For most businesses, the most important department may be human resource benefits administration. Business owners and administrators know that the key to retaining the best staff is to offer excellent benefits. At the same time, for small businesses, managing employee benefits can be a complicated and time-consuming process. Fortunately, employee benefits software can help with all aspects of human resources benefits administration, to ensure satisfied employees and full compliance with federal regulations.
Employee benefits: not just a good idea, it’s the law
Employee benefits are the key to retaining the best staff. As many as 50% of all employees say that benefits are one of the important reasons why they stay with an employer. Benefits such as group health plans are not just a good administrative strategy, they are required by law.
Legislation like the Patient Protection and Affordable Care Act mandates that employers with 50 or more full time employees have to provide appropriate health benefits to all employees, including those who are part-time employees. One of the commonest benefits that companies provide is paid leave, which covers sick leave and holidays. As many as 98% of all full-time workers have paid sick leave.
Human resources software makes benefits management simple
Resources like web based software for human resources is easy to access and make it simple to ensure that the business is in compliance with all federal, state and local regulations. This is the reason for its increasing popularity and a study found that 57% of companies surveyed were planning a major new human resources software purchase in the course of the next year and a half.
Human resources software can help ensure that your employee benefits are properly managed. It can also help you rue confident that your human resource benefits administration is in full compliance with all federal, local and state regulations regarding employee benefits.