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Updated: 6 hours ago How To

How to choose the right benefits carrier

By Chris Pyne, Unum

In the fast-changing world of HR technology, innovation is not just a buzzword — it’s a strategic growth imperative. As businesses seek their competitive edge by meeting the varied needs of their workforce, choosing a benefits provider that invests in innovation makes all the difference. Here’s what leaders need to look for to harness the full power of innovation to boost your benefits strategy.

The power of seamless integration

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Chris Pyne

Imagine a world where your benefits administration, enrollment, and leave management systems are perfectly synchronized. This is where seamless integration comes into play, a cornerstone of innovative HR technology. With the right technology bundle in place, businesses can benefit from real-time data flow, reducing manual errors and freeing up valuable time for their HR team to focus on strategic initiatives and human interactions.

Harnessing data

Today’s business environment is flooded with data, and the ability to harness, clarify and analyze data is crucial for making informed decisions. Innovative benefits providers often offer advanced analytics and reporting tools that provide insights into employee behaviors, benefits utilization, and overall program effectiveness. Leveraging these insights allows businesses to tailor their benefits offerings to better meet the needs of their workforce, elevate the employee experience, and manage costs.

Enhancing employee experience

A smooth and intuitive benefits experience drives employee engagement and overall satisfaction. Innovative providers prioritize user-friendly platforms that simplify the benefits enrollment process, provide easy access to information, and offer personalized support. Features such as mobile accessibility, real-time updates, and integrated educational resources empower employees to make informed decisions about their benefits.

Ensuring compliance and security

Compliance with regulatory requirements and ensuring data security are essential to best-in-class benefits administration. Leading benefits providers invest in robust security measures and compliance protocols to protect sensitive employee information and ensure adherence to legal standards. By choosing a carrier with a strong focus on compliance and security, businesses can mitigate risks and maintain trust with their employees.

Adapting to future needs

The landscape of HR technology is constantly evolving, and businesses need a benefits provider that can adapt at the speed of change. Look for partners that demonstrate a commitment to continuous innovation and have a proven track record of looking around corners to meet emerging needs. This forward-thinking approach ensures that your benefits strategy remains relevant and effective in the face of changing workforce dynamics and technological advancements.

Key questions

When evaluating potential benefits carriers, consider asking the following questions to ensure they align with your innovation goals:

  • How do you integrate with benefits administration and HR systems?
  • What analytics and reporting capabilities do you offer?
  • How do you ensure compliance with regulatory requirements?
  • What security measures are in place to protect employee data?
  • How do you plan to evolve your technology to meet future needs?

By carefully considering these factors and asking the right questions, businesses can choose a benefits carrier that not only meets their current needs but also supports their long-term strategic goals.

Chris Pyne is an executive vice president of group benefits for Unum.

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