Whether your programs are renewed in January, July, or another time this year, the 2023-2024 Open Enrollments are here! As an employer, this means a few hectic months spent trying to understand employees’ evolving needs and preferences. As for workers, open enrollment will likely be a time of confusion and uncertainty. Preparation will make the process go more smoothly for both parties. Our short guide will help you navigate open enrollment smoothly and efficiently.
How Should HR Departments Navigate Open Enrollment Seasons in 2023?
There are four specific times when employees pursue benefits: when they’re hired, when a need for benefits arises, during the open enrollment, and when they’re reminded about benefits. In the run-up to your open enrollment season, HR professionals are preparing for the best employee experience possible. However, there are only so many hours in a week, and limited bandwidth is also problematic. What can HR leaders and professionals do to navigate the season effectively? In addition to key resources like SHRM’s open enrollment guide, we have some tips to help you get ready for the upcoming season.
- Did you start your planning as early as possible? This gives you time to draw on your experience from previous years and collect new information. Additionally, proper preparation will prevent you from feeling overwhelmed later.
- Don’t take a one-size-fits-all approach. Every employee has different needs. It’s important to impart information, step back and see how workers take it in and re-adjust.
Enhance your communication strategies. There are many different types of individuals in your company, so you also need communication channels that cater to a diverse group of people. Everyone consumes information in their own way. Optimize your platforms ahead of time to ensure employees can digest the information you provide.
If you need extra assistance, lean on external partners. HR departments usually have a limited number of team members. When things get busy, it’s easy to feel overwhelmed and overworked. If necessary, lean on outside vendors and benefits educators who can help support your employees.
- Remind employees that open enrollment is not a one-time event. Your open enrollment season is one of the most significant events of the year, but it isn’t the only way for workers to receive benefits. Let employees know that this is something they should be prioritizing and thinking about throughout the year. Case studies and examples should be presented to them so they can better understand the significance of this message.
- Conduct an immediate lookback. It is all hands on deck during open enrollment – a time of intense communications, number crunching, and vendor/partner relations management. Once it is ‘over’, there can be a natural desire to set it all aside until next year. While a break is certainly warranted and necessary, there is one final step that should be taken. A careful look back on what when well, good, and poorly. This is an ideal time to make note of this to begin making refinements for next year.
How Should Employees Navigate the Open Enrollment Season?
These days, an open enrollment season might seem confusing and complicated for employees. According to a study by Optavise, 22% of workers want to learn about choosing a health plan but don’t have the right tools at their disposal. As an employee, it’s likely you have a lot of questions but don’t know where to begin. Here are a few things you can do to get the most out of open enrollment:
- Request health care literature. Information should be provided to you by your HR department, but it doesn’t hurt to ask for additional literature. You should be able to understand the terms and processes related to your health plan; this is for your own benefit. Be your own advocate by attaining the information you need ahead of time. That way, you feel informed and ready to enroll when the time comes.
- Don’t be afraid to ask questions. Remember, your company’s HR team is there for you. They want to help you receive the benefits you’re entitled to as an employee. If you have any questions, they can help you find the right plan based on your needs.
- Make sure you understand the essentials. After meeting with an HR professional, you should fully understand your options, plan benefits and costs, and how the benefits will meet your needs.
What Can Finance Departments Do to Help?
Finance departments can do their part by allocating budget and resources to larger-scale communications platforms to facilitate the process. It is possible to find a wide range of digital platforms at varying price points. During this time, Finance can also work in closer collaboration with HR and Operations and pay close attention to areas such as:
- Optimization of the HCM/HRIS/Payroll platform. The current platform might fit the bill for getting payroll, time, and attendance correct. However, how does it integrate with benefit administration, learning management, applicant tracking, and manual automation? How did it go? What could have been better?
- Employee Feedback. How is your investment in health and benefits impacting your workforce? Now is a key time to listen and discern fact from fiction. Are your programs competitive and do they reinforce your message?
- Plan Design. Are there ways to help guide your employees to better quality care, better outcomes, and more economic solutions? Are you overpaying for care or prescriptions? The right strategy here could save them (and your organization) a lot of potentially wasted money.
Learn About Open Enrollment Seasons by Partnering with TriBridge Partners
Is your team ready for the open enrollment season? TriBridge Partners is here to help!
To discover how our experts can assist your organization or business, please call our office today at 240-422-8799, email Jessica Storck at Jessica.storck@tribridgepartners.com, or find us on LinkedIn.
