For HR professionals, there’s no better feeling than coming to the end of Annual Enrollment and knowing your team nailed it. It’s like getting a winning lottery ticket on your birthday – and makes all the hard work worth it!
Annual enrollment is right around the corner. If you’re like me, that statement probably has you a little spooked. Be warned – the content ahead is just as frightening.
As I shared in a previous post, the average American spends 19 minutes or less selecting benefits each year. That’s right – 19 minutes OR LESS! Scared yet?
One reason employees tend to spend so little time on enrollment is because they don’t understand their benefits options. As HR pros, we have the ability to make a difference by educating and supporting our workforce before, during, and especially after enrollment.
It’s fall in America, which means one thing: Football. This time of year, it seems the only thing we like better than all things pumpkin spice is all things pigskin.
For proof, you don’t need to look any further than our devotion to fantasy football. The average fantasy player spends three hours per week managing their team, according to the Fantasy Sports Trade Association. The regular NFL season lasts 17 weeks, which equals an average 50 hours on fantasy football each season.
As fast as it came, open enrollment for 2016 is just wrapping up (for most employers). As tempting as it might be to totally relax and put off thinking about your 2017 enrollment challenges until next month or even next spring, now is the best time to perform an open enrollment look-back.
While it’s important to do a tactical post-mortem — what worked, what didn’t, and why — it’s equally valuable to take a step back and look at the bigger picture if you really want next year’s enrollment process to meet your goals.
Annual enrollment is most likely just wrapping up for most HR professionals. There's no doubt that emotions run high during annual enrollment, and that's true for everyone involved--from HR to IT to each employee in your organization--and even their dependents. Sometimes it's hard to remmeber that yes, there is life after annual enrollment.
But when the dust settles, when the last revised enrollment form has been filed and no more changes are allowed, what do you truly want to have happened?
Black Friday is just around the corner! Personally, I can’t wait. It’s been a tradition for my mom and I for as long as I can remember. Half the fun is researching and comparing what deals all the stores are going to be offering, and there's something exciting about being out there with so many others competing for the best deals.
You know what else comes once a year and requires quite a bit of research?
Annual enrollment. Cue the hype! Or maybe not.
Ever wish that you could just skip annual enrollment?
We’re guessing the thought has crossed the minds of our fellow HR professionals maybe a time (or ten). It seems that annual enrollment tends to get a lot of bad press this time of year—from surveys revealing what people would rather do to enroll in benefits to horror stories of enrollments gone wrong, there’s not a lot of positive hype regarding the open enrollment season. It can be easy to let your mind wander and imagine a less stressful world without AE.
Last year BankRate.com published a survey to prove how much American consumers enjoyed going through annual enrollment. Choosing a medical plan and figuring out HSA contributions? We can’t figure out what’s not to love! The respondents, however, were a tough crowd. 75% said they would prefer to do their taxes rather than enroll in benefits. 73% said they would rather be stuffed into the middle seat on an airplane, and 64% said they’d prefer to have a tooth filled. Yikes! That’s right, HR. This is what you’re up against.
Which of these is not like the other? We trust you to know the answer. Americans love shopping, but not for health benefits. Bankrate.com published a survey that further proves that shopping for benefits is not at the top of consumers' wish lists this year. Take a look at the percentage of respondents who said they'd prefer to do the following activities rather than compare health plans:
Seth Godin wrote a short post this morning titled “Sign Your Work” that I feel really aligns with our belief on transparency. His take was that we expect everyone—from authors to surgeons to lawyers—to sign the work they do. Why? As Seth put it, “If you’re not proud of it, don’t ship it. If you are, sign your work and own the results.” We couldn’t agree more. Seth’s thoughts reiterated exactly why we place such high value on our philosophy of trust and transparency, as both are core to the culture we have all worked to create.