Research shows nearly half (47%) of large U.S. employers outsource FMLA administration due to its complexity and changing state legislation1
Voya Financial, announced that its Employee Benefits business has launched a new Voya Leave Management offering to deliver a fully integrated service to make the process easier for employers to manage paid time off for their workforce, while providing their employees with a high-touch, proactive customer service experience. Voya is actively selling this comprehensive leave management solution, and it will be available to workplace clients and their employees effective Jan. 1, 2021.
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The landscape for U.S. businesses trying to manage paid time off for their workforce is complex. In addition to adhering to their own company leave policies, employers must comply with federal and state provisions — for example, like the Family and Medical Leave Act (FMLA) and the Americans with Disabilities Act (ADA) — as well as constantly monitor pending legislation. For perspective, more than 30 states currently have active Paid Family and Medical Leave (PFML) legislation,2 which has led to large employers increasingly looking for support from outside benefits providers. Industry research1 shows that almost half (47%) of companies with 1,000 or more employees outsource their FMLA administration, which is up from 35% in 2014.
“On average, U.S. businesses are responsible for supporting more than 200 different types of paid leaves and absences.3 This includes managing employee sick and vacation time, as well as providing extended time off from work when an employee has a baby or needs to care for an aging or sick parent,” said Rob Grubka, president, Voya Employee Benefits. “Our new Voya Leave Management offering helps simplify the many administrative responsibilities that employers have in managing multiple forms of leave, while also making the process easier for employees. For employers, it provides fully integrated leave management services for: short- and long-term disability administration; federal, state and company-specific leaves; paid family leave; and administration of ADA leaves. For employees taking a leave of absence, they will work with a single case specialist — from start to finish — to help encourage a high-touch, proactive customer service experience during what may already be a difficult or stressful time.”