The Use and Value of HRIS System or HRMS Software Benefit Statements

Jul 24
08:12

2009

Clay C. Scroggin

Clay C. Scroggin

  • Share this article on Facebook
  • Share this article on Twitter
  • Share this article on Linkedin

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 is included with every HRIS product is benefit statements.

mediaimage

Basically,The Use and Value of HRIS System or HRMS Software Benefit Statements Articles 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 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 HRIS system or HRMS software package that can benefit your entire organization.