Technology is changing the way Human Resources is managed and administered. It can allow you to automate workflows creating faster information exchange and streamline your HRIS, Benefits Administration and Payroll operations.
Technology can significantly reduce administrative costs, paperwork and errors. According to CFO.com, the average cost for an HR staff to manually enroll an employee is $109.48; the average cost for an employee to enroll online is $21.79 – an 80% savings! According to Towers Perrin, online employee enrollment results in a 15% time savings by HR staff. According to Risk and Insurance, manual administration and billing processes can cause a 7% error in premium billing and a savings opportunity of nearly $11 PEPM occurs by eliminating overpayment due to ineligible dependents, wrong tier coverage, and processing errors.
According to the 2011 Towers Watson survey, the top 3 service delivery issues for HR are 1) talent/performance systems, 2) streamlining HR processes and systems, and 3) greater involvement in strategic business-driven issues. The survey found that companies are making greater investments in HR technology. More than one-third of respondents (34%) said they are planning to spend more on HR technology this year.
“We haven’t seen this level of increase in investment in HR technology since before the economic downturn. The fact that technology spending is up this year is a clear indication of the high level of return that companies are seeing when it comes to technology as a means for improving both HR efficiency and effectiveness,” says Tom Keebler, global leader of Towers Watson’s HR Service Delivery and Technology practices. The 14th annual HR Service Delivery Survey polled HR and HRIT executives from 444 organizations.
In the past several years, Seitlin Benefits has positioned itself to become a significant strategic partner working with employers to bring this value added service to their organizations. With over 100 vendors in the technology sector, it can be quite challenging to determine who and what is the right solution for your organization. That’s where Seitlin comes in. Below are the steps we will take to find the best technology solution to fit your needs and structure:
- Discovery and needs assessment – we want to fully understand your current structure and what you would like to accomplish with a new system. We will perform an in-depth analysis of your processes and systems you are using now. Among other things we will be sure any system you consider has effective integration with your general ledger, benefits administration and HRIS components to assure “seamless one touch entry.”
- We will then prepare a “RFP – request for proposals” – to review with vendors that potentially could be a match. We have access to the entire marketplace of payroll, HRIS, and benefits administration vendors. With over 100 vendors in the marketplace we can assist in narrowing down the list to only those that are a fit for your firm, your needs and your criteria.
- We will obtain, compare and analyze the proposals from the vendors based on your criteria.
- We will schedule demo’s with those vendors and participate alongside you. It is important to see the systems in action and determine what you like and don’t like to help narrow the selection. We can help you compare important differences in the systems according to functionality, security, pricing, and data integration.
- We will assist you with the vetting and decision making process. We will make sure the system you select accomplishes your objectives and that each vendor can meet the implementation timeline you and we determined in the beginning.
- We will oversee and manage the implementation. Once the right vendor is selected we will stay engaged to be sure the implementation goes smoothly and you have a technology advocate on your team to hold the vendor accountable.
- We will become a permanent ongoing part of your service team to be sure the system continues to perform properly after the implementation.
To summarize, why automate? Technology increases accuracy and minimizes data errors with singular online entry, reduces printing costs and legal risks, and eliminates duplication and overpayments with data management controls.
Why wait any longer? Let Seitlin come in to determine your needs and help you find the Technology solution that is best suited for you!
For more information, contact:
Ramona Fiumara
VP & COO – Seitlin Benefits
Tel: 954.903.1622
Email: rfiumara@seitlin.com
Seitlin Benefits invites you to our annual comprehensive review of the results for the South Florida Employee Benefits Benchmarking Survey. We look forward to sharing the trends of the South Florida area and letting you in on what other area employers are doing to control the rising cost of health care.
Seitlin Benefits is pleased to inform you about the 2011 South Florida Employee Benefits Benchmarking Report. Receive a complimentary customized benchmarking report to see how your plans compare with both local and national employers. By answering just a few questions pertinent to your benefits program we can prepare for you a customized report to give you insight to what other employers are doing and help you make decisions about your program.
Join Seitlin Benefits, September 21st at 12pm for a free strategy building webinar. Our speaker, Dr. David Rearick and Stacy Barrow, Esq, will discuss how to use social networking and social media in workplace wellness. Dr. Rearick and Mr. Barrow will answers questions like: