Today’s employees are looking for so much more than a salary to bring them to work every day. When a job offer is extended, candidates are looking at the entire picture – the employee benefits that make up the total rewards for themselves, their families, and their futures.
As a human resources professional, deciding which benefits you’re going to offer is one of the first steps to attract and retain your top talent. The most common benefits packages today contain a mix of traditional benefits such as health insurance and paid vacation, alongside alternative benefits like student loan assistance, pet insurance, and employee wellness plans.
Once you’ve established the right mix for your workforce, consider your cost effectiveness. Your HR department may seek third party employee benefits administration and management to find the best plans that both meet employee needs and make sense for the bottom line.
And when it comes time to administer plan selections during open enrollment, meeting compliance and ensuring accuracy can be a challenge, especially if all these tasks are currently being handle through manual workflows. The more vendors and employees you have, the higher the chance you’re opening yourself up to errors.
With a human resources management tool, employee benefit management services become a breeze. Empower your employees with self-service, mitigate risk, and pull data instantly to ensure your costs are in line with your budget.
Find out more about Paylocity’s all-in-one suite.