Create the perfect benefits package that delivers value for your business and your employees
- In a tight hiring market, every employer is looking for ways to attract top talent.
- Employee benefits programs are incredibly enticing to any job seeker and essential to giving yourself an edge when it comes to attracting talent to your organization and retaining employees.
- From an employee perspective, a job is worth more than an hourly wage – healthcare is a vital component. Having the right benefits package can make all the difference.
- A valuable benefits package can help to differentiate your company from the competition and attract top-level talent to your organization when combined with a competitive salary offer.
What Kinds of Services fit your business?
- Consider whether you want to provide medical, dental, and/or vision. Determine what offerings will be most appreciated by your employees and use their feedback as a voice of reason in your decision-making process.
- Does your business deal with any complexities that require specialized expertise like Workers Compensation? Understanding your needs is essential for putting together a benefits package that makes sense for your business.
- Taking advantage of tax efficient products like flexible spending accounts enable employees to better afford a third party plan.
- Get more creative with non-traditional benefits like volunteering initiatives, mentorship programs, tuition reimbursement and more.
Streamlining Your Benefits Administration Services
- With online benefit administration solutions, such as our “Pay-As-You-Go” plan, your company only pays what real-time payroll numbers require, freeing up cash reserves.
- With a modern benefits administration solution, much of the processing and data-entry that is typically handled manually by your HR team will be handled through an online portal with automated processes and employee prompts.
Common Issues Organizations Face With Employee Benefits Administration
- Struggling with time consuming healthcare compliance issues. Having a full understanding of compliance and the steps needed to mitigate healthcare compliance risks is essential.
- Companies are sometimes forced into plans that are oversized, or provide benefits employees do not use. Understanding what packages to invest in is a big component, but it’s just as important to create systems that encourage your employees to make the most informed choices possible.
- Workers Comp insurance policies tie up valuable cash reserves by requiring companies to pay in advance.
- Improve time management for your HR teams. With a modern employee benefits administrative system, employees can compare plans side by side online and select the right plan for them without having to go through mounds of paperwork or bombard HR with multiple inquiries. Your HR teams will have more time to focus on other core areas of the business.
- Data security is a primary concern. HR databases are prime targets for hackers. Ensuring that you have a system that keeps your employee and benefit data safe is crucial for mitigating risk.
Selecting the Right Benefits Administration Solution
- Consult with our Licensed Benefits Brokers to choose the right plan for your company.
- As an employee benefit broker, Paypro offers multiple programs depending on the needs of your company.
- Work with a company that can help you to customize your system for your company’s specific needs. No two companies have the same considerations when it comes to benefits administration. Working with a company that can help you to shape your systems to your current needs and processes will ensure a smooth transition to your new system.
Identifying the Specific Needs of Your Company
- Make sure to check with your HR team to discern employees’ coverage needs.
- Solicit feedback form your employees and teams to determine what benefits would be the most valuable for them.
- At Paypro we review your employee population, research the best benefits packages, then presented the data in a way that’s easy to understand and digest so you can make the right decision for your company.
Software’s Potential in Employee Benefits Administration
- Paypro’s benefit administration services is part of a unified platform which integrates data from HR, payroll systems and time tracking, connecting each module to support the needs of your unique business.
- A custom solution that is tailored to your company’s existing processes will help to ensure a smooth transition.
- Improve time management within your HR teams by automating important data entry tasks and streamlining the benefits selection process.
- Through Paypro’s online portal HR can set up reminders and alerts for employees to use the self-service system and select the plan that’s right for them.