An HR benefits platform helps enable employers to choose benefit package options for workers, while also facilitating plan selection and enrollment. It helps streamline and simplify the process of signing up for benefits like health insurance and retirement plans.
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HR benefits platforms can save you a ton of money and help your business run more smoothly. Here are seven advantages of using one.
Why should you use an HR benefits platform?
An HR benefits platform can help simplify and accelerate the open enrollment process. Signing up for benefits can feel overwhelming, and offering a streamlined solution can help your employees feel more confident in the process.
In addition, having an HR benefits platform can boost employee satisfaction, which is crucial for any business. Benefits administration software benefits employers, employees, and Human Resources.
Here are the advantages of having an HR benefits platform:
- Time savings. Human resource managers can spend hours putting together information for new employees and completing tasks, like duplicate data entry, answering employee questions, and preparing benefits packages. This means that there are hours upon hours of lost time that could have been better spent elsewhere. And it’s not just time-consuming for human resource employees but also employees and health insurance brokers. Having an HR benefits platform can accelerate this process and benefit almost everyone involved.
- Reduce errors. Utilizing an HR benefits platform ensures that information is inputted accurately and efficiently. This is because the platform automates data entry, which in turn reduces the number of mistakes made when reading through or manually completing paperwork. In addition, the data integration process can also be integrated with insurance carriers.
- Convenience and overall satisfaction. An HR benefits platform allows easy access to benefits information at any time. This will enable employers, employees, and other stakeholders to access information conveniently anytime they want, from any location. The ease of access allows employees into the decision-making process and gives them a chance to update their own benefits when needed and answer their own questions.
- Benefits analysis. Having an HR benefits platform allows employers to monitor their employees’ enrollment process at any given time and can provide data on enrollment per benefit offering.
- Enhanced transparency. With an HR benefits platform, employees have access to real-time cost calculations that can help them determine the exact amount their benefits will cost per pay period. They can even see how much employers will contribute to their benefits for each pay period.
- Legal compliance and risk management. Some HR benefits platforms can provide companies with compliance assistance to keep up with evolving legal requirements. It can assist by preparing documents for presentation to legal entities.
- Cybercrime protection and security. Securely store any confidential or sensitive information using an online HR benefits platform. Your clients, customers, and employees will appreciate the extra security and privacy, and your documents will also be protected from natural disasters such as floods and fires.
Get help choosing one of Ashton Benefits’ platforms now!
Whether you’re investing in your company’s own HR capabilities or simply looking for a trusted company to handle these important responsibilities for you, Ashton Benefits has you covered. Get in touch with us now to learn more about our products and services.