Offering benefits to your employees is a great thing but that does not make it stress-free. Every one of your employees is different which makes it difficult to have only one benefit plan for all of them. Think about it…
You have employees who are married with kids, while others are single. Some employees could be veterans, others on the verge of retirement; some may have health problems while others may have a disability. Every one of these people would probably need a benefit plan specific to them.
And this is only taking into consideration your average health and supplemental insurance plans. Oftentimes benefits come in the form of a 401k or IRA savings program that allows your employees to plan for their futures. These have to be properly maintained by calculating deductions, matching contributions and enrolling new hires.
As our society moves in a direction where employees’ occupations become more than just a job, specialty benefits are becoming more and more popular. Your employees often spend more time at work than they do at home, and frequently employers want to make their stay enjoyable to ensure retention. Industry leaders such as Google and Hasbro offer a variety of unusual and extraordinary benefits to remind their employees that they’re appreciated: onsite gyms and daycares, dry cleaning services, allowing pets to come to work, oil changes, etc. Even for companies on a budget, there’s a myriad of benefits you can provide your employees. Local businesses are quite willing to provide coupons for their services in exchange for the advertising to your workforce. A company garden is low cost and provides employees with a chance to take a breather and enjoy the outdoors. Holiday parties are terrific time to express your appreciation of your staff.
Maintaining eligibility for those benefits can be based on incentive programs, hours worked, or a number of other factors. Keeping all those programs straight can be a job unto itself!
Do you have benefit plans for your employees?
What about keeping up with these plans and your employees?
Knowing the changes in your employee’s lives can be a difficult task. Especially when the changes affect the benefits they would receive. Getting the right benefit administration software for your company could solve all of these problems.
For your employees…
Make it easy for your employees to update their marital status, dependents, dependent status, and more.
And for you…
Create a new benefit plan or have the ability to change the details of another. Reduce the time it could take to get in touch with every employee and change their plan.
Having the appropriate tools will help make your benefit enrollment process run smoothly.