July 20, 2022Open Enrollment
Open Enrollment: Start Now, Thank Yourself Later
Enhancing the employee experience is a worthwhile investment in the race to recruit and retain talent. Because of that, it’s essential to take inventory of the many touchpoints your employees have with your company, including the open enrollment process. This year, it’s more important than ever to ensure you’re setting yourself up for success. The open enrollment experts at Wise Consulting have a few words of advice to help you make your company’s open enrollment a total success.
There’s No Time Like The Present
One of the most advantageous things you can do is begin open enrollment preparation well before it becomes a pressing matter. This ultimately helps you save time and resources while preventing costly delays and mistakes.
It is especially crucial for those who are new to the world of benefits or those who are juggling major changes to benefit offerings to get a head start on preparation. It may be surprising to discover that it can take months to have benefits interfaces (also known as carrier feeds or integrations) built due to the inescapable queues that come with open enrollment season.
With brand new carrier feeds, it is important to know your HRIS vendor’s deadline to make requests, and as they tend to be high in demand, it is necessary to get in that queue as early as possible. Be sure to allow plenty of time for testing, re-testing and establishing a solid back-up plan in case of sudden changes. When it comes to existing carrier feeds, get to know the carrier blackout dates and submit change requests to your HRIS vendor early, as changes frequently require rounds of testing. Added tip: it is important to audit the employee elections before the OE file is sent off for completion.
Getting Started Now is a Win-Win
Not only will starting prep now prevent stress headaches, but it will also make your employees’ experience smoother. The employee-facing elements of open enrollment, such as enrollment choices, insurance cards and modules, can hit a snag if you fall behind your timeline. Getting your files ready to send to your vendors early ensures that your employees have the information they need to make the best selections when open enrollment rolls around.
Starting now also gives you time to test your process. This often-overlooked step ensures that errors are brought to light long before your employees have to navigate the process. Fine-tuning all elements of open enrollment not only makes you and your team look good, it raises worker confidence in internal processes, which positively impacts retention and overall morale.
The First Step is the Hardest
Open enrollment can understandably cause a lot of anxiety— it’s a big undertaking! So, we understand that sometimes taking the first step can be the hardest. Because many companies are making changes to benefit offerings this year, the process might feel more overwhelming. Add to that the knowledge that benefits are under the microscope as a high-stakes means of retaining and attracting talent and the overwhelm factor magnifies.
That’s why it’s more important than ever to recruit the help of experts. Wise Consulting is able to provide valuable, experienced support throughout the open enrollment process. Our tested expertise has proven helpful to companies of all sizes across industries because our specialists know how to shortcut timelines, speak vendor and benefits broker lingo, provide training to HR teams and execute technical tasks with accuracy.
Don’t Hesitate— Start your Open Enrollment Preparation Today With the Help of a Wise Consultant
Whether you’ve begun to roll up your sleeves on open enrollment preparation or don’t know where to start, enlist the help of a Wise Consultant! Our team has many years of open enrollment experience and can provide the support you need to successfully complete the open enrollment process. Reach out to a member of our team by calling 800-654-4550 or emailing us at HCMhelp@wiseconsulting.com.
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