5 Ways to Streamline HR Processes with Benefits Administration
August 30, 2022
Most HR departments handle recruitment, workplace safety, employee relations, labor law compliance and payroll, amongst other things. When it comes time to add-on managing benefits, especially for smaller companies with limited resources, an additional challenge is created. Monitoring benefit eligibility for employees is complex and requires accurate and timely tracking of hours worked, plan policies and much more. This can become an overwhelming process each year for businesses to disburse information and compile it all within a short time, especially as employee numbers grow. With open enrollment around the corner, DM Payroll Solutions shares five perks of leveraging benefits administration software within your business.
1. Limits Open Enrollment Efforts
An online self-service site frees up HR staff to focus more on strategic initiatives while keeping the open enrollment process up and running smoothly in the background. It also allows for administrators to easily monitor employees’ enrollment statuses and deadlines.
2. Simplifies Personnel Files
With online access to employees’ information regarding their benefits, contributions, etc., you can eliminate having to print and manually file their selections.
3. Makes Onboarding Easier
Sending a quick welcome email to new hires with a link to “all-things” benefits for them to complete online is not only easier, but also sets a good first impression, indicating the company is up-to-date with technology.
4. Improves Accuracy
Human data-entry errors can cause big problems when it comes to benefits. Mistakes on the part of a benefits administrator, whether it be a finger misstep or interpretation error, can result in employees being enrolled in the wrong health plan or not enrolled in a plan at all, creating a logistical mess for all involved. Using an online system allows the employee to enter their data, but provides your HR department an opportunity to cross-check the information for accuracy.
5. Monitors Compliance and Eligibility
There are minimum standards that must be met when offering certain benefits, such as COBRA, the Affordable Care Act and ERISA, which can be challenging to stay up-to-date on. Software can assist in monitoring employee eligibility triggers and help comply with the many regulations and reporting requirements.
How We Can Help
DM Payroll Solutions offers access to end-to-end solutions that help organizations just like yours manage benefits administration with an online portal. Automatic workflows transfer demographic information, payroll deductions and compensation adjustments between DM Payroll Solutions and benefit management systems, streamlining the process for businesses. To learn more about our benefits administration feature, contact us today.