Benefits enrollment for your company’s employees can be one of the most complex and time-consuming tasks for your HR team. This is particularly true for small and mid-sized companies, where staff can end up spending a large proportion of their time on the process. A great solution that can help to make it easier is moving to an online HR software system that seamlessly integrates employee benefits. Many companies enable you to tailor a package to suit your business’s specific needs so that you can get the most out of it. Here’s what you need to know.
How does it work and what are the advantages?
The way that your HR system can help with employee benefits is actually relatively simple. It will be able to cover all manner of benefits, from medical, dental and vision, to commuter and supplemental benefits. Check with a few different companies for a specific list of what they can offer you. Many will give you the choice between using your own broker or going with one of their certified partners, who will know how to navigate the software. They can help you to find plans that you might not be able to locate on your own, with specific advice for the state or region that your company is based in.
Employees, whether new staff or existing ones, can often enrol themselves directly from the platform. This helps them to be more educated about what their options are and choose the best one for them. As an added bonus, these online tools can save your HR staff a huge amount of time too. The result is that the department can function more effectively and focus on more valuable tasks instead.
Many modern HR software systems also provide mobile access through a dedicated app. This enables employees to check balances, plans and claims on the move, as well as providing connectivity with other apps where relevant. Another advantage of a purely digital benefits platform is eliminating paperwork. This is good for the environment and reduces the chance of errors.
In addition to being helpful for the company, an online employee benefits system can be great for your staff too. By reducing confusion around benefits, employees can feel more engaged and positive. This in turn leads to increased productivity.
Finally, using this kind of software can help ensure that you remain compliant with legislation such as the Affordable Care Act. Many systems will offer you specific guidance for your business type, set custom reminders that you can sync to your calendar and provide resources to help you stay on top of key federal compliance deadlines.
To get started, contact a few different companies to find out what they can offer you and to request a free demo trial. This will help you to get a feel for their platforms and whether they will work well for you. Most require little specialist training to use, meaning you can get up and running almost immediately. It will be no time at all until you’re reaping the rewards of your new system!