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 technology that HR uses includes all employee records. The payroll information is often contained in this database. It will also include information on what provider and plan the workers are signed up for health care. To get everything on the same page, they need to combine the information into a single system without losing important data.
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.
For this integration to be successful, a benefits review needs to happen. Both insurance companies will send representatives and work with the HR staff in coming up with a better deal that includes the larger set of workers. This may take months to accomplish since everything from the benefits offered to the cost the company or employees will have to pay may change from the previous plans.
Keeping employees happy and involved is critical to success. Conducting a survey is a great way to get input from the workers from both companies to find out what they liked and disliked about their plans. This will give HR an idea of what the most important aspects are and help them create a new plan that will keep most people happy and with the company. Being able to participate is a sure way to give employees value in the process.
Filling out forms is not easy. The HR staff should be trained by the insurance company to be able to adequately walk workers through filling out the forms and answering questions about the options. If the staff can't answer the question, they should have a point of contact to get an answer quickly. The employees are faced with difficult decisions on what options to choose since this may affect how much they have to contribute towards the plan.
After the new plan is in place, do another survey. This is a time where you can find out if your efforts paid off. Do not expect everyone to be completely happy, but expect satisfaction in most areas. You will also want to get information on how difficult the workers found the process and if they feel their input was valued.
It is not easy combining two companies into one. The process can be difficult and time-consuming. Taking the time to evaluate the benefits and options is important. Including the employees in the process can stifle future discord since their suggestions are included in the final plan.
The technology that HR uses includes all employee records. The payroll information is often contained in this database. It will also include information on what provider and plan the workers are signed up for health care. To get everything on the same page, they need to combine the information into a single system without losing important data.
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.
For this integration to be successful, a benefits review needs to happen. Both insurance companies will send representatives and work with the HR staff in coming up with a better deal that includes the larger set of workers. This may take months to accomplish since everything from the benefits offered to the cost the company or employees will have to pay may change from the previous plans.
Keeping employees happy and involved is critical to success. Conducting a survey is a great way to get input from the workers from both companies to find out what they liked and disliked about their plans. This will give HR an idea of what the most important aspects are and help them create a new plan that will keep most people happy and with the company. Being able to participate is a sure way to give employees value in the process.
Filling out forms is not easy. The HR staff should be trained by the insurance company to be able to adequately walk workers through filling out the forms and answering questions about the options. If the staff can't answer the question, they should have a point of contact to get an answer quickly. The employees are faced with difficult decisions on what options to choose since this may affect how much they have to contribute towards the plan.
After the new plan is in place, do another survey. This is a time where you can find out if your efforts paid off. Do not expect everyone to be completely happy, but expect satisfaction in most areas. You will also want to get information on how difficult the workers found the process and if they feel their input was valued.
It is not easy combining two companies into one. The process can be difficult and time-consuming. Taking the time to evaluate the benefits and options is important. Including the employees in the process can stifle future discord since their suggestions are included in the final plan.
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