Open enrollment is an important process that usually takes place November 1 through December 15. But for employers, planning starts much earlier. Planning ahead can result in savings, a smooth enrollment process and ensure you are offering benefits that help recruit and retain the best talent. Here are some tips for success:
Look at the menu of benefits you currently offer. Research has shown that after health insurance, many employees value low-cost options such as flex time, more paid vacation days and work-from-home options.
KEEP IT SIMPLE
Assume most employees know little about health insurance and retirement plans. Educate them on the basics.
USE OF MULTIPLE MEDIUMS OF COMMUNICATION
Consider your employees’ age, education levels, English language skills and tech savvy. Then employ a combination of methods to get the word out. Don’t rely on technology alone. Supplement it with employee meetings, email, envelope stuffers, and direct mail.
Get your plans, benefits and options out to employees a month before open enrollment. This gives your workers time to discuss their benefits with their families.
Tax changes can throw withholding out of whack, so remind your staff to check how much is being withheld from their checks.
Communicate the value of your employee benefits and wellness packages all year round. This will help employees to appreciate that this is part of their compensation.
ADKF, is the largest, locally-owned public accounting firm in San Antonio, Texas, with branch offices in Boerne and New Braunfels. We have been serving our community for 29 years. We are a full-service CPA firm that employs a broad range of tax, audit, bookkeeping, and consulting services and superior customer service to help our clients meet their goals and objectives. Our partners are committed to assisting our clients in meeting their goals and objectives through superior client service. Please click here to set an appointment with us.