A 2016 report by the Society for Human Resource Management indicates that only 40% of U.S. employees are very satisfied with their current job and organization. Some of the top factors leading to employee job satisfaction include respectful treatment of all employees at all levels, compensation and benefits.
Considering that the most significant employee management tasks fall into the hands of human resources, the shift to new practices and tools to effectively on-board, engage and provide individual-level support is become a trending movement in businesses.
The struggle to effectively communicate and educate employees has been pervasive, and as companies grow and federal regulations become increasingly strict, HR’s tasks and responsibilities become more complex. HR become paralyzed by their day-to-day obligations leaving no opportunity to achieve any employee contact or advocacy. Yet, the need to establish meaningful employee relations and successfully correspond important information becomes absolutely essential.
Plus, the workforce is becoming increasingly competitive. The demand for skilled employees has resulted in an even greater need to attract and retain top talent by offering high compensation, comprehensive employee benefits, and advanced employment opportunities.
Redesigning the workplace environment and corporate culture with human-centric technologies that emphasize the individual employee experience has been a trending focus of CEOs and COOs today. The human resources professional is the leading role situated in the center of this new organizational philosophy.
In fact, in 2016, senior executives and HR leaders around the globe rated reengineering the organizational design as their top priority.
In correspondence with this paradigmatic shift, HR professionals are moving up the technology food chain in regards to the technologies available and their performance capabilities. Leveraging robust HR management tools and benefits administration systems, HR and benefits professionals are able to accomplish their functional tasks and responsibilities, while also personally connect with every employee and develop programs that hone their skills.
Career development includes education and compensation, and companies are assembling benefits packages with the understanding that intelligent employees who are adequately rewarded for their work generate profit for the company. Human capital fuels financial capital.
A customized benefits administration system features a knowledge site, online enrollment and HR management tools. HR is able to offer multiple benefits for different employee levels and coach them through the election process with decision-support tools, educational materials, targeted communications and notifications. Online enrollment affords the personalized, interactive experience that consumers demand. A total compensation statement finalizes the employee enrollment view, essentially revealing the employer’s sum cost of their human investment.
Likewise, HR professionals manage their new hire onboarding, workforce eligibility, digital EOI and dependent documentation, reporting, and even deliver COBRA benefits directly within the integrated benefits administration platform. In addition, employee incentive and wellness programs offered as a separate step in the online enrollment process increase employee participation and lower costs. Financial secure and healthy employees take fewer sick days and are more productive.
Using the advanced computing skills of the technology, HR coordinate administrative tasks, verify documents, monitor employee enrollment, export custom reports, and view employees’ entire transactional history. HR have all the data they need to personally assist a walk-in or phone call from an employee who needs support.
Given the dynamics of the workforce today, human capital is valuable. Employees who are engaged and feel appreciated are more invested in the company’s success and empowered to perform well. Business leaders embrace human-centric technologies that drive employee engagement, education, communication and interaction.
Top companies who wish to remain profitable and competitive in the 21st century are implementing the right HR tools to manage their human capital.
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