How Reflection Can Drive Success in 2017

2016 brought several new challenges to the benefits landscape, and if the first month of the new year is any indication, 2017 will deliver plenty of complexities too. From uncertainty about the Affordable Care Act’s (ACA) future to the changing benefits needs of employees, we’re seeing a continuation of many key issues that marked last year.

With that in mind, the Businessolver team recently took time to look back on 2016 and the strides we made in helping our customers, employees and business innovate and overcome the toughest challenges. We highlighted some of our most notable achievements in our 2016 Mission Values Report, which inspired me to reflect on how we can continue the momentum established last year to successfully navigate the complicated road ahead.

Here are my thoughts on some of the biggest trends and challenges facing us in the upcoming months, and how we can use our experiences in 2016 to tackle them together:

Continuing uncertainty around the ACA

Last year, the ACA brought new responsibilities for employers, requiring them to track compliance and navigate IRS reporting and deadlines. To top it off, many of these changes were felt during a presidential election that kept the industry asking, “What is the future of the ACA?”

While it’s unclear what will happen with the ACA this year, the right technology solutions can help employers stay organized, efficient and prepared if or when changes happen. For example, our advanced ACA Audit Dashboard can ease HR professionals’ anxieties and headaches. Released in August 2016, the dashboard allows organizations to easily audit ACA-relevant data year-round. It’s the newest addition to our industry leading ACA Compliance Suite, which helped customers create and distribute more than 1.5 million 1095-C forms last year.

Growing popularity for HSAs

Whether an employee is using their Health Savings Account (HSA) for contact lens solution or their co-pay, this offering has revolutionized healthcare and the way people engage with their benefits. An estimated 26 million Americans are covered by some type of HSA-eligible plan, a number that’s been on the rise since 2003. And, we’ve already seen indications that HSAs will likely play a big role in the evolution or potential replacement of the ACA in 2017.

Our new HSA functionality, which launched in June 2016, offers greater flexibility around employer contributions. It also better aligns with IRS guidelines to help HR professionals manage changes and new complexities, which will be key as we continue in 2017.

Increasing need for user-centric design and empathy in the workplace

The U.S. workplace is constantly evolving, as new technologies continue to be introduced and younger generations take over the workforce. While innovation and change can certainly be positive, it isn’t always easy to adapt, and as a result, employee engagement and morale can suffer. More than ever, employers are looking for ways to motivate and connect with employees.

At Businessolver, we found that empathy is the key to creating bridges between employees, customers and partners to create a positive, productive work environment. To further examine the issue, we launched the first ever Workplace Empathy Monitor, which found the majority of U.S. employees and CEOs believe empathy is important in the workplace and are looking for ways to further foster it in their organizations.

As a result, Businessolver is working to integrate an empathic mindset into everything we do. Last year, we launched redesigns to our platform, which dug deeper into employee behavior to better understand our users and how our platform can support them in making the right benefits choices. In 2017, we plan to continue our efforts by having open conversations with HR professionals about how we can make our open enrollment process easier, more empathic and user-centric.

No matter what the year ahead brings, we’re confident we’ll be able to tackle the challenges by remaining committed to our mission to grow our business and delight our clients. We hope this year you’ll feel that mission in action firsthand as we partner to achieve your goals.