In many cases, your employees don’t pay attention to how much you, the employer, are paying out for benefits. They start paying attention only after they hear about COBRA rates. A popular feature that is included with every HRIS product is benefit statements.
Basically, they provide employees with a total compensation statement. Jane Doe makes $30,000 a year but with the addition of the employer match on 401K and with the employer’s portion of insurance and dental she makes $35,000. If you the employer are offering ever more expensive benefits, it’s certainly important to let your employees know.
I have modified these reports many times and included the employer’s portion of social security, leave time, and additional benefits. It might be good idea, during your evaluation, to ask how much opportunity there is to modify and customize these statements.
I have seen the companies I worked with hand these statements out before open enrollment, with annual reviews, or whenever employees ask about benefit details. Benefit statements are an additional item of a long list of benefits of an HRIS system or HRMS software package that can benefit your entire organization.
What Are the Most Popular HRIS/HRMS Features and Options?
Based on results from the CompareHRIS.com Human resource information system (HRIS) selection tool, CompareHRIS.com was able to compile the following list of the most popular features and options offered with today's industry leading HRIS/HRMS applications. The results show the percentage of the time each feature or option was selected by those using the selection tool from surveys completed over the past year.
The Pivotal Role of Human Resources in Strategy Implementation
Human Resources (HR) has evolved from a somewhat nebulous concept into a vital strategic asset in businesses worldwide. As companies increasingly recognize the importance of strategic HR in driving organizational success, the focus has shifted from developing strategies to effectively implementing them. This article explores the critical role HR plays in strategy implementation, offering insights and guidelines to enhance HR's impact on business outcomes.
Do I need Employee Tracking Software
Yes, it’s true an employee tracking software system can save you work but it can also create some work, especially up front.
