Employee Retirement Planning Service for Health Provider
By delivering a web-based system for their employees' self-managed
retirement plans, we helped a major health care provider reduce paper-pushing
in their retirement office freeing up the staff to improve customer service.
Analysis
Providence Health & Services, a
west coast health care services provider, wanted to
utilize the web to reduce paperwork for its employees' self-managed retirement plans.
The company wanted a centralized service that would offer educational
information on retirement investing, provide current snapshots of pension plans, and
allow employees to project their portfolios to determine whether they would adequately
cover their financial needs by retirement. The site would need to alert employees to
upcoming retirement planning seminars and provide the retirement office with tools to
manage the service and communicate with employees on retirement and human resources
issues.
Implementation
We built the Providence Health System Road 2 Retirement (R2R) web site to supply
comprehensive information to employees on Providence's retirement options and how to
use them. Our solution gives Providence employees summaries of their current investments
as well as a variety of retirement planning tools and projectors to help them decide how
best to manage their retirement portfolios.
We constructed the web site with the goal of streamlining the work of the Providence
retirement office. Our enhancements included document work-flow management, the ability
to edit content presented to employees on the web site and facilities for communicating
to employees about events, plan changes and other important announcements. Finally, we
automated the data collection and communication with the investment firm to reduce the
overhead of data entry and the chance for human error.
Results
With 34,000 current and nearly 60,000 former employees, Providence's retirement
office workload had become bogged down in paper-work. With the launch of Road 2
Retirement as part of the overall solution, Providence was able to greatly reduce
paper forms for retirement benefits. Now over half of all plan transactions are
conducted via Road 2 Retirement.
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