Making the Most of Enrollment Season

Canadians are trying to rebuild a sense of security and normalcy after the COVID-19 pandemic, but it hasn’t been easy. From rising grocery prices to limited affordable housing options, more of us are feeling the financial and mental toll, and taking a closer look at what employers are offering in terms of support.

Meanwhile, as the year winds down, many employers are getting ready for one of the most important periods on the HR calendar: enrollment season. This window of time offers employers the opportunity to reassess and refine employee benefits packages and make data-driven decisions for the upcoming year. This means employees can review, select, and make changes to their plans that best support their life situations.

Ready to Enroll

Enrollment season is the time of year when employers have an audience ready to hear about benefits, so it’s a critical time to use creative and clear communication strategies to ensure employees understand the value of their benefits. Employees usually have the chance to select from a range of benefits, including health insurance, dental coverage, vision care, life and disability insurance, wellness programs, and flexible spending accounts (FSAs) to ensure they best suit their needs and lifestyles.

Employees typically spend little time selecting their benefits each year. Research shows that, while employers are trying to engage employees, some default into the same health plan from the previous year.  The choices employees make during this time can impact their health and overall well-being, so any ambiguity can lead to misunderstandings, and ultimately, dissatisfied employees.

By clearly communicating any changes, new options, and deadlines in an accessible way, employees are able to make informed decisions and feel supported in their choices. Revamping and offering attractive benefits packages, and communicating these effectively during enrollment season, can also be an effective tool for engaging employees, as well as retaining employees and attracting new talent, setting an organization apart in the competitive job market.

Maximizing the Employee Experience

A positive enrollment experience creates a workplace environment where employees feel valued, contributing to a workforce that’s more engaged.

Here are a few things to consider when looking to maximize enrollment season:

• Communicate Clearly: A MetLife study highlights a concerning fact: nearly half (45%) of full-time workers say they still don’t fully understand the elements of their benefits packages. The challenge lies in overcoming the barriers of jargon-laden documents, limited guidance, and an overwhelming influx of information. With more people working remotely, consider being creative with communication by using apps, online portals, and other digital channels to spread the word. Informational sessions or webinars can help employees understand the nuances of different offerings, and reminders can help ensure they don’t miss the window to make changes. Consider arranging for benefits experts to be available for consultations, whether through virtual sessions, or through a dedicated hotline.

• Delve Into Data: Analyzing claims data can reveal which benefits are most frequently used by employees. For example, if a significant number of employees regularly use mental health services, employers may consider expanding coverage in this area. Claims data can also reveal which medical services are most commonly accessed, and can potentially predict future needs. If data shows an increase in the number of employees seeking chiropractic care during winter, for instance, employers can anticipate this pattern during the next enrollment season. Data can also highlight any benefits that are underutilized, so employers can launch campaigns during enrollment season to raise awareness around these benefits.

• Expand Offerings: Employers are increasingly focusing on mental health benefits and wellness programs, such as employee assistance programs (EAPs) or counselling services, stress management programs, and mindfulness workshops. Benefits are now being extended to financial well-being and awareness, such as financial planning services, debt management resources, and even employer contributions to employee savings plans.

• Seek Insights: Conduct surveys to gather feedback from employees about their benefits preferences. Analyze the survey results to understand which benefits are valued the most and where improvements are needed. A study of more than 500 HR leaders shows that nearly half plan to run an open enrollment satisfaction survey to collect data on whether benefits are meeting the employer’s needs, whether employees understand the current benefits offerings, and how effective the communication was that employees received around enrollment. 

Employees are looking for companies that understand their needs. Benefits are powerful tools, and it’s critical for employers to make changes to their benefit plans to remain competitive and ensure their employees’ needs and lifestyle changes are being met. Contact us for advice on how to make the most of enrollment season and effectively connect with your employees about benefits.

Suggested Reading

Benefits Canada: Taking Annual Enrollment from Passive to Active

HR Brew: How to Demistify Open Enrollment

Additional Resources

MetLife: Employees Who Want Happiness and Stability Can’t Overlook Benefits: New Study

6 Must-Know Stats from Our 2022 Benefits Benchmark Report