“The Affordable Care Act has really shone a light on how data has to flow from one system to another,” says Gerry Leonard, president, ADP Benefits Services.
When it comes to benefits and HR technology, there is no one-size-fits all product, says Chris Pinc, director of product management for Towers Watson’s data surveys and technology line of business. “Employers first need to really understand how far they are willing to push the envelope in terms of new trends and make sure that the software that they buy is going to meet the needs of where they are right now and where they are likely to be in near term.”
ADP’s Leonard agrees. “Watch out for the bells and whistles pitch,” he advises. “Because there’s a lot of software that will do what looks like everything under the sun. You really have to understand what does it take to service the technology – where are employees going to call if they get stuck with password resets? Where do your practitioners pick up one chunk of data and move it to another?”
Being a part of a company that doesn’t provide everything we could possibly think of, but rather the best version of the best tools for brokers and employers, we get this logic in its entirety. We get you the best and biggest variety of health insurance options, the most hands-on assistance, expertise… It’s frightening to see how employee benefits are becoming big business.
Forty-five percent of respondents to Employee Benefits News’s latest survey say they plan to increase spending in 2016 on benefits enrollment systems, 47% say they plan to increase spending next year on benefits administration systems and 36% plan to increase spending on employee benefit portals (respondents were allowed to select more than one option.)
No! Why spend tens or hundreds of thousands of dollars a year on a product that should be free?