Benefits management technology has become a required feature of the HRMS. Regardless of your company size, the options, information and money it takes to implement benefits management technology is a significant undertaking. How can you ensure you are making the right decision in choosing a vendor for your benefits software?
Benefits management and HRMS
Follow these tips in helping to make the best choice in HRMS vendors:
How does your system integrate data?
Benefits data can be spread throughout numerous channels within an organization – from various spreadsheets, other databases and paper files. The HRMS benefit management module must be able to gather all of those pieces of information together, as well as automate it, without the need of manual involvement.
Where is my benefits data being kept?
Benefit data is extremely confidential and security of this data is a major item that needs to be addressed. If the data is stored in the cloud, how secure is it and where is it being held? Regardless of where the data is store, strict security arrangements should be in place. Ask your potential vendor about this and ensure you are very comfortable in the answers they provide.
What does the benefit statement look like?
Is the benefit statement simple to understand and does it contain all of the necessary information to keep your employees informed? Employee buy-in is a critical part of how the system is viewed.
How does the vendor deal with specific policies or rules of your organization?
Every company has its own set of policies and if the vendor is not adaptable, changing the way you handle procedures may not be a good use of your time.
Who owns the data?
An HRMS solution holds personal data about employees such as home address, date of birth, social security numbers and salary information. It’s your data, so you own it. You need to have the ability to transfer your data to another system, should you require it in the future.