There are many ways the employee benefit software can help your company. You can save money, improve productivity, and provide a service that will bring you more customers. These software packages allow your employees to do their job in the office, while still doing what they have been trained to do. A major benefit of this software is that your business will be doing all the work for you.
As an employee benefit software provider, you need to establish a relationship with your human resource manager. It is a win-win situation for you, as both parties benefit from the collaboration. This type of partnership can work both ways.
First, it is important for your payroll department to provide payroll software, so they can process payroll tax and prepare taxes. Once you have established a good working relationship with your payroll manager, it can help you with your business strategy to increase your sales and improve your financial outlook.
If you know that your HR professional is not taking care of your benefits, you may want to provide this task for them. The benefits you are paying for can only help you in the long run. Provide the software to everyone to make sure your financial experts get it done. The employee benefit software will help improve productivity, reduce fraud, and reduce administrative headaches.
When you have employee benefit software in place, you can give everyone in your company the benefits they are looking for, as well as getting better access to benefits and paying less. Your business will end up making more money, with a stronger and more efficient payroll department.
The Major benefits of the Employee Benefit Software
- Benefits Record Management
- Online Benefits Enrollment
- Third-Party Carrier Integration
- Document Management
- Total Compensation Statements
- Employee Self-Service Benefits Portal
- Affordable Care Act reporting
- Benefits Dashboards
- Mobile Benefits Access
- Integrations / APIs
Another major benefit to having employee benefit software is increased customer satisfaction. When an employee has a piece of software to take care of his or her benefits, they are more likely to buy other things from your company. When they buy from your company, you receive more sales and greater income.
One of the best things about HR management software is that your employees are automatically included. Employees see and use the system each day. In fact, they are on your payroll as well.
The downside to having employee benefit software is that it can cost a lot of money. HR managers have to work hard to find ways to maintain and improve their businesses. HR managers can find it difficult to take large savings and not have a major impact on their payroll budget.
Another problem with these types of software is that the employee is forced to pay an extra tax. The amount of money the employee pays can increase dramatically over time. The goal is to keep this information confidential, but oftentimes employees will find out how much they are saving.
Lists of some top Employee Benefit Software
- Obeo Health
- PlanSource OneMarket
- PlanSource BenefitsOne
- TeemWurk Ben Admin
- Zywave HRconnection
- Paypro Workforce Management
- WEX Health
- My Benefit Express
- GoExchange for Employers
- Benelogic Evolve
- BenefitMall allCompliance
- Empyrean Platform
- BenefitMall EmployerFocus
- Connecture Private Exchange
- Virtual Benefits Administrator
- hCentive WebInsure Benefits
- eBenefits Solutions
- Benefex RewardHub
- WORKTERRA BenAdmin
- Zest Health
- Sagitec Neospin Fast Track
- Conduent Workers Compensation Services
- Castlight Health
- CORE Platform
- PlanAdvisor. And much more
For some companies, employee benefit software can be integrated into their company budget. The HR manager can set the costs of the software and receive automatic updates. This will help manage costs in the long run.
Your HR department should start a formal relationship with your employee benefit software vendor. Once you can provide them with the tools and services they need, your HR manager can receive more assistance and help them build their own benefit software.
HR management can be a very demanding job. Providing employees with software to help them work more efficiently, and lower their costs, can work for both you and your company. The employee benefit software you use should be designed to help your company achieve the goals you have set.