When selecting a benefits provider, companies often prioritize getting the necessary benefits for their employees at the lowest cost possible. However, while immediate cost savings may be appealing, long-term efficiency, employee experience and industry expertise should not be overlooked. It’s just as important to consider the value of key benefits platform features and the potential for a carrier's digital capabilities to drive a measurable return on investment (ROI).
Strategic benefits integration for measurable ROI
A benefits provider that offers deep integration between their system and your Human Resources Information System (HRIS) can provide significant value compared to one that simply offers a lower cost but lacks seamless connectivity with your established processes. API-enabled integration allows for real-time updates not only to basic employee information but also to enrollment, plan design, evidence of insurability and absence management. Any changes made in one location are automatically updated everywhere.
By implementing smart integrations, organizations can:
Focus less on paperwork and more on your people
Eliminating manual processes not only frees up HR and employees to engage in more meaningful work but also reduces the chance for errors. Hours saved and errors avoided may not be immediately apparent on a balance sheet, but they contribute to smoother workflows and more productive employees, ultimately raising your ROI.
With deep integration, employees can complete enrollment and even evidence of insurability (EOI) in the same system where they access their pay slips or request time off. This eliminates the need for tedious paper forms and streamlines decision-making processes. HR teams, who are also employees, can benefit from reduced manual data entry, allowing them to focus on more important work such as recruiting top talent and creating a supportive work culture.
"If we can take away that manual entry of data...then we can help them spend more time doing the things that actually matter and where they can add more value to their employees."
– Rich Lappin, Vice President, Platform Strategies at Unum Group
Keeping up with employee expectations
In today's competitive labor market, employees expect more from their employers when it comes to caring for and understanding their needs. In fact, 87% of employers recognize that their employees expect more from them in this regard.1 Providing good benefits and making it easy for employees to access and understand them is a simple way to show you care.
Integration beyond payroll
A comprehensive integration solution covers critical HR functions, including:
The value of expertise and experience
While cost may be a primary consideration when everything is straightforward, it’s crucial to have a benefits provider with deep expertise and experience when faced with complex questions or challenging situations. A provider with industry-specific knowledge can offer thoughtful answers, clear guidance and keep up with constantly changing state and federal statutes. Access to expertise through an online platform further enhances the benefits experience by eliminating the need to navigate through phone trees to find the right person for assistance. Lastly, choose a carrier that offers access to certified consultants specific to your HCM who can guide you and help configure your system.
Value goes beyond sticker price
You should look beyond price when choosing a carrier and consider the overall value and benefits that extend beyond cost savings in the form of recruitment and retention. Nine out of ten employers agree that benefits are critical to attracting and retaining talent.2 Additionally, 51% of employers are likely to expand their leave offerings in the coming year or two.3
Finding the right partner for HRIS integration
When selecting a benefits partner, consider the advantages of smooth integration, specialized expertise and previous achievements. Leverage an industry-leader in Application Programming Interface (API) connections and rely on our extensive expertise in HCM integrations to automate your processes and provide a best-in-class benefits and leave management experience.
Discover our HRIS integration solutions, and see how we can simplify your HR processes, enhance your employee experience and drive measurable ROI. Contact us today to learn more.