“41% of U.S. employees spend 15 minutes or less researching health care benefit options during open enrollment.” Do you remember this 2014 survey stat? It generated a lot of conversation among HR professionals — especially when compared to research that showed Americans spend at least two hours deciding which television to buy. We’re confident that the results would be much the same if the survey was conducted today. Employers are frustrated with employees’ lack of engagement in their benefits.

People are a company’s biggest expense. In the 2020 State of Talent Optimization Report, executives reported that 64% of their total company costs were salary and benefits. The most recent data from the Bureau of Labor Statistics shows that, in the private sector, benefits represent nearly one-third (29.2%) of total compensation. Given these numbers, it’s not surprising that employers are looking for ways to help employees better understand the value of their benefits — especially at a time when “retention” tops the list of many employers’ organizational concerns and HR priorities, regardless of industry or size.

We understand your pain. Every year you invest significantly in employee benefits that you believe will advance your recruitment and retention efforts. But if employees don’t know or understand the value of these benefits, you’re not getting a good return on that investment. The best way to counter this is with the one-two punch of technology and employee engagement.

An industry merger provides an expertise “twofer”

In January, iBenefit Communication (iBC) acquired Benefit Technology Resources (BTR). We brought our companies together into one cohesive team because it is apparent that employers want and need a more integrated employee communication and enrollment solution. Together, we offer:

• Top-of-the-line, best-fit HCM, Payroll and Benefits Administration delivery and consulting on the full spectrum of solutions designed to advance the organization’s people strategy, and
• Personalized employee communication and engagement support to educate employees on the value of their benefits and help them make informed choices using a high-touch approach that builds trust, creates loyalty, and increases retention.

Lean into the human experience to increase retention

The counselor-assisted approach to benefits enrollment is key to building a relationship with employees. Today’s employees want a more personal connection with their employer. Before the seismic shift to remote and hybrid work options, the HR tech market was trending towards greater employee engagement. This new norm only adds to the need to lean into the human experience.

Our combined services represent a total package to leverage benefits as a retention strategy. We’re also happy to assist you with just one (or any combination) of our service offerings, including:

• Benefits administration technology. Pre-vetted, versatile platforms with top-notch implementations and unmatched service and support.
• HR technology consulting. Expertise in HR tech procurement, analysis, and optimization to help you get the most out of your HR technology ecosystem. We’re a trusted advisor, providing independent and agnostic guidance to help you make sense of today’s complex HR tech marketplace and identify solutions to meet your unique needs.
• Personalized education and engagement. One-on-one, concierge-level benefits education and enrollment support with a Benefits Education Specialist for every employee, resulting in more informed employee decisions and a stronger employer-employee connection.

The employee-employer balance of power in the talent market has shifted, and the employee is in the driver’s seat. Employers are responding with better benefits to attract and retain good talent. Your benefit offering is one of your most important recruiting tools. Get the most from your investment with personalized employee engagement and education supported by technology that delivers an enhanced employee experience.

Contact your iBC or BTR representative to learn more and discuss your retention strategy.

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About the Author

Jamie Hawkins is Founder & CEO of Benefit Technology Resources. She has been in the HR Technology industry for over 20 years and is considered an industry thought-leader on providers, services, and trends.  Jamie serves as the Director of Technology for several well-known broker and consultant affinity groups, such as Benefit Advisors Network, and Assurex Global.  She is also a member of the Society for Human Resource Management (SHRM) and speaks throughout the US on HR Technology trends

About the Author

Phillip Goodrum is Founder & CEO of iBenefit Communication. Phillip has a diverse background leading multiple businesses in the technology, insurance and healthcare sectors. He holds a Bachelor of Arts Degree in Communications from The University of Tennessee and a Masters Degree in Business Administration from the Jack C. Massey School of Business at Belmont University. Phillip resides in Charlotte with his wife and five children.

It’s no secret that employers need more these days. With ever-changing workforce challenges, employers need more support, more time, and more tools. Our merger with iBenefit Communication is designed to meet the need of employers looking for more.

Many have congratulated and joined us in celebration of our new partnership, which we appreciate. We are excited to expand these service offerings to our clients in a big way. This opportunity will allow us to combine our HR Tech experience with personalized enrollment assistance from a cohesive team that delivers concierge-level service and support. It really is a win/win for employers.

Health benefits are becoming increasingly complex, and we feel it’s important for employees to understand the benefits available to them. Elements such as easy access to information and benefits counselors equip employers for success in their benefits strategy. With The Great Resignation affecting just about every industry, employers are searching for an “easy button” to execute their vision. This partnership brings us the ability to immediately counsel new hires, onboard an acquisition, or support any number of challenges an employer may be facing.

We really believe this merger between BTR and iBenefit will bring enhanced solutions to the market in a more integrated way. In the near future, we will be working on even more innovative solutions that will be unique in our industry – stay tuned!

If your organization is looking for support with HR technology or enrollment strategies, please email us at BTRProjects@bentechre.com.

BTR was founded in 2008 by Jamie and Terry Hawkins. The Company, headquartered in Tampa, FL, is a leading HR Technology consultancy and deployment firm. BTR supports approximately 400 employer groups across the nation and works with market leading insurance brokers and consultants.
Based in Charlotte, NC, iBenefit provides employers with engagement, retention, and enrollment services. iBenefit is a portfolio company of MSouth Equity Partners with offices in Atlanta, GA. and Nashville, TN.

Combining BTR’s HR technology consultation and deployment services with the personal enrollment and communication services of iBenefit is a win/win for clients and broker partners. Health Benefits are becoming increasingly complex and employers are looking for better-enhanced and more integrated employee communication and enrollment solutions.

“This merger will expand the service offerings to our clients in a big way. They are asking for more support in the area iBenefit specializes in. This opportunity will allow us to combine our HR Tech experience with personalized enrollment assistance from a cohesive team that delivers concierge level service and support. This transaction allows BTR to retain its stature while having the resources to focus on innovative service offerings for our customers,” said Jamie Hawkins, CEO of BTR.

“This merger helps take iBenefit to our next phase of growth with the delivery of a broad portfolio of products and services that brokers, consultants and their clients seek everyday: employee engagement, retention, and best in class payroll and benefit administration solutions,” said Phillip Goodrum, CEO & Founder, of iBenefit.

Brentwood Capital Advisors LLC served as BTR’s exclusive financial advisor on this transaction.