Did you know that less than half of employees (49%) are satisfied with their current benefits package and how those benefits are administered?
Generally speaking, employees are dissatisfied not just with their benefits but also with the enrollment and administration process. According to recent data, approximately three out of four participants encounter some form of communication issue.
However, as you are probably well aware, benefits administration is likely a pain point for your HR staff, as well. Fortunately, you can alleviate these challenges by adopting a unified payroll and ben admin solution.
What Are Ben Admin/Payroll Integrations?
Ben admin and payroll integrations are precisely what they sound like. These integrated technologies facilitate streamlined communication between your benefits platform and payrolling software.
This integration means your HR staff will no longer have to spend countless hours manually updating benefits deductions in payrolling software. Instead, when benefits changes are made, these updates will automatically be synced with payrolling data.
Pain Points These Technologies Address
Ben admin and payrolling integrations resolve several different pain points, including:
Excessive Ben Admin Costs
When businesses address ben admin and payroll separately, inefficiency abounds. These inefficiencies can negatively impact businesses of all sizes, but they are particularly detrimental to small companies.
HR spending per employee varies greatly based on a variety of factors. However, even the most efficient businesses are spending approximately $1,350 per employee on HR functions. Some companies are spending closer to $3,800 per employee.
If you want your benefits administration and payroll processes to be simple, Simpay is the right partner for your business. At Simpay, we simplify payroll and benefits administration with our all-in-one solution when you’re seeking a solution that is a one-stop shop for all your HR and payrolling needs.
Ben Admin-Related Employee Morale Issues
When businesses are not efficiently and accurately updating payroll to reflect benefits deductions, employee morale can suffer.
If employees do not understand what benefits the employer is providing, they may believe that their company is selling them short. This perception is especially concerning since benefits are closely tied to employee morale and satisfaction.
Ben admin integrations can improve benefits transparency. Employees can see exactly what they and the companies they work for contribute to benefits plans. This transparency can lead to better morale and higher job satisfaction.
Talent Shortages
Without ben admin/payroll integration technologies, employers must address benefits administration challenges the old-fashioned way by hiring more HR staff. However, there are several issues with this type of approach.
First, bringing in more staff can make the HR department bloated and cut the company’s profits. Second, there is an HR talent shortage, according to Gartner. This reality means that companies will have a tough time sourcing HR talent, even if they have the budget.
Payroll integration is one of the best steps you can take for your business as you improve your operations and keep your HR team happy. With the right technology, you can reduce the risk of errors, have a comprehensive look at your business, and eliminate manual-entry errors.
