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 tech that is used to track employee records is important and needs to be able to be modified to include benefits from both sets of employees. Some companies will opt to keep using both systems until a single employee benefits package can be acquired. The database often needs to be able to import the records of both companies in order to provide salary and benefits as needed.
Since the two companies are now combined, they have a new number of employees to negotiate with the health care providers. The executives need to be involved because this is a significant expense for the company. Simply rolling all employees into an existing plan often results in discord and will cost the company in lost talent as dissatisfied employees seek jobs elsewhere.
To be successful, the benefits need to be reviewed by both companies. The insurance companies can be expected to send a rep to renegotiate rates and options for the employees. With a larger pool, the rates could change quite a bit. This is a process that could take months and should not be rushed to avoid having an employee revolt.
Employee happiness is important. A survey should be conducted to ask employees what they like about their plan and what they would like to see in a new one. This will give insight as to what works and what can be left behind. Since people do not like change, making one that benefits all parties will help keep the employees happy and productive. Having a voice in the process will also help the employees feel that they matter.
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.
Once the new plan is in motion, take the time to do another survey. This time you can find out how it went and how everyone feels about the new options. Since the plan is different, expect some negative feedback, but overall you can see if people are satisfied with their choices. This is great information and can help shape future changes to the program.
Combining two companies is a complicated process. Taking the time to keep employees happy and make sure they have a voice in things that directly affect them will help with the combination. Walking people through the new benefits so they see the plus side will help prevent discord throughout the process.
The tech that is used to track employee records is important and needs to be able to be modified to include benefits from both sets of employees. Some companies will opt to keep using both systems until a single employee benefits package can be acquired. The database often needs to be able to import the records of both companies in order to provide salary and benefits as needed.
Since the two companies are now combined, they have a new number of employees to negotiate with the health care providers. The executives need to be involved because this is a significant expense for the company. Simply rolling all employees into an existing plan often results in discord and will cost the company in lost talent as dissatisfied employees seek jobs elsewhere.
To be successful, the benefits need to be reviewed by both companies. The insurance companies can be expected to send a rep to renegotiate rates and options for the employees. With a larger pool, the rates could change quite a bit. This is a process that could take months and should not be rushed to avoid having an employee revolt.
Employee happiness is important. A survey should be conducted to ask employees what they like about their plan and what they would like to see in a new one. This will give insight as to what works and what can be left behind. Since people do not like change, making one that benefits all parties will help keep the employees happy and productive. Having a voice in the process will also help the employees feel that they matter.
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.
Once the new plan is in motion, take the time to do another survey. This time you can find out how it went and how everyone feels about the new options. Since the plan is different, expect some negative feedback, but overall you can see if people are satisfied with their choices. This is great information and can help shape future changes to the program.
Combining two companies is a complicated process. Taking the time to keep employees happy and make sure they have a voice in things that directly affect them will help with the combination. Walking people through the new benefits so they see the plus side will help prevent discord throughout the process.
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