Throughout the year companies will merge and combine resources. When they do, there is a lot of work ahead as they start to put together the various systems that each one uses for everything from human resources to customer service. In some cases, the new company will simply move everyone to the other system. Most cases will require migrating data and programs to benefit the new company. One area that needs to be carefully handled is the healthcare post acquisition integration. This includes moving employee data around and most importantly figuring out what and how to offer in health care plans to the employees. Discord can happen if it is not handled the right way.
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.
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.
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 everything is in place, it is time to have another survey. This one will help point out flaws in the system of signing people up. It can also provide feedback on how satisfied everyone is with the new plan. Don't expect everyone to be thrilled, but you can gauge if the new plan works for the majority of people based on the cost and options.
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.
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.
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 everything is in place, it is time to have another survey. This one will help point out flaws in the system of signing people up. It can also provide feedback on how satisfied everyone is with the new plan. Don't expect everyone to be thrilled, but you can gauge if the new plan works for the majority of people based on the cost and options.
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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