Talent Management - November 2008 - (Page 25)

Figure 2: Capabilities in Managing Benefits Programs Best-in-Class Average Laggards 47% Document procedures for collecting benefits data. 63% 54% Process Maintain competitive parity (e.g., ensuring benefit program competitiveness in the market). 23% 19% 6% Organization Employees provided access to full benefits menu and offering descriptions. 69% 62% 47% Regular communication of benefits offerings provided to groups/workers who could benefit the most. 61% 48% 37% Knowledge Provide employees with self-service portal for viewing individual plan data. 56% 45% 39% Historical benefits election and trend information captured for analysis. 53% 42% 40% •45% have benefits management application that works with multiple benefits carriers and payroll vendors. •42% integrate benefits data with compensation management system. •31% integrate benefits data with employee performance management system. •22% integrate benefits data with workforce planning application. • 36% have benefits management application that works with multiple benefits carriers and payroll vendors. • 32% integrate benefits data with compensation management system. • 23% integrate benefits data with employee performance management system. • 14% integrate benefits data with workforce planning application. • 25% have benefits management application that works with multiple benefits carriers and payroll vendors. • 21% integrate benefits data with compensation management system. • 11% integrate benefits data with employee performance management system. • 4% integrate benefits data with workforce planning application. Technology Performance Review effectiveness of benefits program offerings at least every six months. 42% 21% 18% Review effectiveness of benefits management system at least every six months. 29% 19% 14% Source: Aberdeen Group, July 2008 remain competitive with the overall beneﬁts plan requires that employees be involved in plan management while organizations work to ﬁnd the right balance of need-to-have and nice-to-have offerings. Heal Thyself Having identiﬁed the symptoms of an ailing beneﬁts program, many organizations stand in their own way when attempting a cure. Survey data revealed the following challenges to managing a beneﬁts program effectively: • 72 percent cite budget as the top challenge. • 24 percent cite employee resistance to change. November 2008 • 18 percent cite a lack of automation in beneﬁts data collection and management. talent management magazine www.talentmgt.com 25 http://www.talentmgt.com

Table of Contents Feed for the Digital Edition of Talent Management - November 2008

Talent Management - November 2008 Editor’s Letter Contents Human Performance Leading Edge Learning Connections Recruitment & Retention Assessment & Evaluation Compensation & Benefits Performance Management Learning & Development Succession Planning Insight Dashboard Application Advertisers’ Index Editorial Resources Full Potential

Talent Management - November 2008

For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.