Best practices for employers during virtual open enrollment
Managing a virtual open enrollment period understandably poses a challenge, but the proliferation of remote work also presents new opportunities.
The coronavirus pandemic has fundamentally altered both the way many organizations operate and the means by which they support their employees. This year’s open enrollment period is no exception. With more than half of U.S. employees continuing to work remotely in some capacity, employers have not only had to reconsider their benefit offerings, but the way they will communicate them to employees in a fully remote or hybrid workplace.
Many tried and true methods, like in-person presentations and worksite benefit fairs, are difficult or impossible to implement in this environment. At the same time, the most common benefits elected during open enrollment, like health and life insurance, are especially vital as the pandemic continues.
Related: Are you ready for enrollment season amid COVID-19?
Managing a virtual open enrollment period understandably poses a challenge for employers, but the proliferation of remote work also presents new opportunities. The following are some best practices companies can employ to improve communication and increase engagement as employees consider benefit elections this year.
Less is more
Employees are already navigating so much uncertainty in 2020. Employers should do everything they can to avoid making open enrollment another source of stress. This starts with assessing the value and relevancy of the benefits they offer.
To provide a sense of consistency for employees, many of the employers that Ayco works with have chosen to make relatively few changes to their benefit offerings this year. Where changes have been made, they have tended to focus on areas directly impacted by the pandemic—most commonly adjusting the timeframe for enrollment windows, adding lower deductible health plan options and mental health benefits, modifying wellness incentive programs to accommodate COVID-19 restrictions and updating paid leave and care benefit programs.
Innovation in presentation
While companies are generally planning to make subtle changes to their offerings this year, innovation in how they are presented can provide value without shaking the table. The realities of working from home make it harder to talk with colleagues about enrollment elections. This has created a need for new methods to help employees answer the important questions facing themselves and their families. Virtual resources have surged in popularity as an effective way to help remote employees access information and connect with HR professionals and benefit partners.
Many of our corporate partners have found success holding virtual drop-in sessions on video platforms to discuss specific types of benefits. These recreate the feel of a benefit fair, but with an added layer of personalization. Rather than wading through a sea of overwhelming options, employees can select the sessions that resonate with their individual situations, such as a presentation on child-care benefits for new parents. For companies with a holistic financial wellness offering in place, these sessions can be staffed by financial advisors to help employees understand and maximize the value of their benefit offerings.
With open enrollment elections often being made from home around family, there has been an increased focus on collective decision making, creating yet another potential audience for these virtual resources. Companies have also seen success starting their communications early and keeping up a steady cadence throughout the enrollment window, allowing employees time to digest and absorb their options at their own pace.
Collaboration and creativity are key
Regardless of what benefits employers choose to offer, they do not need to face open enrollment alone. Benefit providers have been preparing for this scenario for months and are actively working with organizations to bridge this virtual gap and help ensure employees can make educated, confident benefit decisions.
To encourage engagement, some employers are creating entire virtual benefit fair experiences by requesting vendors provide on-demand presentations and digital materials that are then housed internally in a centralized location (e.g., an intranet) for easy access. In addition, benefit providers may be able to reach out directly to employees through email, home mailers and small virtual group sessions—and even offer one-on-one support.
While vendors support internal HR teams throughout the year, they can provide targeted assistance during open enrollment. As employers update their benefits guides this year, consider asking providers for new and refreshed language to reflect the current landscape and better align with existing company communications.
Innovation has always been important to benefit planning, but this year it is essential. By simplifying the process, embracing digital delivery and collaborating with vendors and employees alike, employers can make this year’s open enrollment period a virtual success.
Greg Wilson is the head of workplace solutions at Ayco. Ayco, a Goldman Sachs Company, is an industry pioneer and preeminent leader of company-sponsored financial counseling services.
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