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Unlock employee insights with enrollment data

2 employers gathered around a large screen analyzing data

Evolve your benefits offering with data-backed insights

As an employer, it's essential to offer a comprehensive benefits package that aligns with the needs and preferences of your employees. One of the most effective ways to gain insights into your workforce's preferences is to review employee enrollment data.

 

Key insights from enrollment data 

By analyzing enrollment data, you can uncover valuable information, including:

  • Most popular benefits: Identify which benefits are most frequently chosen by your employees. This information can help you prioritize offerings and allocate resources accordingly. 
  • Underutilized benefits: Determine which benefits are not utilized as much as expected. This could indicate a need for better communication or adjustments to the offerings. 
  • Carrier performance: Evaluate the performance of different carriers in terms of cost, service, and claims processing. This information can help you negotiate better rates and ensure your employees receive quality care.

 

Using data to improve your benefits package 

Once you've analyzed your enrollment data, you can take steps to improve your benefits package: 

  • Tailor offerings: Adjust your benefits offerings to better meet the specific needs of your workforce. For example, if many employees have young children, consider adding childcare benefits or flexible work arrangements. 
  • Negotiate better rates: Use your enrollment data to negotiate more favorable terms with carriers. By demonstrating the value you bring as a customer, you can secure better rates and benefits for your employees. 
  • Enhance communication: Improve communication about your benefits offerings to ensure employees understand the available options and how to take advantage of them. 

By regularly reviewing employee enrollment data, you can gain valuable insights into your workforce's needs and preferences. This information can help you make informed decisions about your benefits package, ensuring that your employees are satisfied and well-supported.

New York Life Group Benefit Solutions products and services are provided by Life Insurance Company of North America, New York Life Group Insurance Company of NY, and New York Life Insurance and Annuity Corporation, subsidiaries of New York Life Insurance Company. Life Insurance Company of North America is not authorized in NY and does not conduct business in NY.

SMRU 7221209 Exp. 10/25/2027