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Trends in Benefits Web Technology: 2006 Research Among Benefits Plan Sponsors. Introduction. Research Objectives. To determine through market studies:. The availability of group life and disability web tools for use by benefits plan administrators and plan participants.
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Trends in Benefits Web Technology: 2006 Research Among Benefits Plan Sponsors
Research Objectives To determine through market studies: • The availability of group life and disability web tools for use by benefits plan administrators and plan participants. • The frequency of use of group life and disability web tools by plan administrators. • The satisfaction of plan sponsors with the performance of group life and disability web tools, in terms of functionality, navigation, content, and accessibility—for plan administrators and participants. • The primary objectives of plan sponsors who have implemented benefits web tools and how well those objectives have been met.
Study of Employee Benefits: 2006 & Beyond # Employees Region Industry
2006 Plan Sponsor Web Benchmarking Study Group Life Web Technology Group Disability Web Technology
Frequency of Using Benefits Web Tools Among Plan Administrators
Functionality Used Most Frequently by Plan Administrators % Doing Each Activity Online Daily or Weekly Net Daily/Weekly
Usage of Benefits Web Technology by Company Size Frequency of Use Number of Functions Used* *Low = 2 functions or less; Medium = 3 to 9 functions; High = 10 or more functions
Plan Sponsors Making Benefits Web Tools Available to Employees % of Companies Providing Employees Access to These Tools
Plan Sponsors Making Benefits Web Tools Available to Employees—By Company Size 68% 59% 48% 10,000+Employees 100-999Employees 1,000-9,999Employees
Theme I Removing Barriers to Promote Usage
Removing Barriers Overall Satisfaction of Web Benefits Technology—By Usage and Number of Functions Used Online Tool Usage Number of Functions Used* *For number of functions used, the categories were created by counting the number of functions used on a daily or weekly basis: Low = 1 function or less; Medium = 2 to 9 functions; High = 10 to 12 functions
Ease of Navigation is Key to a Positive User Experience and to Increasing Utilization Benefits Website Attributes: Plan Sponsor Satisfaction vs. Importance -12 Gap -2 Gap +26 +21 +34
Site Navigation Needs to be More Intuitive for the Less Frequent Users Plan Sponsor Satisfaction With Navigation of Benefits Websites— By Frequency of Use
Theme II Making Plan Administration Easier to Realize Cost Savings
Plan Sponsors Expect Greater Efficiency from Use of Benefits Web Tools Extent to Which Benefits Web Technology Makes Job Easier Ease for Plan Administrators By Company Size
But Time and Cost Savings Have Yet to Be Fully Realized Benefits Website Attributes: Plan Sponsor Satisfaction vs. Importance -39 Gap -32 Gap -29 Gap -29 Gap -26 Gap -24 Gap -22 Gap
Theme III The Future Looks Bright—Coming Soon
The Future Looks Bright—Coming Soon Areas of Greatest Future Growth for Web Benefits Tools Plan Sponsors Employees Point Change +21 +16 +16 +16 +30 +28 +25 +24 +21
Increased Adoption of Benefits Web Technology will Continue in Many Industries Plan Sponsor Willingness to Adopt New Technology—By Industry % of Total Sample 13% 16% 30% 28% 13% 39% 34% 34% 32% 31% 30% 29% 28% 26% 26% 23% 20% 20% 20% 20% 19% 17% 16% 16% 14% 13% 13% 13% 12% 9% 9% 8% 6% 4% 3% AT THE FOREFRONTof technology SOMEWHAT AHEAD of the market in adopting new technologies KEEP PACE with the market in adapting new technologies TEND TO FOLLOW the market and only adopt proven technologies RELY ON LEGACYtechnologies All Employers Heavy Industry Manufacturing Sales/Trade Finance/Ins/Real Estate Services
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