During the hiring process, prospective employees are likely the most excited about what your team has to offer and your overall benefits. But it’s critical to keep this momentum going once new hires are on board and encourage ongoing employee engagement.
One way to keep employees motivated about doing great work for your team is by providing ongoing transparency into the benefits your team has to offer. It’s a great start to list benefits on your career site or in your offer letters, but to maintain employee engagement, you should ensure your employees can easily access an overview of their benefits. Below, we’ve outlined several benefits of partnering with an integrated, automated payroll and benefits provider to centralize and automate benefits statements.
Make Employees Feel Valued
Employee compensation goes above and beyond paycheck and salary. In fact, the Bureau of Labor Statistics estimates benefits make up about 37.6 percent of employees’ total compensation. But some employees might not realize just how much your organization is investing in them if they don’t have visibility into their overall benefits statement.
Such a statement enables employees to not only see their paycheck and salary information, but also such benefits as: health insurance, dental insurance, vision insurance, flexible spending, life insurance, commuter benefits, retirement benefits, time off, and more.
By partnering with an integrated hiring, payroll and benefits provider, you can streamline all this information into an automated, centralized report so employees can easily access benefits data and have a full understanding of their total compensation. Ultimately, this will make employees feel valued when they have full visibility into how much you’re investing in each of them. As a result, employee engagement will increase and your staff will be motivated to positively contribute to your team.
Support User-Friendly HR Processes
Beyond having a better understanding of their total compensation and benefits, employees also want day-to-day administrative tasks to be as simple as possible. Starting with onboarding and throughout each employee’s time at your company, your team needs to have the right technology and processes in place to make HR-related tasks user-friendly.
If employees have difficulty accessing their pay stubs, updating their personal information, or losing track of how many systems they need to log into – such as payroll, benefits, time and attendance and countless other systems – chances are they’ll get frustrated with your company’s processes and might even consider seeking out other job opportunities. And today’s top job seekers have countless opportunities at the tips of their fingers given the low unemployment rate and tight labor market.
An integrated, automated payroll and benefits provider can make HR processes as user-friendly as possible, so employees only need to remember the credentials for one system to retrieve pay stubs, input benefits information and access tax forms. This will make all HR-related tasks easier on employees and enable them to spend more time on their day-to-day responsibilities.
Save Your HR Team Time and Resources
Similar to employees facing frustrations if they have to log in to multiple systems to access their payroll, insurance benefits, time and attendance reports, and more, it’s time consuming for your team to manage multiple systems. Each time an employee requests a complete overview of their total compensation, your HR team will have to log into several individual platforms – and you might risk forgetting to include one or more benefits in the overview.
From an administrative standpoint, in addition to not having a centralized view of employee benefits, tapping into multiple systems to manage benefits also takes time away from other day-to-day and more strategic tasks. For example, each time you onboard or offboard employees, or employees have a life event that impacts benefits, you’ll have to log into several systems to make these updates. On the other hand, by tapping into an integrated hiring, payroll and benefits platform, your hiring data can get automatically transferred to the onboarding stage, and various onboarding tasks including enrolling in benefits can be automated, saving your team time and resources.
Total compensation consists of far more than simply an employee’s paycheck and salary. For additional information on how you can make an informed decision when considering a new payroll provider and, as a result, boost employee engagement and motivation with visibility into their overall benefits, read our resource, “The Hireology Payroll Buyers Guide.”