Staying compliant with current laws presents an ongoing challenge for businesses.
Showing how your benefits administration program aligns with your company values solidifies the importance that you place on your employees. One significant way to demonstrate the importance of your company’s benefits program is to create a separate benefits brand.
At some point, outsourcing benefits administration might be the best solution for your company. By outsourcing these administrative tasks, you can free up company resources and allow your employees to focus on other areas.
Here at BenefitElect, we want you and your workforce to have the best experience possible. Making sure your employees make the best benefit decisions is important to us.
The benefits of employee retention are extensive. These include a focus on meeting long-term goals, an increased bottom-line and a healthy workplace.
When employees stay long-term in the company, it also makes it easier on HR. This is because frequent onboarding of new hires requires time, effort, expense and mounds of paperwork.
With a best of breed model, a company focuses on one service or product that has a more comprehensive, and better, breadth and depth of functionality than all others in the market. While all-inclusive systems may have the convenience factor of having all modules on one platform, not all modules are created equal. These systems tend to take a “one size fits all” approach rather than be structured and configured to your individual needs.
Over the past several months, we have experienced the effects of the economic shutdown caused by COVID-19. It has impacted businesses in many ways and introduced challenges that have required creativity, flexibility and innovation.