The Downsides of Self-Enrollment
In an age where many activities are moving online, some employers may consider moving their benefits enrollment online as well. While it may be tempting, we’ve seen firsthand that only about 12% of employees said they prefer self-enrolling (online by themselves) in their benefits without the help of an account manager.1
So, why are one-to-one sessions preferred over a self-enroll experience?
One-on-one enrollment sessions are proven to be more effective.
Whether in-person, over the phone, or virtually, research shows one-to-one sessions are the most effective benefits education technique. 93% of employees who have participated in one-to-one benefits counseling sessions found them valuable. Yet, only 15% of employees are offered this kind of personalized benefits enrollment experience.2 In one-on-one sessions, employees can ask questions about your specific benefits plans, as well as receive recommendations for their specific needs. One-on-one sessions are also helpful when employers make plan changes year to year. These meetings can also serve as a time to perform a dependent verification review, beneficiary audit, and more.
Employees want help understanding their benefits.
Employee benefits can be confusing, and employees want help. In a survey of American Fidelity customer groups, we learned that 84% of employees prefer individual support when enrolling in their benefits.3 Self-enroll platforms sometimes offer educational videos, blogs, and other materials, but they can only provide high-level information to your employees. These materials may not be specific to your benefits plan, or specific to your employees’ needs. Also, self-led education typically doesn’t provide the opportunity to ask questions.
Employee education also benefits employers. In fact, 77% of employees who understand their benefits offering said they saw themselves staying at their organization for the foreseeable future.4 When employees understand their benefits, they are also more likely to participate, which can result in payroll tax savings for employers. Learn more about the costs of not educating employees about benefits
American Fidelity is here to help.
American Fidelity’s dedicated account managers can provide a guided enrollment experience either in-person or virtually. We have enrolled over 1,600 groups in person at their worksite in 2020,5 and over 1,400 groups virtually since the pandemic began.6 Contact your dedicated account manager to get started!
This blog is up to date as of September 2020 and has not been updated for changes in the law, administration or current events.