Businessolver Blog

5 Ways HR Needs to Prepare for the Future

5 Ways HR Needs to Prepare for the Future
Posted on Monday, January 25, 2016 by Rae Shanahan

With the demographics and expectations of the U.S. workforce shifting, it’s never been more critical or challenging for companies to future-proof their HR strategies. And there’s no doubt that benefits will continue to play a huge role in determining how companies plan to spend money on their employees. We believe that you can’t prepare for the future of HR unless you aggressively address benefits. Here’s 5 tips that HR can use to prepare itself for the near-term:

  1. Don’t overlook the importance of data security.
    It’s critical that HR closely examines the data-security practices of its benefits administration vendors. Human error plays a role in 84% of organizational incidents related to security breaches. Can you say you trust the people behind your HR technology?
  2. Prepare for the unintended consequences of the ACA
    The ACA is here to stay, and isn’t something you should mess with.
  3. Communicate choices and changes to employees
    Whatever your strategy, HR will need to do more to communicate choice and changes to employees. Our MyChoice recommendation engine is a dynamic tool that asks employees simple questions in plain language about their feelings around insurance and tolerance for financial risk—helping employees make the right choice no matter the number of options.
  4. Build a benefits strategy that aligns with and strengthens your culture
    Benefits are an important and often overlooked component of employment brand and organizational culture. You’ll need to clearly define your benefits strategy with your employees.
  5. Improve employee engagement by increasing transparency
    Give your employees a complete “one-wallet” picture of benefits offerings and expenses that support the whole person—financial, emotional and overall health needs. With that data and insight, you can better plan for the future and have a more positively engaged employee population.
  6. Partner effectively to manage complexity
    The changes occurring in benefits modeling and administration are too big for HR to go it alone. If you’re going to drive employee satisfaction and overall wellness, you need partners that can really support more options, wider choices and the great complexity for your benefits team.

To get more details on these tips to prepare for the future, check out our article in this month’s edition of HR Executive Magazine!