By Kent Rausch, Senior Director of Product, ADP Benefits
Would you drive your car along the highway at night without any lights on? Me neither. Simple common sense dictates that this would not be safe or advisable. And yet, oftentimes when it comes to planning and delivering benefits strategy, employers are left out in the dark without key insights into why employees made the enrollment decisions they did (i.e. driving in the dark without your lights on).
Up to now, benefit administration systems have given data and insight around what benefits were chosen and by whom. But without the ‘why’ and accompanying behavioral insights, the ‘what’ and ‘who’ is of limited value. Just like driving along in the dark without headlights. Furthermore, benefits enrollment benchmarking data around these behavioral insights has been non-existent. In real terms, benefits strategies have been planned and delivered in 2D, when we all know the world is much more complex.
Consider the following example:
You’re a retailer with stores in many states. You have just launched a new benefits plan, but your data shows low adoption of the plan. So you decide to launch a different plan to drive engagement.
But you were acting on partial data. You didn’t have any benchmarking context. If you had, you would have seen that your time to enroll is much shorter than the industry benchmark, and that employees did not have enough time to complete the enrollment process. To help with this issue, you could have launched a mobile app with streamlined enrollment. Without this insight, the benefits adoption rate will continue to be low.
So what is ADP Benefits doing? With our immense amount of benefits data (we administer benefits to 1 in 8 employees in the U.S.); we just launched Annual Enrollment Snapshot + 365. This solution package, one part technology and one part service, will deliver critical behavioral and benchmarking insights to clients to help them continuously improve their planning and delivery of annual enrollment – effectively helping clients understand the behavioral drivers behind the decisions their employees make.
Finally, ADP Benefits clients can see the road ahead.
If you would like to find out more, visit ADP Benefits.