Employee Benefits Portal: What It Is and Why You Need It to Increase Employee Retention and Engagement

Sending new hires mountains of paperwork to enroll in their benefits. Combing through files and updating employee plan info. Chasing down team members for updated contact info so important tax documents go to the right address. 

Sounds like a blast, right?

A benefits portal can save you from this hassle. You’ll have one central place where employees can update and view their own benefits information. As an HR team, you can quickly manage plan details and benefits packages, instead of living in a paperwork nightmare.

Benefits aren’t just a secondary offering to your employees, either; they’re important for attracting and retaining top employees. According to a Staples survey, 62.3% of employeesfavor nicer workplace perks over a higher salary.

You’ve worked hard to put together a great benefits packagefor your team. Now you need to make sure they can take advantage so they stay engaged, with easy access to benefit summaries and plan info in one central portal.

What is an Employee Benefits Portal?

An employee benefits portal is a centralized online platform that provides employees with easy access to all of the information they need about their benefits. This can include details around health plans, dental and vision coverage, retirement savings options, employee perks and discounts, and more.

Some key features of employee benefits portals include the ability to view benefit plan descriptions, submit online forms, update payment and tax forms, and complete employee education materials and resources. Employees can also check their eligibility for things like discounts, wellness programs, and open enrollment.

The Advantages of an Employee Benefits Portal

Benefits portals are useful for both HR teams and employees, as they provide a convenient and centralized way for employees to access all of their employee benefits information, as well as for HR teams to communicate this information clearly and effectively.

For Employers

By providing a centralized, easy-to-use platform for employee benefit information, human resources teams can quickly answer employee benefit questions, and make changes and updates to employee benefits in real-time.

• Reduce the amount of time spent on employee benefits administration:By implementing an employee benefits portal, HR teams can easily manage employee benefit processes such as employee enrollments, changes and updates to employee benefits, and employee communications. This helps to reduce the amount of time spent on employee benefits administration tasks so that HR teams can focus on more strategic work that supports their organization’s overall goals.
• Empower employee engagement and retention:Empowering employees to see and access their full benefits package helps employees feel valued at work. Employees who are happy with their benefits are 70% more likely to remain loyaland continue working for their employer.
• Improve employee data accuracy and cut down on errors:By centralizing employee data into one platform, employee benefits portals can help to ensure that details are always accurate and up-to-date. This can help to reduce errors in employee communications, as well as employee enrollments, changes and updates.

Looking for inspiration as you build out your employee wellness program? Download our free guide to 101 employee benefits ideas.

For Employees

For employees, these portals help them to easily navigate and understand their employee benefits so they can take advantage of the perks and resources that your organization offers.

• Employees have easy, instant access to their benefits:With employee benefits portals, employees can access their employee benefits information 24/7 from anywhere, whether at work or on the go. They can view their health insurance cards for their health coverage with one click or check the balance on their flexible spending account (FSA).
• Self-service options:Employees are fully in control of their own benefits. They can opt in to plans and packages, look up key details, and take advantage of discounts at their leisure.
• They’ll understand wellness programs and offerings:By being able to view and take advantage of employee wellness programs in one place, employee benefits portals help your employees get more involved and invested in their own wellbeing.

What Should You Include in Your Employee Benefits Portal?

With the right employee benefits portal, you can make sure that your employees have access to the resources they need to make the most of their employee benefits.

Key Features of a Benefits Portal Software

When creating or implementing an employee benefits portal, there are a few key features that your organization should consider including. These may include:

• An employee directory and employee search functionality
• A benefits library with up-to-date information on all employee benefits programs and resources
• A benefits calendar to help employees easily keep track of important employee benefit deadlines such as employee open enrollment periods
• Automated employee communications, including emails and text messages, to help keep employees engaged with and informed about their employee benefits
• A wellness portal that provides access to employee wellness programsand resources, such as health screenings and fitness classes
• Tools for employees to update their own data and manage their account

Employee Resources

In addition to the tools and functionality mentioned above, your portal should also include a range of resources so employees can understand policies and pricing, request their benefits, and participate in trainings and programs.

1. Employee handbooks:Detail employment policies and provide copies of signed agreements and documentation.
2. Educational materials:Link to brochures or videos about employment benefit programs and options.
3. Employee self-service functions:Enable employees to make changes or updates to their benefits, plans, and contact information.
4. Training and onboarding materials:Build a library of videos, training documentation, and checklists for speedy onboardingand continuous learning and development.
5. Payroll and time-off information:Include employee paystubs and payment methods, and list your time-off policies and calendar in one central place.
6. Benefits policies and tracking:Detail employee benefits policies and track their usage for each employee in a personal portal so they know their standing in real-time.

Prioritize Self-Service to Promote Efficiency in HR Operations

One of the key advantages of employee benefits portals is their ability to empower employee self-service functions. Rather than relying on HR teams to handle every employee request or question, employee benefits portals can help streamline HR operations by giving employees the tools and resources they need to source information themselves.

This not only saves you a significant amount of time in the long run, but also helps to improve employee satisfaction by empowering them to make changes on their own and ensuring that their employee data is always accurate and up-to-date. Additionally, you’ll have access to detailed analytics and data on employee benefit usage and employee engagement. You’ll know exactly where employees are spending their energy and which programs are contributing to their overall wellbeing, so you can keep refining the benefits you offer.

With this knowledge, you can tailor a wellness program that serves each of your employees, reducing stress and increasing their engagement. Talk to one of our wellbeing specialiststo find out how to launch a successful wellness program! Our global network of gyms, trainers, and apps suit every employee’s journey, and our self-service options make it easy to manage your workforce’s wellbeing.

References

• Which Perks and Incentives Are Best for Employee Morale? 2020. Staples. Retrieved December 12, 2022 from https://www.staples.com/content-hub/culture/which-perks-and-incentives-are-best-for-employee-morale 
• The Rise of the Whole Employee: MetLife’s 20th Annual U.S. Employee Benefit Trends Study 2022. 2022. MetLife. Retrieved December 12, 2022 from https://www.metlife.com/employee-benefit-trends/2022-employee-benefit-trends/