It feels like upheaval is constant these days. How are businesses going to continue to not just survive, but thrive, as their teams are asked to constantly pivot, provide novel work and safety programs, and deal with a workforce which is demanding mobility, transparency, and efficiency like never before?
Benefits administration platforms that streamline benefits and payroll can keep employers compliant and employees happy even as companies continue to learn and grow in this changing climate. If you’ve dealt with any of these problems in the past few years, now may be the right time to set up a benefits administration platform which truly serves your team and streamlines your HR needs.
Payroll Problems
If payroll is frequently throwing your business curveballs, it’s time to upgrade your systems to something which can handle the pressure. With a succession of changes such as furloughs, lay-offs, hybrid office models, rehires, and other pandemic-related issues, many companies have experienced trouble getting their employees paid correctly and on time. Don’t risk losing valuable staffers due to check corrections and late payments.
WBD can integrate payroll into your benefits admin platform, streamlining your entire system to keep everyone’s bank balances happy.
Regulations and Compliance
Keeping up with the constant changes to benefits compliance was challenging before the pandemic. Now, with temporary changes to programs such as COBRA and frequent updates to everything from spending account windows to ACA enrollment periods, keeping up with compliance could be a full-time job even in a small company.
WBD handles compliance changes and regulatory updates with ease, providing updates to benefit platforms as necessary. ACA reporting and automatic form generation keeps constant changes in work status and hours from becoming a hardship for your HR department.
Even better, COBRA can be integrated, allowing your HR team to easily manage COBRA enrollees, send required documentation on time, and deal with changes in status such as rehires or an end to coverage. COBRA records live in the HR dashboard, defining COBRA as a status for an employee, not a separate system.
Recruitment and Retention
Has the Great Resignation hit your company? In 2021, there’s no cheap replacement for experienced staff — businesses have to retain the employees they’ve got or face the challenges of recruitment while many Americans have left the workforce and aren’t ready to return. One powerful tool for both retaining workers and recruiting new hires is a robust benefits program. But with great benefits comes great responsibility: from eligibility documentation to finding a provider, it’s essential to keep things simple and intuitive on the employee side, and streamlined and efficient on the HR side.
Your company can weather the resignation storm by boosting benefits and keeping track of it all with a WBD benefits administration platform — providing online access for employees, decision support to help employees made educated choice about the benefits right for them, and an HR dashboard to keep track of communications, documentation, and support tickets.
Could right now be the right time to upgrade your benefits platform? Take a look at WBD’s systems for yourself, and see what your company’s benefits program could look like with a platform designed specifically to boost your business. Click here to learn more.