New hires feel dissatisfied when you hand them a 30-page benefits guide full of insurance jargon and a monochrome enrollment form to get their details and preferred benefits.
When documenting employee benefits, speed, accuracy, security, and simplicity are non-negotiables.
You need benefits administration software to streamline choosing benefits and make it easy for HR teams to document these details.
49% of employees will likely seek new opportunities in a year because of confusion or dissatisfaction about benefits packages. Click To Tweet
There are many benefits to using administration software that offer unique features and pricing, making it difficult to choose one. Because of that, we’re here to make it easy for you. Read on to discover the best benefits administration software for your organization.
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What Is Benefits Administration Software?
Benefits administration software is a specialized type of Human Resources (HR) software designed to streamline and automate the management of employee benefits in an organization. These programs range from health insurance to retirement plans, paid time off, and wellness programs.
Primarily, this software helps HR teams reduce the complexity and time commitment required to manage employee benefits. It also ensures accuracy, compliance, and efficiency and offers employers and employees a better experience when documenting and choosing benefit programs.
Why Use Benefits Administration Software?
For HR teams, employee benefits software is the 8th wonder of the world.
Its flexibility, automation, and simplicity make spending less time on repetitive tasks and more time on building relationships with employees easier.
Here are five clear benefits to utilizing benefits administration software tools at your company:
1) Increased Centralization
Rather than manually inputting employee details into separate carriers, benefits administration software offers a centralized platform for keeping tabs on eligibility rules, payroll, compliance, timekeeping, HR integrations, reporting, and analytics. This reduces the risk of discrepancies, streamlines communications, and improves accessibility for both employers and employees.
2) Enhanced Employee Engagement
Hr management software provides employees with self-service portals that enable them to manage their benefits, change options, and view plan details without intervention, thus increasing employee engagement and satisfaction. You can also engage employees in one-on-one meetings where they discuss their benefits plan with you, why they chose it, and how they can maximize their choice.
3) Compliance Manangement
Benefits administrative systems offer compliance management, helping you stay updated and compliant with changing regulations related to employee benefits. This particular benefit also assists in tracking and analyzing compliance requirements, which helps you avoid the risk of legal issues and penalties.
4) Accurate Data Management
Manually inputting employee benefits details leaves room for errors that cause inconsistencies and inaccuracies in records. However, with benefits administration software, processes are automated from the onset, thus reducing errors in employee data and reports.
5) Data Security
Benefits administration solutions offer robust security processes to protect sensitive employee information and prevent security breaches. This helps organizations maintain the confidentiality and integrity of personal data, ensuring compliance with data protection regulations.
Best Benefits Administration Software
Employees who clearly understand what’s covered in their benefits package are 101% more likely to trust company leadership.
This shows that benefits administration software provides more value than simply increasing speed, data security, and efficiency. It helps you attract and retain top talent by positioning you as an employer with employee growth at heart. It also boosts employee morale and productivity by offering employees a seamless onboarding experience.
1. BambooHR
BambooHR is a benefits administration software that focuses on centralization.
This all-in-one SaaS tool helps you combine all your HR systems—payroll, time, benefits, hiring, onboarding, and HR data and reporting. It helps businesses eliminate the hassle of handling several at the same time.
👍 Why this is a good Benefits Administration Software: BambooHR has a colorful and user-friendly interface that makes it easy to onboard new hires. It also helps you collaborate with other departments and ensures accuracy for metrics like headcount, PTO, and pay rate.
🏅 Standout Features:
- Self-service portal
- Automated Onboarding Workflows
- Onboarding notifications
2. Remote
Remote is the best software solution for global and remote teams. With Remote, you can process payroll, compliance, and benefits in countries where you don’t have an entity through an employer of records.
👍 Why this is a good Benefits Administration Software: This employee benefits software has a colorful and intuitive interface that makes onboarding and navigation seamless for HR teams and employees. Each time you log in, this platform updates you on your daily to-do, employee, and contractor information. This keeps you and your workers connected, even with minimal communication.
From the team section, you can access the profile details of team members, including employees and contractors. It also has a cost calculator that spells out the expenses of hiring employees, thus helping you optimize budgets. Finally, this software stands out with its mobile app, which helps you manage employee benefits on the go.
🏅 Standout Features:
- Global Compliance
- Tax Calculation
- Data security and privacy
3. Rippling
Rippling is a comprehensive HR software that helps you streamline HR, IT, and finance globally. It’s best suited for small and medium-sized businesses and offers myriad integrations, including COBRA and FSA. It easily combines workforce systems with many moving parts like payroll, expenses, benefits, and even work devices.
👍 Why this is a good Benefits Administration Software: Rippling has a workflow that lets you set customizable triggers from your core systems to third-party apps. It has an intuitive interface with a smooth learning curve. Hence, HR teams and employees can get started using the benefits platform with minimal guidance. The reporting feature also helps you compile complex data helpfully and concisely.
🏅 Standout Features:
- Employee self-service portal
- Compliance Management
- Pre-tax deductions
4. ADP
ADP is a global provider of cloud-based human capital management (HCM) solutions that cater to businesses of all sizes—small, medium, large, and enterprise.
👍 Why this is a good Benefits Administration Software: ADP offers different versions of cloud-based solutions that cater to businesses with specific needs. ADP Global payroll, ADP PRO for talent acquisition, and ADP onboarding for new hires. However, if you’re looking for a comprehensive platform for benefits management, payroll, and performance management, ADP Workforce Now is your best bet.
🏅 Standout Features:
- Customizable dashboards for employees
- Tax calculation and filling
- Robust integration options with third-party apps
5. Deel
Deel is a benefits administrative system that helps global teams thrive without having to keep tabs on every trail they leave. It offers EOR services, payroll automation, compliance, and HR.
👍 Why this is a good Benefits Administration Software: Deel helps you hire the best talent in up to 150+ countries worldwide and onboard them with a localized contract. It shares real-time updates on global salary insights, so you can ensure your salary rates are competitive. It helps you manage company benefits from a general dashboard with a single click, thus eliminating errors and repetition. Its visually appealing reports and analytics make viewing your company’s headcount, payroll, and productivity easy.
🏅 Standout Features:
- Invoicing tool
- Document management
- Expense reimbursement
6. OnPay
Onpay is a payroll and HR software best suited for small businesses with fewer than 100 employees, as it offers streamlined processes and affordable pricing plans. It has a simple and easy-to-use intuitive interface that makes its integration into your workflow a seamless one.
👍 Why this is a good Benefits Administration Software: Its online payroll processing system is all-encompassing. It handles all the relevant calculations and deductions for each employee and generates tax documents and pay stubs. It ensures compliance with tax laws and regulations. It lets you set up timely payment schedules and options like direct deposit and check printing to suit your employees and business processes. Its HR solution includes onboarding & offboarding, employee directories, and document storage.
🏅 Standout Features:
- Pre-tax deductions
- Automatic tax payments
- Excellent API for integration
7. ClearCompany
ClearCompany’s talent management system empowers businesses to focus on maximizing talent. It provides a clear and seamless pathway for new hires, from applicant tracking to employee engagement, performance management, and analytics.
👍 Why this is a good Benefits Administration Software: ClearCompany has an intuitive, colorful, user-friendly platform for effective talent management. It has responsive customer support that provides you with detailed responses once you need them. Its ease of use ensures you can get started immediately with minimal training.
🏅 Standout Features:
- Great annual review system
- Intuitive applicant tracking system
- Applicant data management.
8. Gusto
Gusto offers a single platform for HR tools, benefits enrollment, payroll, and compliance support. It sends reminders of upcoming payments, so you’re always on time with employee payday. You can also view employee details and hours worked with a time-tracking tool. It’s the best HR tool for small businesses looking to stabilize and grow a strong employee community.
👍 Why this is a good Benefits Administration Software: Gusto helps you find the perfect healthcare package, including HSA, 401(k), medical, dental, and vision administration for team members. Gusto has a colorful user interface with fun micro-interactions that make the user experience unforgettable.
🏅 Standout Features:
- Automatic tax filing
- Responsive customer support
- Inbuilt financial tools
9. JustWorks
JustWorks focuses on helping small and medium-sized businesses thrive by simplifying payroll, HR, and benefits. If you’re looking to hire talent globally, Justworks’ EOR services make it easier to handle onboarding and payroll without a local entity. It helps you spend less time worrying about compliance and more time growing your team.
👍 Why this is a good Benefits Administration Software: JustWorks enrollment process helps you make a good first impression on new hires. In a few clicks, new hires can set up direct deposits, review company policies, and choose benefits without the grueling paperwork.
Its professional employer organization (PEO) allows you to share responsibility for certain HR functions while you focus on core business activities. JustWorks offers many employee perks, including 401(k), life and disability insurance, health and wellness benefits, and fitness memberships. These rewards boost employee morale and health, thus increasing productivity.
🏅 Standout Features:
- Access to HR experts through customer support
- Compliance support
- Affordable pricing.
People Also Ask These Questions About Benefits Administration Software
Q: What are the main features to look for in benefits administration software?
- A: Depending on the size of your company, there are so many features to look out for that it can be difficult to tell which ones are the “main” ones. However, good employee benefits administration software should provide hassle-free migrations from previous HR solutions or processes, a centralized benefits dashboard, enrollment and onboarding tools, compliance management, and a seamless payroll solution. You also want to check the software’s ease of use and complexity level, especially if you don’t want to get bogged down with irrelevant details.
Q: How does benefits administration software improve HR workflows?
- A: Benefits management software saves HR teams a lot of time and reduces errors in employee benefits options, thus increasing the overall experience for both parties. It also acts as an incentive to attract the best talent. When employees are constantly paid on time and have their paid time off approved post-haste, they’ll be willing to stick with and refer your brand.
Q: How does benefits administration software handle different types of employee benefits?
- A: Benefits administration software streamlines the management of diverse employee benefits by automating processes related to health insurance, retirement plans, flexible spending accounts (FSAs), health savings accounts (HSAs), leave management, dental and vision insurance, and wellness programs.
Q: What are the security measures in place to protect sensitive data in benefits administration software?
- A: These programs employ advanced encryption protocols to protect information during transmission and storage. Access controls and role-based permissions prevent unauthorized access. Timely security audits help identify data breaches or potential vulnerabilities, while secure backup and recovery mechanisms ensure data integrity. Also, many benefits administration platforms adhere to industry standards such as HIPAA for healthcare-related data or GDPR for European users, ensuring compliance with data protection regulations.
Q: What are the cost implications of implementing benefits administration software?
- A: Administrative software has different benefits and pricing options for specific business sizes. Whether you’re self-employed, have 20, 50, or 1000 workers, or you’re an industry, there are specific pricing options. Some software charges as low as $46 to as high as $566 per month.
Q: How does benefits administration software enhance the employee experience?
- A: With benefits administration software, employees can easily access and manage their benefits and check their coverage details. Also, the employee self-service portal reduces the burden on HR teams. Also, automating leave management and claim processing reduces paperwork and minimizes errors. A combination of all these changes enhances employee experience and satisfaction.
