How To Customize Employee Benefits With a Smart Healthcare Solution?
- By Scarlett
The pattern of choosing an employee benefit for self is like choosing one sheep out of a herd. Each employee is free to choose a separate or customize the plan for himself or sometimes a plan for all i.e. called group benefits.
Consequently, the process of working with employee benefits is a bit complex for both the employee and employer and sometimes even becomes a headache because of the abundance of benefit plans as well as benefits brokers too.
All that happens because benefits are considered necessary for employees as well as employers if they are in a business in the United states. It is crucial to follow healthcare acts set by the federal government as employee benefits are a part of corporate culture all across the globe.
However, they aren’t as strict in other countries as they are in the United states, but most of the countries are now adopting this rule as a part of their corporate culture.
Firstly, Let us see what a smart healthcare solution is?
A normal healthcare solution is basically considered a software that accommodates a healthcare business only. On relevant activities and administrative works like patient admission and discharge, insurance claiming, appointment with the doctor, scheduling the patients as per the doctors’ schedule, etc.
An ideal healthcare solution is ideally about all that only.
However, HCM solutions nowadays, that are incorporated in an enterprise business model, work as an all-in-one solution. The reason why they are also designated as ‘smart’ is that they provide all the functionalities in just one place by becoming a platform itself rather than just being software.
Let’s see what functionalities a traditional HCM solution used to offer, and how the time has changed with respect to HR solutions.
Customize Employee Benefits Through Smart Healthcare Solution
● Choose Employee Benefits
Employee benefits management was traditionally done physically through brokers i.e. insurance agents. It was quite hectic then and it is a bit hectic yet to choose one benefit from more than a thousand.
Not just choosing the plan was messy, but keeping the documents and concerned bonds physically was a matter of risk and responsibility as well.
Now, smart HCM solutions refrains every single person concerned with employee benefits, be it the beneficiary, or the broker itself, free from physical interactions and allow them to manage everything on a platform called benefits employee portal.
● Manage Broker administration
Being a broker, you could enroll and manage multiple clients all at one place with smarter hcm solutions. Healthcare cum hcm solutions like Accomplish EP renders employee as well as broker benefits portal for overall benefits administration.
Not limiting to this only, it also allows TPAs as well as the insurer careers to enroll as the benefits provider directly and deal with the brokers as well as direct beneficiaries including the individuals or groups.
Smart healthcare solutions allow each of the three entities i.e. beneficiaries, brokers, insurer careers/TPA to manage their work or customize the benefits from just one place.
There exist some functionalities other than just benefits administration too, that a smart HCM solution supposedly renders to its user/organization. And those functionalities are as below-
1. Payroll Management
Payroll has always been a mind boggling task for the human resource department. It could create a chaotic situation if not handled properly with adequate agility and has a potential to hinder the entire work peace of the organization.
Payroll management does not only include the salary construction but it takes every inclusion and exclusion of work and absence respectively.
It has to check through the leave and attendance report as well as the other possible deductions like garnishments, travel allowances, etc.
Smart hcm solutions provide online payroll services such that it prepares the salary report before the month ends and keeps track of every other possible inclusion for the final salary approval.
● Compliance Management
Compliances are sort of a responsibility in a way that it binds the employee as well as the employer to follow some rules and regulations to be in the enterprise and corporate sector. Denial or disobeying of which might invite some not so desirable consequences in the form of legal actions.
Smart HR solutions nowadays are embedded with intelligent ACA compliance management and features that keeps every law and regulation in the regular application.
It enrolls every new employee keeping all the companies act enacted and never lets the company face any such legal action that is probably possible if the entire compliance management is left in the hands of an HR personnel.
● Succession planning Management
However, the succession planning management is a part of talent acquisition, which was earlier just a practice to be followed within the organization and was discussed in between the senior officials of the company only.
Nowadays, this feature as well, is embedded in some of the latest HR solutions like Accomplish EP. And this could be the reason why it claims to be an all-in-one solution for the HR department.
It's because it has everything ranging from payroll, compliances, compensation, benefits administration including retirement benefits as well as group benefits management, and talent acquisition management too.
● Talent Acquisition and Management
Talent acquisition is a process of research, analysis, and risk management by sourcing the new employee, scrutinizing the same in terms of the company’s requirements, and then to hire the same.
Traditionally, it was quite a long process which was done with the help of acquaintances and other known relations only. Now, since database-based services and online connectivity has become common for almost every country in the world, the talent search is now done with the help of an online database, which is supposedly to be handled by the HR personnel to find one appropriate talent for the duty. The process of searching for talent is called ‘Sourcing’.
Nowadays, smart HR solutions are embedded with the same too.
Not only just ‘Sourcing’ but its ‘Scheduling’ as well as recruiting and training can be handled with the smart hcm solutions.
In this way, it is a matter of choice whether you choose a smart and all-in-one HRMS or you keep the traditional dedicated software for every functionality separately and then integrate all of them with each other.
Smart healthcare cum HR solutions are now capable of customizing the employee benefits as well as it gives access to customize the entire dashboard if you enroll with the benefits administration portal.
Make sure to hire the best software that is easy in integration as well as result better in a cost-effective expense.