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Operational & Organizational Assessments
Looking for a way to make your benefits administration more efficient and cost-effective? Segal can help.
We regularly assist multiemployer organizations in assessing the administration of their benefit programs. As part of these assessments, we analyze and evaluate strategic issues, administrative functions and supporting technology to identify key areas where efficiency and effectiveness can be improved.
How can you tell if your administrative office would benefit from an operational review?
- Service issues, such as participant inquiries going unanswered, inconsistencies in responses to questions, or backlogs in processing
- Organizational issues, such as high staff turnover, a new administrator, key employees reaching retirement age, lack of accountability, unclear or undefined roles and responsibilities, inadequate staffing, or lack of cross training
- Financial and regulatory concerns, such as increasing administrative costs, compliance issues, or inadequate internal controls or policies and procedures.
Our operational assessments address the following key areas:
- Operational: The operation of administrative tasks and functions and the efficiency of those efforts
- Organizational: How the office is organized to achieve its mission, tasks and benefits delivery and service goals
- Technology: How well the current level of technology supports the effective delivery of benefits and member service
Our consultants are well versed in the functional, technical, transactional, and organizational aspects of benefits administration. Through our assessment process, we obtain a through understanding of your work processes, identifying problem areas and recommending short and long term solutions to address these issues.
As part of this process we will review all aspects of your organization including work processes, staffing, compensation, job descriptions, roles and responsibilities, organization and reporting structures, policies and procedures, performance management, staff training and development, benchmarking, compliance with legislative and regulatory mandates, technology tools, software, hardware, infrastructure, and technology support and maintenance.
Segal has worked with multiemployer funds, public sector entities, unions, VEBAs, training funds and TPAs to assist them with operational and organizational assessments. While we can review your entire organization, we can also focus on one functional area. Some of these areas may include:
- Member Services/Call Center
- Contribution Accounting Processing
- Pension, Annuity/401k Administration
- Health and Welfare Administration
- Dues Administration
- Information Technology