Employee benefits software

Advancement in technology has streamlined almost every aspect of managing a business. One area of a business clearly impacted by the modern age is Human Resources. Nearly every responsibility in the Human Resource department is at least partially managed through HR software now. Payroll administration can now be completed with the click of a button rather than a human completing the arduous process of calculating hours and salaries and appropriate deductions. Employee benefits are organized and managed through a convenient web-portal. Employees can compare health insurance options and make changes online without needing HR personnel to oversee it.

Developments in Human Resources software solutions increase productivity, reduce opportunities for human error, and collect a wealth of data that create reports for better business decision making. In fact, Human Resource software has made HR management so efficient that Forbes magazine reports 57% of companies are planning to make a major HR software purchase within the next 18 months. There are many features that a company looks for in an HR system, however HR software that offer the following 5 features make it worth the investment:

  1. Consolidated features. In the early days of HR management software, companies had to use separate platforms for Human Resource benefits administration, employee onboarding software, group health plans management, and payroll. These systems weren’t able to communicate, required multiple data entry points, increased room for error and were cumbersome to navigate. Newer systems consolidate all of the functions of the HR department in one comprehensive system.
  2. Accessibility. The adoption of online HR software moves the vital HR information from a computer in an HR office to the cloud, so that it can be accessed through a secure portal from anywhere. Mobile Human Resources software allows companies with multiple locations to manage their HR cohesiviely, and gives employees access to their own benefits information from home, while they’re traveling, or outside of the office.
  3. Self-Service. Business analysis shows that a single HR employee spends 40% of their time working on Human Resource benefits administration. The self-service feature of many new HR software systems enable employees to access their own benefits information through a secure web portal. Through this, they are able to make changes themselves without needing an HR employee to do it for them. The automation of Human Resource processes save companies the labor costs for administration in the HR department.
  4. Reporting. Having all the Human Resource benefits administration information stored in a single database makes it possible for streamlined reporting and metrics. Having a wide-range of reporting metrics available at the click of a button helps a company make crucial business decisions with the most up-to-date, accurate information in mind.
  5. Ease-of-use. The sleek interface in newer HR software makes it simple for any part of the company to use, from management to field workers. This really optimizes return the on investment in an HR software purchase.
  6. Has your company recently acquired new HR software? What features were important to you? What do you find the greatest benefit has been from your software? Please leave us a comment with the details!