benefits

myKlovr: A Short Primer for Benefits Brokers

By Thomas Broderick

As a benefits broker, you give one or more clients expert advice on how to provide the best benefits at a cost affordable to employees, answer employers and employees’ questions, and stay up to date with the latest laws and regulations. As a result, you need to keep on top of the rapidly evolving benefits landscape to succeed at your job.

In this brief article, we at myKlovr want to introduce you to our employee and member benefit, one that appeals to mid-career professionals with middle and high school-aged children. We feel confident that by the time you finish reading, you will recognize myKlovr’s value and want to offer it to your clients.

What Is myKlovr?

MyKlovr answers a question many high school students have: ‘How do I get into my dream college?’ Unfortunately, high schools across the country lack proper college counseling resources, and the best private college admissions counselors charge as much as some lawyers. Many families go into the process blind, and without help, prospective college students cannot attend the right school.

To help families in need, myKlovr developed a first-of-its-kind virtual college admissions counseling service that combines seven key functions:

  • A student portfolio where users can curate their best academic and extracurricular work
  • Personalized goal recommendations (e.g., improve a grade, join a club) that align to the user’s top college picks
    • Users can modify these recommendations, also known as an action plan, at any time
  • A progress dashboard that visualizes users’ accomplishments
  • An advanced college finder with multiple filters
  • A support network wherein users can invite trusted adults (e.g., teachers, parents) to offer advice, keep up to date with progress, and confirm milestones
  • Specialized courses that teach users how to create college-friendly social media accounts
  • Financial education modules that provide valuable information on how to pay and save for college

Users receive all of these services the moment they sign up for myKlovr. Once they input personal and academic information, they can begin improving their chances of college admissions success.

How Does Offering myKlovr Differ From Other Benefits?

You’ve likely come across dozens of voluntary benefits that appeal not only to employees but also their families (e.g., public transportation passes, discounts on entertainment, gym memberships, etc.). myKlovr stands apart in one crucial aspect – cost.

Our low cost not only attracts new users but can help your clients, as well. Unlike with other, more expensive traditional and voluntary benefits, your clients can offer myKlovr at any time of year. Without the need for an open enrollment period, new employees in our target demographic can sign up on their first day of work. Your clients can use this fact to their advantage as they try to recruit the best talent.

Final Thoughts

Please visit our website to learn more about myKlovr and how it helps students and their families. Also, feel free to contact us if you have questions or would like to start offering myKlovr to your clients.

We look forward to working with you.

How myKlovr Can Integrate With Your Company’s HRMS

When we developed myKlovr, a first-of-its-kind virtual college counseling service, we knew we wanted to have companies offer it as part of their benefits package. To help companies integrate myKlovr into their Human Resource Management System (HRMS), we developed different methods applicable to your systems.

In the following paragraphs, you can learn more about our integration goals and the ways you can make myKlovr part of your HRMS. If you have questions after reading this article, feel free to reach out.

Integration Goals

No matter how you integrate myKlovr into your HRMS, we want to make sure the process is a successful one that achieves the following:

  • Employees can view their myKlovr benefits on your company’s benefits portal.
    • Employees can use this same portal to cancel myKlovr or view their billing history.
  • Signing up for myKlovr creates an account for an enrollee’s child or beneficiary (e.g., grandchild, nephew, etc.) automatically.
  • If an enrollee cancels myKlovr, the child/beneficiary has the option to continue using myKlovr at the standard per month rate.
  • Your company’s HR staff can update multiple employees’ enrollment status simultaneously.

Once you decide that myKlovr would be an excellent employee benefit for your employees, we will first determine pricing and set up service levels. When we finish the prep work, we can help you decide how to integrate myKlovr into your HRMS.

How to Integrate

To make sure that your company can meet its integration goals, we offer seamless methods you can use for your HRMS. The following sections provide a non-technical explanation based on technical documents myKlovr developed. We would be happy to share these documents with your HRMS professionals during the integration phase.

API-Based

An application program interface (API) allows your company to create a custom interface that HR professionals and employees use to manage the myKlovr benefit. Although your company would have more control over this system, API requires that your HR professionals have a high level of technical expertise.

Flat File Transfer

Flat file transfer provides companies the freedom to decide when to update enrollees’ information, a boon for companies who allow employees to sign up for myKlovr at any time.

If you prefer to use flat file transfer when updating enrollees’ information, we have prepared a simple six-step process that involves minimal work on your end and near-instantaneous confirmation concerning any requested changes. Also, we take care of the job of informing your employees about the latest modifications to their myKlovr benefits.

We have a host of resources that make this process as easy as possible. As a result, even HR professionals not formally trained in flat file transfer should be able to implement it successfully.

Final Thoughts

Even after integration, we at myKlovr want to make sure that your company’s HR professionals can manage enrollee information in a timely, accurate, and, most importantly, secure manner. As a result, we not only want to help you integrate myKlovr but also forge a productive and long-term business relationship.

We look forward to responding to your comments and inquiries.

Understanding Millennial Employees’ Benefits Needs

By Thomas Broderick

In 2019, millennials became the largest living generation in the United States. Their ages range from 19 to 37, and overall, they possess many liberal economic and social views. On the job, they want to apply their talents toward producing meaningful work.

Economically, most millennials lag behind the previous two generations (e.g., generation X and baby boomers) due to the “Great Recession” that began in late 2007. This two-year recession and the long recovery stunted many millennials’ career opportunities and salary potential. The recession’s lingering effects have a continued impact on millennials’ earning power.

When considering these challenges under a benefits microscope, two words come to mind: stability and opportunity.

In this article, we’ll explore both traditional and voluntary benefits that appeal to millennials. We’ll also consider how millennials’ benefits needs might change in the coming years.

What Young Families Want

Although millennials differ from other generations, they still value traditional benefits packages. Millennial employees are marrying and starting families, meaning that they put a priority on careers that offer good medical and life insurance policies. Both provide young families – many of which are still adjusting to new financial realities – the knowledge that sickness or death will not cripple them financially.

Yes, millennials greatly appreciate traditional benefits, but their generation also values their families’ well-being over all else, including their employers or careers. This desire to provide their spouses and children with the best quality of life makes it easier for millennials to switch companies if they can attain a better benefits package.

For this reason, companies are offering voluntary benefits to attract and retain employees. Let’s look at some of the voluntary benefits that align with millennial employees’ short- and long-term needs.

The Best Voluntary Benefits for Millennials

Millennials, whether they have families or not, generally want a voluntary benefits package that boasts flexibility, encourages peace of mind, includes their family, and promotes personal fulfillment outside the office.

  • Gym Memberships: Gym memberships represent an excellent supplement to a traditional health insurance policy. Exercise not only improves health, but many people report that it also affects mental well-being. Also, as gym memberships can extend to family members, healthy spouses and children translate into happier employees who can focus on their work better.
  • Financial Literacy: Financial literacy resources can include courses at your job site, apps, and other online tools. If your company adopts financial literacy courses as a voluntary benefit, choose a service that emphasizes 529 plans (i.e., college-savings plans), retirement savings, and student loan repayment strategies. These services best match millennials’ most pressing needs.
  • Additional Paid Time Off: In recent years, companies have used unlimited PTO as a way to attract highly-trained professionals. With more time off, employees can spend more time with their families and feel higher loyalty toward their employers.  Even if your company does not offer employees additional vacation days, ensure that employees feel safe in taking time off.
  • myKlovr Virtual College Counseling: MyKlovr has developed a first-of-its-kind virtual counseling service to assist high school students and their families navigate college admissions. Students receive personalized advice that helps them improve their chances of college admissions success.

Looking to the Future

Although millennials’ children will not enter high school for a few years,  the myKlovr employee benefit can be extended to siblings or even nieces and nephews who are in need of specialized tools to help them gain admission to a good college or university. We at myKlovr also believe that this benefit can be extended to workers who may have taken time-off from studying after high school,  and are currently employed but enroll in college.

Our program works by asking students a series of questions concerning their academic achievement, extracurricular activities, and college preferences. MyKlovr turns this information into success goals that students can achieve throughout high school. If students meet these goals, they can obtain letters of admission from the colleges and universities that myKlovr recommends. We call these recommendations a College Match. In fact, if none of a student’s College Match schools admit the student, we gladly refund the entire subscription fee (terms and conditions apply). That’s how confident we are in myKlovr’s ability to help high school students attend college.

Final Thoughts

Whether through fitness incentives, financial literacy courses, PTO, or myKlovr, your company can attract and retain millennial employees by offering voluntary benefits that match their evolving needs.

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