Top Ten Advantages of BenAdmin Software - Netchex

If you provide employee benefits, you know that it takes time and effort to manage those programs. Did you know that your company can streamline the benefits process and improve your employees’ overall benefits experience with BenAdmin software? 

The right HR technology improves the efficiency and accuracy of benefits-related tasks. Between legal compliance issues and the danger of miscommunications with insurance carriers, BenAdmin software resolves a wide range of costly and frustrating problems, while also increasing employee education and engagement.

Reduce the opportunities for human error and make benefits more accessible for your employees. Your benefits administration system needs to work. It does NOT need to require extra work.

Here are just a few reasons to upgrade your employee benefits experience with BenAdmin software:

Save time and money

Everybody wants to save money at your company—from the CEO reviewing quarterly figures to the entry-level workers questioning the deductions on their pay stub. Underutilized and unwanted benefits can be a needless expense for the company, as well as individual employees.

For HR departments, benefits administration can be a time-consuming challenge—and one that is often outside of their expertise. From onboarding and enrollment to pay deductions and employee education, a lot of moving parts go into employee benefits. BenAdmin software takes much of the heavy-lifting of your HR team.

Minimize errors

The right benefits administration technology allows even a small HR department to manage benefits programs efficiently in-house, reducing the need to fill out countless forms and manually transfer data to related HR systems like payroll and tax.

Additionally, BenAdmin software allows employees to sign up for the benefits they actually want, reducing the errors that come with paper filing and working through third-party contractors. Without the preventative protection of software, benefits-related mistakes can get expensive for employees and the company.

More clarity and communication

HR software improves the employee experience by removing barriers to employee awareness and communication about benefits. User-friendly employee self-service portals allow for greater transparency and broader access to benefits policies. Adapt educational training resources for your company’s needs, and empower workers to make better use of available benefits. 

DISCOVER: Top Ten Tips for Improving HR Communication

Increase participation and engagement

Some benefits are more popular than others. Sometimes employees are not even aware of all the benefits available to them. An informal survey can be misleading, but BenAdmin software can give you quantitative insights. With accurate data, you can adjust or remove unpopular benefits options. The most popular benefits programs deserve a bigger share of company resources.

Simplify onboarding and offboarding

The arrival and final departure of workers are the two stages of the employee lifecycle with the most HR paperwork. The right HR software can streamline and simplify onboarding paperwork, digitizing and auto-filling most of the repetitive forms.

READ: 10 Tips to Improve Your Onboarding Experience

You can even start onboarding new hires early with a Learning Management System (LMS). Departing employees need to complete COBRA paperwork, and software can document the completion of key forms during offboarding.

LEARN: Why Offboarding Employees is Just as Important as Onboarding

Ensure benefits compliance 

Some benefits are required by law, depending on your industry and the size of your company. BenAdmin software can help make sure that key paperwork has been completed and legal obligations have been met.

The Affordable Care Act (ACA) and COBRA are just two of the federal regulations affecting benefits, but you may have additional state or local requirements.

Give your HR team a break

Managing benefits manually in-house can be a tedious frustration. Your HR team will appreciate the time-saving automation of benefits software. Automatically remind employees about open enrollment periods and help employees make policy changes after qualifying life events. Payroll integration saves time and reduces the opportunities for costly human errors. 

Easier custom reporting

Running the numbers gets a lot easier with integrated HR solutions. Analyze the costs and participation statistics for different benefits programs. Are there particular programs where employees may need more training and awareness? Automatic reporting gives you reliable, quantitative data about the relative success of different benefits programs.

Reinforce your company culture

Popular and accessible benefits can enhance the company’s culture and public image. Employee satisfaction and retention improve when employees feel valued.

A great benefits package can make all the difference when current employees and potential applicants compare their options at different companies. Demonstrate your investment in employee wellbeing and quality of life by making benefits easily accessible.

Strengthen relationship with your benefits broker

BenAdmin software doesn’t eliminate the need for industry experts like employee benefits brokers. Instead, HR software collects employee data for brokers to better help your company. 

Data collection allows for benefits packages to be tailored to the circumstances and demographics of your workforce. Give brokers more detailed insights into your employees and their priorities. 

Learn more about Netchex’s Benefits Administration software:

Learn more about our BeAdmin software, where comprehensive doesn’t have to mean complex. Netchex makes Benefits Administration easy, straightforward, and worry-free.

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