Benefits & Payroll – How to Get The Best of Both Worlds

In a fast-paced world, convenience is king. If there’s a convenient way to complete a task, that’s the way we go about it. The same can be said for HR technology. When platforms claim to streamline administrative tasks, we often look to them to solve time-consuming and clunky HR processes.

In the landscape of HR, convenience is a great selling point. HR professionals’ days can get pretty busy, and teams are in need of relief. Employers turn to platforms that use convenience as a value statement, but they quickly realize it was just that — a statement.

This is why it’s important for benefits consultants and employers alike to be wary of systems that claim convenience. Many of these systems are inefficient and end up compromising certain components of the HR ecosystem.

The all-in-one solution trap

Among these inefficient platforms are all-in-one HR solutions. On the surface, they sound like convenient, cost-effective options. They house modules for benefits, payroll, and a mix of other HR components, giving the impression of a streamlined approach to HR tasks. Having benefits and payroll on the same system sounds convenient, but HR teams will say otherwise…

With all-in-one solutions, typically one module works great, while the others suffer. Usually, these platforms are built around payroll as the main priority. That means the benefits processes have become compromised. Teams will find that administering benefits has become a time-consuming, clunky, and error-ridden mess. Whatever cost savings and convenience teams hope to achieve is now out the window.

What to do instead

It is possible to get the best of benefits and payroll (and HCM as well) without compromise. This is possible by implementing best-of-breed benefits technology.

A robust benefits technology platform establishes a centralized, web-based record-keeping system that efficiently monitors and manages employee benefit changes. It transmits data through various integrations. Integration eliminates redundant data entry and reduces administrative tasks any time there is an enrollment change. In the context of benefits and payroll, specifically, that data will automatically flow between the benefits and payroll systems for the appropriate deductions.

Integration with an employer’s payroll vendor of choice – that’s how organizations can get the best of both benefits and payroll.

HR teams can upgrade their benefits processes to enjoy streamlined workflows, reduced human error, and get back hours of time without compromising payroll. In the overall landscape of HR, deploying best-of-breed technology for each component of HR and connecting them together is the most effective strategy.

Get the best of both payroll and benefits technology

In summary, while convenience in HR technology is highly sought after, it’s crucial to look beyond the surface promises of all-in-one solutions. These systems often compromise key HR functions, leading to inefficiencies and added frustrations.

Instead, investing in best-of-breed benefits technology platforms offers a more reliable and efficient approach. By integrating these specialized systems with payroll and other HR components, organizations can achieve streamlined workflows, reduce human error, and reclaim valuable time. This strategic approach ensures that each aspect of HR operates at its best, ultimately enhancing overall productivity and organizational efficiency.

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