Throughout the year companies will merge and combine resources. When they do, there is a lot of work ahead as they start to put together the various systems that each one uses for everything from human resources to customer service. In some cases, the new company will simply move everyone to the other system. Most cases will require migrating data and programs to benefit the new company. One area that needs to be carefully handled is the healthcare post acquisition integration. This includes moving employee data around and most importantly figuring out what and how to offer in health care plans to the employees. Discord can happen if it is not handled the right way.
The technology that HR uses includes all employee records. The payroll information is often contained in this database. It will also include information on what provider and plan the workers are signed up for health care. To get everything on the same page, they need to combine the information into a single system without losing important data.
When two companies merge, they usually have different providers and plans. Making the decisions on what to offer requires input from both the executives and the employees to be successful. One plan may have more options but be more costly to the company or worker. The other plan may have fewer options but be desired because it is cheaper for everyone. No one wants to lose benefits they are used to, so this will take some time and navigation.
A benefit review should be done with both plan providers. Since the number of employees that will be included has changed, this gives the company leverage to get better pricing. The providers will send reps to discuss the options and provide a new plan idea that needs to be reviewed and compared. There will be a lot of negotiation during this period and it should not be rushed.
Do an employee benefits survey. This not only gives the HR staff a great amount of valuable information on what options the employees desire the most but also gives the employees a stake in the process. Simply being asked what they want is a great way to increase employee satisfaction with the process.
Signing everyone up on the new plan requires assistance. Insurance forms are notoriously difficult to complete. Having representatives from the company help both HR staff and workers get signed up on the new plan helps reduce the stress this can cause. Most employees will need to consider different options based on their own family situations and may need to discuss it with their family before signing up. Having a solid deadline and help along the way will make a smooth transition.
Once everything is in place, it is time to have another survey. This one will help point out flaws in the system of signing people up. It can also provide feedback on how satisfied everyone is with the new plan. Don't expect everyone to be thrilled, but you can gauge if the new plan works for the majority of people based on the cost and options.
It is not easy combining two companies into one. The process can be difficult and time-consuming. Taking the time to evaluate the benefits and options is important. Including the employees in the process can stifle future discord since their suggestions are included in the final plan.
The technology that HR uses includes all employee records. The payroll information is often contained in this database. It will also include information on what provider and plan the workers are signed up for health care. To get everything on the same page, they need to combine the information into a single system without losing important data.
When two companies merge, they usually have different providers and plans. Making the decisions on what to offer requires input from both the executives and the employees to be successful. One plan may have more options but be more costly to the company or worker. The other plan may have fewer options but be desired because it is cheaper for everyone. No one wants to lose benefits they are used to, so this will take some time and navigation.
A benefit review should be done with both plan providers. Since the number of employees that will be included has changed, this gives the company leverage to get better pricing. The providers will send reps to discuss the options and provide a new plan idea that needs to be reviewed and compared. There will be a lot of negotiation during this period and it should not be rushed.
Do an employee benefits survey. This not only gives the HR staff a great amount of valuable information on what options the employees desire the most but also gives the employees a stake in the process. Simply being asked what they want is a great way to increase employee satisfaction with the process.
Signing everyone up on the new plan requires assistance. Insurance forms are notoriously difficult to complete. Having representatives from the company help both HR staff and workers get signed up on the new plan helps reduce the stress this can cause. Most employees will need to consider different options based on their own family situations and may need to discuss it with their family before signing up. Having a solid deadline and help along the way will make a smooth transition.
Once everything is in place, it is time to have another survey. This one will help point out flaws in the system of signing people up. It can also provide feedback on how satisfied everyone is with the new plan. Don't expect everyone to be thrilled, but you can gauge if the new plan works for the majority of people based on the cost and options.
It is not easy combining two companies into one. The process can be difficult and time-consuming. Taking the time to evaluate the benefits and options is important. Including the employees in the process can stifle future discord since their suggestions are included in the final plan.
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