Dynamic Work/Life Solutions Blog

Life Event Technology

Posted by Blog Tipster on Thu, Nov 03, 2016 @ 11:07 AM

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With the myriad of software and mobile apps designed to simplify benefit administration, the focus shifts from meeting employee needs to consolidating employee benefits.  Employees become lost in a maze of benefits, resulting in underutilization of their benefits and a lack of knowledge about how their benefits can meet their everyday needs.  Life event technology changes all that by bringing the focus back to the individual – by addressing each individual employee’s unique life needs through harnessing the power of modern technology.

What is a life event and how do life events relate to benefits?  A life event is defined as “any significant step, event, or milestone a person may experience in their life”.  Consider all of the life events that employees may experience over the course of their career – from getting married, to pregnancy, to grief, to finding the right college for their child, all the way up to retirement.  With traditional benefit administration technology, benefits are consolidated but still siloed with no connection to the life events occurring in employees’ lives.  An employee purchasing a home has no guidance on how any of his or her existing benefits can help during the home buying process.  Similarly, an employee providing care for an ill family member is provided no information as to how his or her benefits can alleviate the stress of caregiving.  Using life event technology, an employee’s life event is the hub around which the employee’s benefits revolve, with each benefit applied to assist with each unique life event.

Let’s take a more in depth look at the two life events mentioned above that many employees experience to see how life event technology works to assist employees:

Purchasing a Home

Buying a home is a significant and often overwhelming time in a person’s life.  Fortunately, many employees have a variety of benefits available to support them throughout this process.  For example, an employee may choose to access their Retirement Benefit in order to borrow money against their 401K for a down payment.  The employee could utilize their Work/Life Benefit for assistance researching home prices, neighborhoods, school districts, moving companies, etc.  The employee could also use their Financial Benefit to learn about mortgage structures, interest rates, rolling property taxes into the mortgage or paying separately, etc.  Finally, the employee could access their pre-paid Legal Benefit to help review closing documents.

Caring for a Loved One With a Serious Illness

Helping a loved one through a serious illness is a stressful and emotional time that often impacts an employee’s overall productivity.  There are many benefits that can help with this distressing life event.  Of course, if the loved one is a dependent, the employee will be utilizing their Health Insurance frequently.  When dealing with a serious illness of a dependent, an employee’s Health Advocacy service would be very helpful with specialist referrals/pre-authorizations/bill mediation/medication information/etc.  If the loved one has a terminal illness, the employee should be reminded to review their Life Insurance benefit.  The employee could also utilize their free Legal Consultation to assist in developing an estate plan if the diagnosis is terminal.  Dealing with the illness of a loved one can be extremely stressful and an employee’s EAP is available to help them handle the situation.  Caring for a loved one can also be draining and even start to impact the employee’s own health.  By utilizing their Wellness Benefit the employee can learn relaxation techniques/healthy eating techniques/quick exercises/etc. to help keep themselves healthy.

As we can see, even the most unlikely benefits can complement one another.  With life event technology, employees receive individual guidance about how their benefits can work together to assist with their life events.  As a result, employers receive a higher return on investment of their benefit dollars while employees receive a much more effective benefit experience and customized guidance about their individual life needs.

Learn more about our life event technology and join the HR revolution by reviewing BalanceBenefits on our website.   You can order “Beyond Benefits” by Gene Raymondi, CEO and thought leader, watch our quick video, request a demo, or simply send us an email requesting more information.   

We look forward to helping you with your benefit needs!

Tags: Benefit Communication, Integrated Technology, Benefits, Life Events, Benefit Enrollment, benefit engagement, benefit mobile apps, benefit administration, life event technology

Corporate Culture: How Benefit Integration Promotes A Thriving Culture

Posted by Cindy Mccall on Wed, Oct 08, 2014 @ 01:53 PM

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Welcome to eni’s BalanceBenefits…we are expert designers of integrated benefits solutions, individually tailored to meet your unique and evolving benefit needs!

Through our BalanceBenefits blog posts, we’ve now introduced our integrated benefits model, which includes a Benefits Information Line and Web Portal. We’ve learned how our Integrated Benefits and Human Capital Design teams assisted us in designing a customized integrated benefits model, resulting in real ROI (“return on integration”)!  And, using our life event focus, we’ve also explained how BalanceBenefits connects employees to their benefits through “knowledge points”.  

Today we are going to talk about how benefit integration can have a real impact on your corporate culture:

We all know that successful companies have a strong and well defined corporate culture.  However, how does your company develop a thriving, consistent culture?   Well, one of the first steps in creating a strong corporate culture is to assess your organizational and human capital needs, identify employees’ perceptions, satisfaction, and engagement levels, measure employees’ connection to culture and vision, and clearly understand the strategic goals of leadership.  To do this, we recommend you work with eni to conduct a comprehensive needs assessment.  This assessment will identify your current corporate culture and your employees’ overall satisfaction levels.  Often companies find there is a disconnect between the views of the employees and those of leadership.  By conducting an assessment that identifies these differences, leadership can begin bridging the gap and moving the organization in the desired direction, while shaping the culture to support strategic goals. 

Our assessment also evaluates your employees’ understanding of their benefits package and uncovers which benefits they find useful, which benefits they underutilize, and which benefits they would like to see offered.  Our assessment sometimes reveals the majority of employees are unaware of the comprehensive nature of their benefit package and are even less sure about how to properly access their benefits!   Thus, an assessment provides valuable insights about your current benefit package which helps us identify the combination of benefits that will enable your organization to achieve the optimal benefits package.  Next, based on this assessment, eni will develop an individualized integrated benefits solution designed to meet and support your company’s human capital needs.  Once implemented, this will support recruitment and retention efforts, ultimately driving your organization to achieve the desired results.

In summary, BalanceBenefits benefit integration can help to provide a competitive edge, positioning your organization to recruit and retain talented employees that exemplify your corporate culture!

If you are ready to get started with your company’s needs assessment, contact eni today!  Or go to our website to learn more about our integrated benefits solutions, link to Amazon to get your copy of  “Beyond Benefits”, a newly released book by Gene Raymondi, eni CEO and industry thought leader, or watch our BalanceBenefits Integrated Benefits video

We look forward to helping you with your integrated benefit needs!


Tags: Benefit Integration, employee satisfaction, employee retention, Integrated Benefits, corporate culture, connect with eni, Benefit Information Portal, employee engagement, Benefit Information Line, Human Capital Design Team, Life Events

Life Events: How Integrated Benefits Work Together to Assist Employees

Posted by Melissa Mayfield on Wed, May 07, 2014 @ 03:31 PM

A “life event” is defined as “any significant step, event, or milestone a person may experience in their life”.  Consider all of the life events that employees may experience over the course of their career from getting married, to pregnancy, to grief, to finding the right college for their child, all the way up to retirement.  With traditional benefit administration, opportunities to use benefits to fully address life events are often missed.  However, through benefit integration, an employee’s benefits work together in a complimentary manner to support them at whatever life stage they are in.

Let’s take a look at two events that many employees will experience at some point in their lives and how their benefits can work together to fully address their needs:

Purchasing a Home

Buying a home is a significant and sometimes overwhelming time in a person’s life.  Fortunately, many employees have a variety of benefits available to support them throughout this process.  For example, an employee may choose to access their Retirement Benefit in order to borrow money against their 401K for a down payment.  The employee could utilize their Work/Life Benefit for assistance researching home prices, neighborhoods, school districts, moving companies, etc.  The employee could also use their Financial Benefit to learn about mortgage structures, interest rates, rolling property taxes into the mortgage or paying separately, etc.  Finally, the employee could access their pre-paid Legal Benefit to help review closing documents.

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Caring for a Loved One With a Serious Illness

Helping a loved one through a serious illness is a stressful and emotional time that often impacts an employee’s overall productivity.  There are many benefits that can help with this distressing life event.  Of course, if the loved one is a dependent, the employee will be utilizing their Health Insurance frequently.  When dealing with a serious illness of a dependent, an employee’s Health Advocacy service would be very helpful with specialist referrals/pre-authorizations/bill mediation/medication information/etc.  If the loved one has a terminal illness, the employee should be reminded to review their Life Insurance benefit.  The employee could utilize their free Legal Consultation to assist in developing an estate plan if the diagnosis is terminal.  Dealing with the illness of a loved one can be extremely stressful and an employee’s EAP is available to help them handle the situation.  Caring for a loved one can also be draining and even start to impact the employee’s own health.  By utilizing their Wellness Benefit the employee can learn relaxation techniques/healthy eating techniques/quick exercises/etc. to help keep themselves healthy.
 

elderly, eldercare, family, old people resized 600

As we can see, even the most unlikely benefits can complement one another.  Employers receive a higher return on investment and employees receive a much more effective benefit experience, designed to address their individual life needs, when benefits are integrated.

Learn more about BalanceBenefits on our website or download our complimentary Integrated Benefits e-book.

We look forward to helping you with your benefit needs!

Tags: Employee Benefits, Benefit Integration, employee satisfaction, employee retention, Benefit Information Portal, employee productivity, Benefits, Benefit Information Line, Life Events