Benefits management is a core HR function and if your HR team, whether internal or external resources, aren’t cutting it, this can be a huge de-motivator for employees. Employees don’t generally get super enthusiastic and motivated if benefits are managed well, but they will notice and become demotivated if they are managed badly.
What’s the solution? Given that the majority of organizations have some form of benefits automation, having the best possible HRMS benefits module offers the following advantages:
Timely and Quality Communication
For benefits Open Enrollment and management, informing your employee of their choices and options is critical. While this is still mainly done via email and face-to-face presentations, integrated social HRMS is being used more often. Employees are looking for communication, such as podcasts, web-based videos and online chat rooms and forums. Not only does HRMS benefit management offer more interactive communications with employees, it leads to better-informed decisions.
Generation X, Y, Z & Beyond
For the first time in employment history, we’re seeing up to four generations in the workplace, each with varying values, drivers and demands when it comes to their careers and rewards packages. As the variety of benefits expands, more sophisticated and flexible solutions within modern HRMS software are needed to manage them.
Employee Engagement and Self-Service
A key factor in engagement levels is whether the employee feels appropriately rewarded for their work. During a period when pure salary increases appear to be a thing of the past, it’s important that HR departments understand how their benefits contribute to their total rewards package. Modern HRMS benefits modules, such as the Arcoro system, provides toward rewards statements’ anywhere, anytime via the employee self-service functionality. The capability to not only access this important data, but to do so at the employee’s convenience is becoming an important expectation
A good HRMS benefit module will help ensure your organization’s compliance. From COBRA to HIPPA to FMLA, having your software do the heavy lifting on these requirements makes perfect sense.
Benefits management is a complex business with both employees and the government demanding that it gets done right the first time.