5 Reasons A Small Business Owner Should Outsource Benefit Administration

Your employees are your greatest assets. Marcus Lemonis, of CNBC’s The Profit, affectionately prioritizes human capital in his “3 P” business model like this, “people first, then products, then processes”. Research shows that employees want a balance between fair compensation and good benefit options. Gone are the days where it was all about the dollar.

 

Maximize Enrollment & Usage

Your company’s benefits program should help attract and retain motivated and productive employees. Outsourcing gives you a variety of ways to engage your employees while allowing them get the most from their tax-advantaged programs. Some offer web-based employee tutorials, customizable education materials, and 24 hour access to their account information.

 

Innovative Tax-Advantaged Programs

Maintaining fresh and timely benefits programs are critical to employee satisfaction and retention. The right firm will represent the latest innovations in the administration of tax-advantaged accounts and COBRA services. They have the funds needed to maintain technology infrastructure, research regulation, and staff appropriately.

 

Legal Advice from Industry Leaders

Benefit compliance has become an extremely risky and costly part of benefit administration. With the recent healthcare laws and requirements, who can keep up with it all? Leave it to the experts! Benefit Administration firms generate profit by being in-the-know. Hold them accountable and accept nothing less.

 

Solutions Simplified

Administrators provide employers with a simplified flexible solution that combines health, wellness and financial products with administrative, reconciliation, education, enrollment and call center services through one source via one website. They are equipped to manage large or small volumes of data.

 

Customer Focus & Accountability

Customer satisfaction is a primary driver in outsourcing. With a benefit administration partner, you can get instant reporting for data analysis, quality assurance via recording phone calls, and a consistent and professional appearance. Customer service professionals will handle all of your employees’ inquiries and concerns.

 

Give your employees a comprehensive set of easy-to-use tools to better understand their benefit programs, manage their personal wellness and fund their healthcare needs by outsourcing to a benefits administration firm created with them in mind. Outsourcing, in many cases, is cost efficient, saves business owners time, and offers compliance on levels often too cumbersome for the small business owner to impersonate.

 

By partnering with an outsourcing firm, you can add significant value to your employees experience while working with you.

You must be logged in to post a comment Login

Skip to toolbar