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  •  ROI for Online Employee Benefits Portal:

Annual Savings of $300 per employee in HR administrative costs

  • Eliminates 70% of redundant and repetitive tasks in benefits administration
  • Example: 125 employees x $300 = $37,500 annual savings

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Significant savings in HR “process” areas:      

      1) $5.33 annual savings per employee in the costs of Open Enrollment process

            > payback ratio of 3.6 to 1 (366%)

     2) $7.08 annual savings per employee in costs of Benefit Changes and Updates    

            > payback ratio of 8.33 to 1.25 (667%)

     3) 75% savings in the costs of Benefits Communication by eliminating the printing of employee and management manuals and paperwork related to benefits and payroll. 

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Intangible Benefits:

  • Eliminates 70% of redundant and repetitive tasks in benefits administration
  • Significant paperwork reduction
  • Reduced benefits costs due to self-service efficiency
  • Reallocation of HR energies to handle organizational priorities
  • One- time entry of employee data and savings in benefits paperwork
  • Downloadable application and benefit forms off the computer
  • Improved speed and accuracy with vendors and carriers
  • Reduced time – and ease of search – for doctors and providers
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*Source:  Study of Return On Investment on the BisNet Program: Dr. Lawrence Bienati, SPHR, CCP, Lead Management Faculty, Certified Lifetime Senior Professional in Human Resources Certified Compensation Professional, Saint Mary’s College of California.  Note: The BisNet program is an online benefits program which offers similar communications and administration capabilities as the the Employee Benefits Depot module of FBN. BisNet does not offer online financial education modules.

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