The Use and Value of HRIS System or HRMS Software Benefit Statements
Posted on | January 26, 2009 | No Comments
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’s 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 HRIS benefits 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 HR Information Systems or HRMS software package that can benefit your entire organization.
Tags: benefit statements > hr software > HRIS benefit > hris benefit statements > HRIS benefits > HRIS product > HRIS system > HRMS software
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