Are you tired of wasting time on business human resource tasks? Do you find that you are spending much of your workday interviewing and hiring new employees? When you hire them, it seems like there are only even more tasks to complete. You have to submit new hire paperwork, enroll them in benefits programs, and provide them with training materials. You also have an entire list of additional HR administration tasks requested from current employees. The human resource tasks of a business may seem never ending, but they are an important part of any business. If you do not want to be tasked with HR compliance tasks, consider utilizing a benefits program administration program.
Ensure HR compliance
The government regulates many human resource practices to ensure that all employees are being taken care of. They mandate things like pay, hours worked, and benefits offered. If you are not familiar with these requirements, you may find your business faced with severe fines. However, when you outsource your HR tasks or use a benefits program administration program, you can ensure that you are following all of the required state and government human resource laws.
Reduce employee turnover rates
There are many things that contribute to high employee turnover rates. Approximately 57% of organizations view employee retention as a problem, and 22% of new hires leave their jobs within 45 days of being hired. Reasons include poor performance and temperament issues. Additionally, there are also a high percentage of individuals who are let go within a short period of hire date. Regardless of the reason or cause of leaving, the human resource departments is tasked with closing out the current employee and then hiring new employees to fill the open positions.
This process can get very expensive and timely for a business, especially if you do not have a dedicated or large enough human resource department. A benefits program administration can better target employees that are more likely to succeed in the open position. This increases employee satisfaction and decreases employee turnover rate. It allows the business to spend more time and money on profit increasing tasks, rather than HR tasks.
Track all employee benefits
In today?s working world, employees expect to receive benefits at their job. These benefits include things like health insurance, retirement funding, and other perks that make the job more worth the current pay. In fact, 45% of employees cited retirement benefits as an important reason to stay with their current employers, and 29% of employees viewed retirement benefits as an important reason they decided to work for their current employers in the first place. It can be difficult to keep track of these benefit programs. When you provide employees with an employee self service program, a dedicated benefits administration department is not needed.
On boarding programs for company success
Benefits program administration programs can also affect other parts of the business. Many businesses fail at providing new employees with an effective on boarding program. On boarding programs not only reduce employee retention rates, but can also increase employee productivity and profits of the business. New hires that undergo a structured on boarding program are 58% more likely to be with the company after three years. You do not even have to give up much in terms of resources to design a successful on boarding program. Even entirely virtual on boarding programs can be beneficial to an employee?s overall satisfaction and job understanding. HR software programs can be used to track program attendance and program materials, ensuring that the course remains relevant to the person?s specific position.
The human resource department is an extremely important part of any successful business. Although they may not directly work in sales or manage accounts, they are crucial for employee satisfaction, employee performance, and keeping in line with current government and state hiring laws. Depending on the size of a business, multiple human resource professionals may be needed. If you find that your human resource tasks have become overwhelming, considering using a benefits administration program to handle all of these necessary tasks.