Benefits Administration Software Can Increase the Productivity of Your HR Team
A company’s HR department handles most, if not all, of the working parts of business functions, from confirming employee insurance enrollments to ensuring that accurate payroll sums are processed at the end of each pay period.
Because such payroll processes often require significant staff and labor hours, many business owners have opted to use benefits administration software. Allowing administrative programs to automate some of the tasks involved in benefits management allows the company’s HR department can perform accurate calculations while increasing their productivity.
What is Benefits Administration Software?
A benefits administration software is a program or system that helps the HR department manage employee benefits. Because benefits verification often comes with copious amounts of paperwork, most companies choose a dedicated software program to help automate certain processes. In addition to reducing paperwork production, benefits administration software can verify employee eligibility, benefits enrollment, and additional plan options.
Because these programs are utilized by HR professionals, they are often accompanied by supplemental HR programs that serve as a convenient way to manage HR processes in a single place. While monitoring employee benefits, the HR department can also track employee time cards, schedules, vacation time, and personal days.
With this seamless integration, HR personnel can more easily verify the information and use it to determine the accuracy of benefits accrued. Instead of using several programs for a single function, integrating benefits and payroll systems greatly reduces time spent double-checking calculations.
Benefits Administration Software’s Contribution
Organizing employee benefits information is not the only great feature that benefits administration software has to offer. These programs typically boast many useful tools and third-party integration capabilities that allow HR personnel to complete more work in less time.
Specifically, benefits administration software can also calculate and manage payroll (with benefits premiums factored into the calculations), which will in turn, save HR much precious time. For example, many software programs include automation methods for the majority of HR processes like information transferring, deduction verification, premium reconciliation, and report generation.
Compliance management is another coveted feature that scans through employee information and ensures that state and federal regulations are thoroughly met. Any issues that arise will start an alert so that HR becomes aware of the problem immediately and can thus take the necessary steps to remedy the situation before it becomes a serious problem.
Because benefits administration software tackles so much of the formerly manual processes associated with the HR department’s everyday tasks, employees are able to dedicate more of their workday to completing engaging activities. The software manages all of the tedious tasks with a high degree of accuracy without requiring additional staff to invest in the work.
When allowing computer programs to take on tedious calculations, businesses can direct their staff toward tasks that actually require and benefit from a human approach. Thanks to the fewer mistakes made in benefits calculation and the time made available to staff for creative work and planning, benefits administration software is a win/win investment.