Employee benefits are an important part of the compensation package that employers offer to their workers. Efficient management of benefits and of human resources in general is an important factor in employee loyalty and retention. New human resources software solutions transform the way small and medium businesses manage employee benefits, hiring and all human resources tasks. Mobile hr software in particular not only simplifies human resources procedures, it also makes them accessible to managers and owners no matter where they are. A better world of employee relations is literally at your fingertips.
Better employee benefits ensure loyalty
For businesses that employ more than 50 people full time, various state and federal laws come into effect, requiring them to offer health insurance benefits to all employees, even those who are not full-time workers. Many employers do this by offering group health plans for employees. Nearly all, or 99%, of all full time workers have medical benefits through group health insurance plans.
Other employee benefits include paid sick leave, which is available to 98% of all full time workers. Paid holidays are available to 77% of full time employees. The overall benefits package is an important part of employee compensation, and as many as 50% of all employees say that they stay with their present employer because of the benefits.
How can human resources software help your business?
Given the importance of the overall package, a streamlined benefits administration system is essential for good employee relations. Human resources software brings together all human resources functions – payroll, benefits, compliance, hiring – into one integrated online system. With mobile hr software, this information can be accessed from anywhere via a phone or tablet.
With the new integrated online human resources management software, companies can replace the three or four cumbersome system they have been using in the past with one easy to use dashboard. For small business owners and managers, mobile hr software gives them undreamt-of flexibility and mobility. In a small business, each person typically wears several hats. With less time spent on payroll, benefits and compliance, it frees up staff for important tasks.
Efficient benefits management contributes to job satisfaction
At the present time, research shows that only 13% of organizations have a single hr system. Most companies is have three or four different systems, with separate ones for recruiting, benefits, employee informations etc. However, most companies are also planning to upgrade their hr software, and 57% have plans to purchase new HR software within the next year and a half.
The new generation of human resources software solutions cover everything from hiring and onboarding to storing employee records and monitoring compliance with all relevant laws. Compared to the old spreadsheets and databases, this is truly smart human resources management. Given the importance of employee benefits in ensuring job satisfaction and loyalty, hr software makes a major contribution to the company culture.