Benefitfocus

www.benefitfocus.com
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5 people found this helpful  

Better Pay attention to your Customers,....or you will have none

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Former Employee - Anonymous Employee
Former Employee - Anonymous Employee

I worked at Benefitfocus full-time (more than 3 years)

Pros

Dynamic market and space to be in; Cloud software and healthcare. The company has a great marketing/PR engine around their culture and their products which has created a lot of buzz in the marketplace the last couple years. They have also grown very quickly and have accumulated some great "logo" customers.

Cons

They focus so heavily on growth with new sales that they have not been able to keep up with supporting customers. Implementation teams and customer service teams are REALLY struggling. Due to the rapid growth, all the seasoned folks have been promoted and they have hired a lot of young, less experienced people to back fill. Because of the long hours and grinding work, many of these people leave shortly thereafter, or the work completed is sub-par requiring re-work which just perpetuates the cycle of the hole they are digging for themselves.

in a SaaS business you MUST keep the customers that you sell as it's a subscription model. I know many of the new customers that Benefitfocus has signed up in the last year are unhappy. If they don't address this problem quickly I don't believe the company will recover because the "word on the street" will be out. In a SaaS model customers don't become profitable until about years 2-3 and Benefitfocus contracts are only 12 months, so they MUST earn the business every year. At the rate they are going and the amount of competition out there, their renewal rate will begin to decline if they don't "stop the bleeding".

Advice to ManagementAdvice

Focus on your customers and pay attention to the details of executing the business. Growth at any cost is not a strategy that will pay off in the long run when you are operating the company at a loss. Soon that new revenue you are desperately chasing will dry up and you will not have enough happy customers to keep the lights on.

Hire some people with domain expertise (i.e. benefits/health care). Hiring young people right out of college is great to fill the seats and buy into the culture but you are not adding any value to your customers and they are VERY aware of this issue.

Doesn't Recommend
Neutral Outlook
Disapproves of CEO

153 Other Employee Reviews for Benefitfocus (View Most Recent)

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  1.  

    It was 3 years ago and the position was not a good fit for me. All jobs have their pros and cons.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Benefitfocus full-time (more than 3 years)

    Pros

    Open environment at least in terms of the floor plan

    Cons

    The open floor plan was really the only thing "open" about the company.

    Advice to ManagementAdvice

    I noticed a lot of people post it really is who you know there in order to advance and I would have to say I agree with them.

    Recommends
    No opinion of CEO
  2. 2 people found this helpful  

    Only for the kid at heart

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Contractor - Data Analyst in Charleston, SC
    Current Contractor - Data Analyst in Charleston, SC

    I have been working at Benefitfocus as a contractor (less than a year)

    Pros

    Great surroundings, beautiful trails for walking and biking.

    Cons

    Zero professionalism across the organization. Zero processes in place. Little to no communication between teams. Zero respect for seasoned professionals. Lack of hard controls on PHI data. Many associates lack business acumen and could benefit from a training session on it. Unbalanced in a diversified work place

    Advice to ManagementAdvice

    Implement service management before considering going international. Hire seasoned professionals who know how run a business. Review your demographics to ensure a balanced work place when it comes to diversity

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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