Why Your Financial Wellness Program Should be Embedded In Your Ben Admin System

 Did we really just say that you should house your company's financial wellness program within your benefits admin system? Yup! We sure did! It makes complete sense. Hear us out. 

While it might seem like an unlikely match, it's actually a perfect pairing. 

Think about it. 

Benefits are expensive. For you. For your employees. All of us. 

Employees are making their annual elections that impact their pocket book in your ben admin system. They're adding new dependents like kids and spouses, which certainly impact their wallet, in your ben admin system. New employees who have new salaries, new benefits with new new deductions are signing up for their benefits in, you guessed it, your ben admin system. 

All of these moments matter for an employee's personal finances. Having your financial wellness program available and embedded in your benefits admin system supports employees at the times they need it most. 

But it doesn't just end there. Here are all of the ways integrating financial wellness into your ben admin system enhances your benefits package, saves HR time, and creates a better experience for your employees.

1. Easily reach all employees. 
   Your employees are already coming to your ben admin system at the very least, once a year, and in many cases, more. Your ben admin system is always on, available 24/7, 365 days of the year. It's already scaled to easily reach employees, regardless of location or shift. Plus, when you work with a program like BCC's BenXcel and the Pathwise integration we have, you can collect valuable information about what your employees need help with across various generations, pay levels, and more. 
   
   
2. Save your HR team time. 
   Guessing on when to hold trainings, finding a vendor that will support your shift workers, and wrangling sign-up sheets, handouts, and post-training surveys isn't most peoples' definition of fun. And it's time consuming. Get time back to your already over-worked HR team so they can focus on larger strategic initiatives. When financial wellness is embedded in your ben admin system, employees get a more personalized experience while removing work from HR's plate. 
   
   
3. Offer support when it matters most. 
   We already covered some of this above, but by integrating financial wellness into your ben admin system, you can target personal financial training and support in the moments that matter like promotions and life events.
   
   
4. Combine all of your benefits in one place.
   Your ben admin system is obviously the place for your benefits. And financail wellness is one of the most in-demand benefits employees are looking for today. Without it being present on your ben admin system, it's easily overlooked by employees who missed the email or forgot to check the intranet. 
   
   

While this is a time-consuming and tricky undertaking, the good news is that BCC has done the work for you! Recognizing and understanding the above, we took it a step further. We know that not all financial wellness providers are the same. We worked hard to identify and integrate the Pathwise Financial Wellness program into our BenXcel system because they provide more value to our clients.

In addition to the above benefits, with the BCC & Pathwise integration, clients: 

1. Get insights to make smarter decisions. 
   Get aggregate data about your employees' financial health and uncover gaps in current benefit offerings to make better decisions about the tools and support you employees want and need, helping you stay competitive in today's challenging recruiting & retention environment. 
   
   
2. Deliver financial wellness support. 
   There are a lot of good programs on the marketplace today, but we wanted something great. Something robust and complete. Go beyond retirement and offer holistic financial support that includes income planning, investment planning, and more.
   
   
3. Fill in gaps existing benefits packages may have.
   Benefits are meant to be a safety net for your employees when bad things happen. But it's impossible to offer everything under the sun. Pathwise advisors will assist employees in finding and securing a voluntary benefit that your plan doesn't currently offer if it's determined that something additional is significantly valuable to the individual employee. 

BCC's integration with Pathwise Financial means you can offer a robust financial wellness program to your employees at pivotal financial moments in their lives, directly from the BenXcel system. 

Lean more about how to enhance benefits, increase employee engagement with your benefits program, and save your HR team time with BCC's integration with Pathwise Financial Wellness. 

Download this helpful summary with these tips and more! You can share it with your leadership team to help them understand all the reasons why adding Financial Wellness to your company's open enrollment better supports employees.