Online HR software provides businesses with effective human resource solutions that can be tailored to their specific needs. Every business is different, so every business has different needs that may not be met by all traditional HR software products.
The human resources department of any business has a lot of information that has to be accurately recorded and tracked. HR departments are responsible for tracking work time, compensation, health benefits, paid leave, and so much more. The larger the company, the larger their human resource needs are going to be. Online hr software can handle all these issues regardless of the size of the company.
According to a recent survey, 59% of small businesses provide their full-time employees with paid sick leave. Paid time off is one of the most common benefits offered to employees and one of the most sought after for employees. Research shows that 77% of all full-time employees get paid holidays and paid vacation time.
The vast majority of full-time employees get health coverage and paid sick leave as part of their benefits package. For many, the benefits package they are offered by a prospective employer is as important as the salary they are offered. Over 50% of employees have stated that their benefits package is the primary reason they are staying with their current employer.
For a company, offering benefits increases the quality and retention of their employees. However, it also creates more work for the company?s HR department. Having easy-to-use and efficient HR software is essential to the smooth running of a business.
Benefits administration software will ensure that everything is tracked and monitored appropriately and all employees get the benefits they deserve and expect. It also allows the company to stay compliant with all laws and regulations dictating benefits.
For example, the Family and Medical Leave Act (FMLA) provides all employees with up to 12 weeks unpaid leave within each year. FMLA can be applied to child birth, self-care in the case of a serious illness, or for the care of an immediate family member with a serious illness.
While an employee is protected by FMLA, their position within the company has to be protected. That employee can not be let go or replaced. Other legislation includes the Patient Protection and Affordable Care Act. This dictates when a company is required to provide health coverage for their employees.
Employee benefits administration software can help a company stay on track in regards to the benefits they are providing. It can also make it easier to assess overall benefits when making structural changes within the company. While this is specialized software, it is also software that HR team members can easily learn and operate. Online hr software is just one of the many benefits administration tools a company can use to stay ahead.