Providing an employee benefits package that attracts and retains talent is easier when the benefits program is supported by the right HR software. In fact, many benefits programs fall flat because they don't exist in a digital ecosystem that makes them accessible.
Benefits advisors need to be aware of the make-or-break power clients' HR software infrastructure wields, as well as how to help employers put these ecosystems into place. It'll help you do your job better, and most importantly be a key tool to winning and retaining clients.
HR Software to Support Employee Benefits Management
HR software (HRIS, HCM, and applicant tracking systems) and payroll solutions are common and increasingly essential tools for managing HR functions, including payroll processing, compliance, reporting, and benefits administration.
An employee benefits offering can be beautifully supported by a company's operational software ecosystem, if they have their digital ducks in a row. HR technology has proven itself as a means to increase employee buy-in for benefits—
Here are ways we see again and again how the right HR systems support employee benefits programs:
- API and "plug-in" integrations with various benefits providers remove barriers for companies, which aids adoption.
- A main digital hub, such as an HRIS, simplifies an HR team's overview of current benefits offerings, subscription expiration dates, qualified employees, etc.
- HR software automatically complies to federal and relevant state data security laws, which means employees' health and other sensitive information required for benefits enrollment remain private.
- With regular automated employee communications from the HCM suite, teams are consistently made aware of their benefits options.
- Employee portals make it easy for employees to enroll for and access their benefits.
- With automated enrollment, benefits can be personalized without creating a huge administrative burden.
- Pinned to a reporting tool, employers can track how often employees use their benefits. This informs HR teams whether the company's benefits offering is valuable to employees.
- Modern payroll solutions make copayments a breeze. Employers who have them are more likely to enjoy offering benefits than those with manual systems where benefits create additional administrative load.
The list goes on, but hopefully it's clear how essential the right HR tools are for a benefits program to be successful.
A standout benefits program can't operate in a tech-void or in an environment where the existing software doesn't support the benefits offering. If you're not sure how to help clients and don't have the right expertise, get some help from SSR's
Helping Employers Create a Favorable Tech Ecosystem
As intermediaries between employers and benefits providers, the benefits broker's position is to design, implement, and manage benefits programs. Brokers whose clients use the right software solutions have an easier time providing benefits programs that drive value for employers and employees.
However, employers often don't know what software solutions to use, which creates a huge problem for benefits advisors.
When faced with the dilemma of an employer who's HR infrastructure prohibits a smooth benefits workflow, benefits advisors can add value in two significant ways.
Insight to Buy the Right HR Tools via an HR Software Advisor
The most common hurdles companies face when seeking HR and payroll software are cost, time, and fit.
- Cost: HR teams are often put off investing in software because payment structures are intimidating, or vendors give vague answers about bottom line spend.
- Time: The HR software landscape is vast. To give just one vendor due consideration can require research, demos, and multiple sales calls. This pulls HR teams out of their day-to-day duties. Most teams will want to look at a few options, and the hours add up. A buyer journey can take so much time that teams lose interest or simply buy a tool that looks "okay" so that they can move forward with implementation.
- Fit: When speaking to HR and payroll software vendors, HR teams inevitably deal with a salesperson. The salesperson will have a natural incentive to make their solution work for the buyer, regardless of whether it touches each of the company's pain points.
Using an
- Pricing insights: HR software advisors have a comprehensive cost overview and run price comparisons between vendors based on real client data. Using these pricing datasets, they can quell any fears HR teams may have about falling for an overpriced solution.
- Purpose focussed vendor shortlists: With a comprehensive understanding of what tools work best according to company size, industry, and workforce management style, HR software advisors can match up an employer's needs and provide a shortlist of tools that are fit for purpose. This relieves HR teams from commiting time and resources to a ton of demos and sales calls for tools that won't work.
- Impartial matching: HR software advisors are impartial to the tool the company buys, as long as it works for them.
Advocating a Valuable HR Infrastructure that Drives ROI for Clients
As we've now seen, the right HR software props up a stellar benefits offering. But that's not the whole enchilada. A system capable of handling enrollment and management for diverse benefits packages would also add value to the employer's other HR functions.
HRIS, HCM, and ATS software drives ROI in the speed and accuracy they bring to HR tasks, hiring, native compliance and risk management, and analytical workforce insight. Highlighting the value these tools bring to a company can incentivise HR teams to invest in good software.
By helping clients build out an effective HR infrastructure, benefits advisors make themselves invaluable to the organization's continued success.
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