Is it time for your business to use a benefits administration software?

Woman computing in her calculatorOne obvious advantage of a benefits administration software is that a months-long enrollment process under paper-based applications can be shortened in a few weeks.

Under automated HR systems, core HR tasks like tracking employee information, processing pay, keeping records, and computing for tax and workers’ payments are seamlessly integrated into one database with instant accessibility and an easy-to-manage interface.

But for an organization, big or small, there is a better time to engage in full automation. A decision to invest in a modern system for specific HR tasks requires careful assessment.

Number of employees

Staying traditional remains potent as long as there are only a few hundred employees to track and serve. But if the business is booming and more activities are needing more headcount, it is time to venture into full automation.

Use of multiple databases

Is your business using only a couple of databases to input information? Or is it tirelessly clogged into several databases each having a single task to accommodate? Getting employee benefits information from several databases is not allocatively efficient. You risk running costs that are both capital-intensive and labor-intensive.

Growth of HR processes

If your HR department is now engaged in tasks like event management (from enrollment to retirement), paid-time-off (PTO) management (paid leaves), compliance management (medical, financial, labor compliance), and investment and retirement management (planning investment options), it means HR processes has ballooned, and such tasks must be placed into a single system.

Complexity of benefits program

When benefits programs are as complex as a growing HR department, it is high time to go automated. A business’ benefits program normally demands a high level of the transaction between the HR department and the employees, creating a serious workload bottleneck that needs to be resolved quickly.

For benefits administration that is gaining full-feature growth, a full-feature solution is the best answer. To check if your organization is ready to automate its benefits administration, assessing the above considerations is elementary.