize a combination of all three.
Sage Accpac HRMS offers a component which allows employees to access company
information over the internet. Benefits can be introduced in company meetings
but employees can research and enroll in those benefits at their leisure
over the internet. This component is called Sage Accpac HRMS Self Service.

With Sage Accpac HRMS Self Service, employers can empower their employees with
all the information at their finger tips. They can see which benefits
they are eligible. Select and enroll in those benefits. Download electronic
handbooks, link to provider’s websites, select doctors and assign beneficiaries.
This is portal that provides instant access and can fulfill employees’
needs for benefit research, education and selection. Additionally, since
manuals, enrollment forms, insurance booklets, etc., can be maintained
electronically and updated frequently, it proves to be one of the most
economical methods of communicating benefits to employees.

If your company would like more information on Sage Accpac HRMS Self Service,
please contact us at info@axisglobalpartners.com.

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This entry was posted in February 2006, Newsletter and tagged , , , , , , . Bookmark the permalink.

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