With the current competitive job market and rising average cost of living, people are looking for any options available to alleviate their financial well-being. Even though there may not be as many jobs available as there once were, this means that individuals are working harder and becoming more qualified in order to compete. Because of this, companies must be willing to offer perks to employees as added incentive. In fact, 50% of workers cited benefits as a large factor in remaining with their current employer.
In recent years it has become expected for full-time employees to receive some form of benefits package including an array of different services. Even though 99% of all full-time workers have access to medical benefits, paid leave is the most commonly provided perk for employees. Paid leave often includes holidays, which is available to 77% of employees, as well as paid vacation time, a perk also available to 77% of employees.
With so much sensitive information and services, it is important to keep track of all employee benefits. While a human resource team would usually be in charge of overseeing those duties, there have recently been advancements into the field which makes managing employee benefits more efficient and reliable.
Companies have begun implementing employee benefits software to improve their benefits administration system. Previously, entire groups of human resource workers would be assigned to handle the specific benefits offered to employees such as medical or paid time off. Now, the need for human workers has been minimized in favor of using human resources software solutions.
Employee benefits software not only makes operations easier for the company and the human resource department, but employees will be able to access their benefits information through new mobile human resource software.
Between saving money on paying wages for large human resource teams, and offering workers unique perks, the implementation of employee benefits software could be a huge improvement to your company.