What questions should I think through before this upcoming open enrollment season?
Here we are again. The start of the 2022 open enrollment season. Open enrollment is the mandatory once a year time frame you as the employer can change benefits and your employees can change, enroll, or decline benefits. In short, having an open enrollment period followed by a 12 month contract year allows the insurance carrier to manage their risk (but that’s for another article).
I’m sure as a staffing company owner, executive or member of the HR team the conversation around benefits never fully goes away. Below are some topics I would be discussing.
- Does the level of benefits I offer match the respective employee population. Example; many times the management team of a staffing company will be offered a certain benefit package while the temp staff are offered a different package.
- How well do I understand the impact of the day-to-day operations of benefits. I.E., enrollment, billing, monthly management (adds/terms) and more. This can have an impact on your HR team in the aspect of time and resources.
- Employee benefit brokers are the first and best line of defense. What level of service and industry knowledge does my benefit broker provide? A knowledgeable and experienced employee benefit professional can save your business time & money while providing a much-needed employee benefit package.
These are just a few topics that can have a drastic impact on your team, budget, ability to attract high quality employees and more.
Our team has a collective 30 years of experience working in the employee benefit space with a concentration in the staffing industry. Please don’t hesitate to reach out with any questions.