Small and large companies merge all the time. When they do, there is an incredible task ahead of both as they begin to pull together the different systems used for human resources, customer service, and others. Employee benefits are one area that needs special attention because mishandling it may cause discord and even an exodus of important team members. Doing proper healthcare post acquisition integration takes time and effort to be done with minimal negative results.
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.
Merged companies usually have different health care plans and providers. This area will require decisions from the top level to be completed. One program may be better than the other, but also more costly. Deciding what will be offered will change one or both sets of employees benefits along with the cost of the plan. Many mergers will either completely fold one set of employees into the other plan or come up with a new one that offers the best choices of both plans.
For this integration to be successful, a benefits review needs to happen. Both insurance companies will send representatives and work with the HR staff in coming up with a better deal that includes the larger set of workers. This may take months to accomplish since everything from the benefits offered to the cost the company or employees will have to pay may change from the previous plans.
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.
Singing up for a new plan is not easy. Get the insurance company to send reps to help with the process. They can train HR staff to answer questions about the options and how to fill out the form. Having prefilled forms will help speed up the process. The costs and options should be easy to understand and staff should be able to help guide people to the right choice based on their own family situation.
After the new plan is in place, do another survey. This is a time where you can find out if your efforts paid off. Do not expect everyone to be completely happy, but expect satisfaction in most areas. You will also want to get information on how difficult the workers found the process and if they feel their input was valued.
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.
Merged companies usually have different health care plans and providers. This area will require decisions from the top level to be completed. One program may be better than the other, but also more costly. Deciding what will be offered will change one or both sets of employees benefits along with the cost of the plan. Many mergers will either completely fold one set of employees into the other plan or come up with a new one that offers the best choices of both plans.
For this integration to be successful, a benefits review needs to happen. Both insurance companies will send representatives and work with the HR staff in coming up with a better deal that includes the larger set of workers. This may take months to accomplish since everything from the benefits offered to the cost the company or employees will have to pay may change from the previous plans.
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.
Singing up for a new plan is not easy. Get the insurance company to send reps to help with the process. They can train HR staff to answer questions about the options and how to fill out the form. Having prefilled forms will help speed up the process. The costs and options should be easy to understand and staff should be able to help guide people to the right choice based on their own family situation.
After the new plan is in place, do another survey. This is a time where you can find out if your efforts paid off. Do not expect everyone to be completely happy, but expect satisfaction in most areas. You will also want to get information on how difficult the workers found the process and if they feel their input was valued.
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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