Why Now is the Time to Review HR Benefits and More
Why Now is the Time to Review HR Benefits, Software, & Health Incentives

Why Now is the Time to Review HR Benefits, Software, & Health Incentives


January’s year-end madness is over and HR professionals around the country are breathing a collective sigh of relief!  Since normal daily routines have settled back in, what’s the next big project that you should take on?  Allow us to suggest February is a great time to put some of your key programs and technology under a microscope.  Now is a great time to review HR benefits, software and health incentive initiatives.

Why Review HR Benefits Now

Reevaluate HR BenefitsNew laws, legislation, and compliance requirements passed months (and possibly years) ago often take effect at the beginning of the year.  These changes can affect what your benefits administrator is able to offer you.

Make sure you are aware of what new offerings might be available to your employees.  Decide if you are still getting the best deal for your company and the employees.  That might lead you down the path of reevaluating benefits plan administrators.  Ultimately, you could end up saving money or increasing the value of your plan. And that’s a win-win for the company and your employees.

Why Review HR Software Now

New software technology is constantly hitting the market. Products you’ve known and love for years also tend to receive annual updates.  If your company has been using the same software for five years or more, 2017 is the perfect time to make sure you are using the best-matched software for your company’s present and future needs.

    • Take a look at your current processes; are you still using Excel spreadsheets or handling other tasks manually?
    • Can your current system help you automate other manual tasks to save time and improve accuracy?
    • Take a look at your growth trajectory.  Are you equipped to handle on-boarding of multiple employees at the same time with 100% accuracy and no missing documentation or signatures?
    •  Do you have an alerts system in place to remind you of critical information like certification expiration dates for employees or recognizing their work anniversary?
    • Are you wanting to ditch your on-premise solution for a cloud-based one?

If you wavered even a little bit in answering any of these questions, it may be time to speak with your business software consultant to help you explore updating your existing software or possibly looking at what’s new and next.

Why Review Your Health Incentive Program Now

Health incentive programs are nice in theory. If you have healthier employees, they are less likely to call out sick, Reevaluate Health Incentivesclaim costs go down, and your team members are, overall, more productive in their roles.  But if employees are not actually participating, you’ll never get a chance to experience the benefits (no pun intended!). If your program isn’t working the way you’d like it too, here are some things to consider to help shake things up.

  • Vary or rotate incentives monthly or quarterly.
  • Reduce premiums for “good behaviors” (such as joining a smoking cessation program).
  • Appropriately match big rewards or prizes for achieving big goals.
  • Bump up the gamification; initiate a “Biggest Loser” styled competition and let your employee’s competitive nature motivate them to better health.
  • Stop playing with “Monopoly money.” Play for significant prizes like a $250+ gift card, an iPad Mini or a FitBit.

We hope you found these tips useful.   If you want some guidance as you review your options, we are here to help.  Send an email to hrhelp@blytheco.com or give us a call at 949-583-9500.

 

 

 

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