Newport Beach, CA/June 7, 2011 — Secova Inc., a leading provider of Health and Welfare Benefits administration services, today offered insight into the current state of benefits administration with the release of its new survey. “Maximize Your Employee Benefits: Benefits Administration Trends, Strategies and Insights” is available for download.
The survey report was undertaken to gather benchmarking data useful to benefits administrators to support their organizations’ overall benefits management and administration strategies and to offer insights into emerging trends and best practices.
Among a host of useful data, the survey found that:
1. Cost remains important, but compliance with the Health Care Reform Act is the top concern among benefits administrators.
2. The challenge for HR is to continue to migrate employees toward using more cost-effective support systems, such as online administration and call center support, while still serving people’s needs effectively.
3. Widespread concern with enrollment systems abounds, with 48 percent of respondents citing an increased need to ensure the accurate and secure exchange of data.
“Helping to maximize your organization’s investment in employee benefits has become increasingly difficult over the past several years as internal resources have diminished steadily while employee benefits costs have escalated exponentially,” said Venkat Tadanki, CEO. “It’s our goal to provide administrators with critical information that can help them manage, control and even reduce costs, and we hope this report does just that.”
The survey was conducted during the early stages of health care reform among senior executives, directors and managers directly responsible for employee benefit plan decisions and for achieving the strategic goals of their organizations. More than 131 employers of all sizes and from a wide variety of industries are represented in the responses gathered. Employer size ranges from just a handful of employees to those who have well over 50,000 employees worldwide. Participating organizations operate in industry sectors that include education, finance, services, technology, health care, government, manufacturing and retail. All participant-related data were kept strictly confidential.
To access Secova’s complimentary survey report, “Maximize Your Employee Benefits: Benefits Administration Trends, Strategies and Insights,” follow the link: http://www.secova.com/company/news/releases/surveyreport.asp.
Secova is a leading Benefits Management Services company that delivers customized “Value-Sourced” solutions designed to enhance services and reduce operating costs. The company’s mission is to help its clients control and drive down the cost of delivering Human Resources & Employee Benefit Services.
Heath Davis Havlick
Fisher Vista, LLC / HRmarketer.com
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This press release was distributed through PR Web by Human Resources Marketer (HR Marketer: www.HRmarketer.com) on behalf of the company listed above.