If you’re considering starting an RFP process for your benefits administration, you are already aware of the amount of time and effort that goes into the decision. It’s a long journey, but a worthwhile one, as working with the right vendor is crucial in creating a positive benefits experience for your employees. Whether it be price point, technology, or culture fit, there are many factors that go into choosing a vendor. Rather than diving in headfirst, you need to put together a plan and compile best practices for a smooth, effective, and successful RFP process. Following our webinar, 5 RFP questions you aren’t asking – but should, we’re sharing additional details on how HR pros can make the process more effective with these six tips:
As HR professionals know all too well, the RFP process can seem a bit overwhelming. Requesting proposals for a benefits administration system involves all sorts of factors, from identifying what your employees need to evaluating technical capabilities, not to mention determining the right price range.
“Hello…it’s me.” They’re only three little words, yet they’re so powerful! Now, as soon as we see those words, most of us can’t help but hear the melancholy intro to Adele’s chart-topping hit in our minds.
The right vendor partner can be an incredible advantage in the world of benefits administration. However, finding the perfect match is not easy and getting started is challenging, to say the least.
Recently, we partnered with Employee Benefits News and RFP365 to share our expert insight on how to master the RFP process and find the right benefits administration partner for you and your organization. If you weren’t able to join, have no fear. Here are a few of our top tips on how to successfully navigate the complex journey of issuing an RFP and finding a new vendor partner.
It's that time of year when the craziness of annual enrollment is finally wearing off. You survived, it’s a new year, and while it’s easy to just bask in the “done-ness” of annual enrollment, now is the most important time to evaluate the success of your annual enrollment to help determine your strategy moving forward.
Right now, you may be deep in the weeds of annual enrollment. But pretty soon, the enrollment window will close, the dust will settle, and you’ll sit down to review this year’s experience and decide what changes you want to make for 2016.
Maybe you’ll decide just a few wrinkles need to be ironed out. Or maybe you’ll decide it’s time to throw in the towel and bring in a new partner for your benefits administration and technology. Either way, it’s a good idea to at least see what’s out there that might make annual enrollment and ongoing benefits administration more efficient, more cost-effective, and more valuable to your employees and to the company as a whole.
We're looking forward to our third and final webinar in our RFP series, "Technology Implementation--How to Live in Wedded Bliss with Your Service Provider", tomorrow at 1 PM CST. Rae Shanahan and Rhonda Marcucci will be providing insight that will help create “wedded bliss” during implementation -- defining roles within the relationship, how to communicate and avoid breakdown, determining the best way to resolve conflict and how to watch for red flags. In case you missed Part II, "Getting Engaged to the Right Vendor", we thought we'd do a quick recap on preparation, finalist meetings, selecting the right vendor and getting that contract signed!
Last month we hosted our “Art of Conducting an RFP” webinar, presented by Jon Shanahan and Rhonda Marcucci, that went over the first four steps in the benefits administration RFP process. We had an outstanding turnout and by popular demand we'll present Part II entitled "Put a Ring On It: Getting Engaged to the Right Vendor" on February 26. In case you missed the first webinar, we thought we'd catch you up with a quick recap so you're ready for Part II (you can also view the webinar recording here). Read on to find out how you can plant the seeds for a long-lasting and mutually beneficial relationship between your company and your future benefits administration partner.
When you issue an RFP, you want results that will help you accurately evaluate benefits technology and services providers. Providers, meanwhile, are eager to showcase their strengths. Ultimately, both of you want to establish whether you’re a good fit for each other.
While you are looking for information from the service provider in terms of capabilities, there is also key information that must be provided to them – a common oversight in the RFP process and one that is necessary to ensure accuracy.
No matter your position on Sony's capitulation to the threats of cyber hackers, it is clear we now have a new paradigm in cyber security.
It was only a few weeks ago I was having a conversation with a friend. We were discussing the risk – a risk inherent in the business of benefit administration – that comes with our responsibility for managing private, personal and health information about the individuals who use our systems to select their benefits. You may or may not be surprised to hear that there is now an open market for this information and that its value varies – as does any commodity – with supply and demand. A very interesting article, here, regarding the drop in value of credit card information immediately following the Home Depot attack, highlights the sophistication of the people who seek this data.
But this is small potatoes.
It's that time of year when the bulk of annual enrollments are coming to a close, and insurance cards are (hopefully) being prepped to send out. While it's easy to want to forget about benefits for a while and just bask in the "done-ness" of annual enrollment, now is also a crucial time to evaluate how your enrollment went.
What percentage of your employees enrolled? Were they satisfied with their experience? What were the snags? Were you satisfied with your experience?
If you weren't completely satisfied, you're not alone.