One of the most challenging aspects of Benefits Administration today stems from managing the many complexities of employee information from the perspective of preserving data integrity. When choosing an outsourced benefits administration provider – or auditing your current provider – it is important to assess that their underlying technology capabilities and infrastructure is capable of assuring data integrity and accuracy.
We define Data Integrity in the context of benefits administration as maintaining and assuring the accuracy and consistency of employee data over its entire lifecycle. Your data must be as correct and up-to-date as possible, both when going into a system and going forward within the system. Data Integrity is essential because errors or gaps in your data can drive up the cost of unanticipated corrective action. Inaccuracies in data, for example, can cause overpayments for ineligible dependents, wrong tier coverage classification, or misreporting on Affordable Care Act compliance, which can lead to significant penalties in monetary fines.
Leading companies achieve much of their success due to the investments they’ve made in internal communications. They understand that a disengaged and uninformed workforce will cost their organization a significant amount of time and money. According to research from Gallup, companies with a highly engaged employees consistently outperform their competition. In this way, the communications […]
Performance management has been experiencing a seismic shift in thinking and effectiveness over the last several years. The millennial workforce now is a majority of the US workforce with almost 54% of the employee population1, and that has driven a lot of change in workplace behaviors. Once a year rigid ratings-based performance appraisals are slowing […]
A robust mental health benefit is key to attracting and retaining top talent. The problem is, not all mental health therapies are effective and help people get better. Use this guide to evaluate your existing benefit based on eight crucial factors. 1.Employees have easy access to care How easy is it for your employees to […]
