Managing Employee Benefits in the Face of Technological Change

Confero Fall 2017

Michelle Capezza, a Member of the Firm in the Employee Benefits and Health Care and Life Sciences practices, in the firm’s New York office, authored an article in Confero, titled “Managing Employee Benefits in the Face of Technological Change.”

Following is an excerpt (see below to download the full version in PDF format):

There are many employee benefits challenges facing employers today, from determining the scope and scale of traditional benefits programs to offer that will attract, motivate and retain multigenerational employees, to embracing new models for defining and providing benefits, while simultaneously managing costs. In the midst of these challenges is the wave of technological change that is impacting all areas of the workplace, including human resources and benefits. In recent years, many new technological tools have emerged to aid in the administration of benefit plans, delivery of participation communications, as well as provide education and advice. These tools often require collection of sensitive data or allow employees to provide personal information in an interactive environment, such as:

  • Benefits, HR and payroll software, and plan recordkeeping, systems
  • Online and mobile applications for benefits enrollment and benefits selection assistance
  • Social media tools and applications for benefits information and education
  • Online investment allocation tools, robo advisors, financial platforms
  • Telehealth and wellness programs

These and other advancements are a sign of the times. While they appeal to employees, reduce burdens on employers, and assist in driving down program costs, organizations must be mindful that cyberattacks on benefit plans and participant information have occurred and measures should be taken to protect against such data breaches.

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