$750 a Year Wasted In Benefit Errors [Infographic]


Are Your Benefits Administration Processes Efficient?Employee benefits and annual enrollment may not be the glamorous part of human resources, but they are essential to retaining employees.  Paycom has put together a great infographic representation below (or you can view here). Some of the statistics are surprising.

The highlights:

  • For those that implement annual enrollment, HR professionals admit that planning and executing a successful campaign takes up 50% of their time at work.
  • And while HR professionals are deeply immersed  in annual enrollment, our employees are not.  Sixty-five percent of employees admit that they are not prepared for making their employment benefit selections.
  • Bad decisions are costly for employees which is why employees must be communicated about employer benefit coverage changes and offerings over and over and over again.  Employees on average waste $750 a year of their salary on benefit selection errors.

Infographic after the jump…

Are Your Benefits Administration Processes Efficient?

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