Benefitfocus’ Platform Manages Workforce Transition from First Hire to Re-hire
As companies face the growing scale of layoffs, Colleague Transition Services enhance Benefitplace™ total solution for employers
Charleston, S.C. – May 20, 2020 – Benefitfocus, Inc. (NASDAQ: BNFT), a technology platform provider enabling rapid innovation for employers, health plans and consumers, today announces “Colleague Transition Services” as a new core competency in its Benefitplace™ total employer solution. This latest offering enhances the company’s total solution approach, which helps employers eliminate manual tasks and automate end-to-end benefits administration, from onboarding and administration to offboarding and rehiring.
With the growing scale of company layoffs, in some instances affecting tens of thousands of workers at a single company, managing the offboarding process with empathy and maintaining relationships with former employees is critical. This is especially true when the economy improves and companies’ focus shifts to rehiring workers impacted by layoffs. This latest offering by Benefitfocus provides employers with new capabilities to help displaced workers connect to vetted, hot job leads, career support and additional employment resources.
A key component of these transition services is a digital “Colleague for Life” community – an interactive online portal where employers create customized outreach programs to communicate with and support displaced workers. Employers can activate the Colleague for Life portal to preserve a network of talent for contract work or rehiring as business conditions improve. For former employees, they can take advantage of job placement services, job referrals and other career support tools and resources.
“We believe that many employers are purposefully planning for a comeback and they want to maintain a meaningful connection with their former employees. They want to help them through their current career transition and rehire them, if possible, when conditions change,” said Benefitfocus president and CEO Ray August. “As part of our ongoing mission to connect people to the benefits that improve their lives, we’ve created Colleague Transition Services to help employers provide timely and empathetic support to their valued colleagues in their moment of greatest need.”
Colleague for Life community
The Colleague for Life community is designed to curate a variety of content for employers to communicate with and support employees during their time of transition. Examples include:
- Personalized content from the employer, helping keep former employees engaged and aware of company programs and events
- Job search resources, career advocacy information, third-party career and outplacement services
- Trainings and FAQs designed to support employment transition
- Information about benefits and services available through benefitplace.com that are designed to align to the specific needs of displaced workers and families during a career transition.
As part of the Benefitplace total employer solution, the Colleague for Life community is now available to the market. Existing employer customers of Benefitfocus are able to take advantage of it immediately, at no extra cost.
Access for former employees
Former employees can easily access the Colleague for Life community directly through a link provided by their former employer, or via an existing benefitplace.com account. This secure channel will be available to them for as long as needed.
Once logged in to the community, former employees can stay in touch with their former employer and gain support during their time of transition, with counseling, training and job opportunities from their former employer or through third parties. They can also shop for benefits and services via benefitplace.com.
Thanks to the resources provided by their former employers in the portal and those built in to benefitplace.com, transitioning employees can receive important information to aid their benefit decisions, in a similar fashion to the way they were previously informed of their employer-sponsored benefits.
Connect with Benefitfocus
Employer customers can contact their account executive for more information about Colleague Transition Services and the Colleague for Life community.
.To learn more about Benefitplace.com, click here.
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Benefitfocus (NASDAQ: BNFT) unifies the entire U.S. benefits industry on a single technology platform to protect consumers for life. Our powerful cloud-based software, data-driven insights and thoughtfully designed services enable employers, insurance brokers, health plans and suppliers to simplify the complexity of benefits administration and deliver health, wealth, property and lifestyle products through a world-class benefits experience. Learn more at www.benefitfocus.com, LinkedIn and Twitter.
Certain products available on the BENEFITFOCUS BENEFITPLACE™ platform may be regulated through various state agencies as insurance products. Regulated insurance products are offered through brokers affiliated with BenefitStore, Inc. (doing business as 627 Benefits Insurance Agency in California and 627 Insurance Broker Agency in New York), a licensed insurance agency and wholly owned subsidiary of Benefitfocus, or through your, your association’s, or your employer’s appointed broker as applicable.
Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Actual results or performance might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: the need to innovate and provide useful products and services; privacy; security and other risks associated with our business; risks related to changing healthcare and other applicable regulations; the immature and volatile nature of the market for our products and services; our ability to compete effectively; our ability to maintain our culture and recruit and retain qualified personnel; management of growth; and the other risk factors set forth from time to time in our SEC filings, copies of which are available free of charge within the Investor Relations section of the Benefitfocus website at http://investor.benefitfocus.com/sec-filings or upon request from our investor relations department. Benefitfocus assumes no obligation and does not intend to update these forward-looking statements, except as required by law.