Benefits September 12, 2000

Web Delivers for HR, Employees

September 11, 2000 (PLANSPONSOR.com) - A new Towers Perrin study finds that the implementation of HR transactions of the Web has increased two- to threefold in the past year.
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Towers Perrin’s annual HR Service Center Survey noted that last year only 10% of respondents provided annual benefit enrollment on the Web, but in 2000, that number jumped to 39%.

Similarly, 12% of companies allowed employees to track their 401(k) plans and make changes on-line last year, compared with 35% this year.

Faster, More Accurate

Among employers that allowed employees to make family status changes via the Web, 100% reported improved timeliness, half said it reduced HR workload and 38% noted improved accuracy.

Today, the most prevalent HR web transactions are:

  • 39% – annual benefit enrollment
  • 31% – personal data changes
  • 35% – 401(k) changes
  • 19% – new hire benefit enrollment

Annual benefit enrollment and personal data changes are considered likely additions for this year.

Employees are most likely to find job postings (86%) on the HR Web, with HR/benefit plans and policies a close second at 83%. Sixty-five percent can find 401(k) data online.

Looking Ahead

New transactions targeted for 2001 include:

  • family status changes
  • new hire benefit enrollment
  • employment events.

The Towers Perrin HR Service Center Survey is based on Web and mail-in responses from HR executives representing 92 companies, most in the Fortune 500 companies.

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