How employee benefits platforms reduce benefits administration

Managing benefits can feel like herding cats. ‍That’s where benefits platforms come into play – a solution meant to ease the administrative burden of employee benefits. Here's how.

HR Tech

⋅ min read

In today’s competitive job market, attracting and keeping the best talent is no walk in the park. And a big part of that puzzle is the benefits you offer. But, as you’ve come to find out, managing these benefits can feel like herding cats. 

That’s where benefits platforms come into play – a solution designed to take the load off the administrative burden of employee benefits. 

So what exactly is a benefits platform, and how can it help your team? 

Save time with automation and integrations

Benefits platforms, like Ben, offer automation and integration features that axes the time spent on administrative tasks. By connecting HRIS, payroll, and accounting platforms, everything just…clicks. 

In other words, they give your HR team a helping hand so they can focus on the stuff that really matters. 

Simplify and streamline your reporting 

One of the standout features of benefits platforms is how easy reporting becomes.

Platforms like Ben offer a Global Payroll Report that details benefit deductions and wallet top-ups for each month. Combined with our Reporting Transactions Summary, you gain access to a concise overview of:

  • all reportable transactions, 
  • encompassing reimbursements, 
  • settled purchases, 
  • and refunds. 

With intuitive filters, you will be able to easily sift through data by month, year, username, or benefit. Now, your HR professionals can navigate and extract relevant data without being lost in a maze of spreadsheets. 

For a comprehensive understanding of these reporting features, this article provides valuable insights.

Track your benefits engagement 

We live in a world where 89% of employers express their desire for efficient benefits data analysis (REBA’s ‘Data and Technology Research 2023). Combined with the fact that 75% of those surveyed in the study believed that better benefits data can enhance benefits engagement and improve EVP, you’re likely in the same boat. 

This serves as a double-edged sword– you spend days, if not weeks dealing with the administrative burden of setting up a benefits package, and you have no idea how well your employees are responding to it. 

Luckily, one of the main benefits of benefits platforms is the ability to gain a holistic overview of what your employees are engaging with.

Benefits platforms come with a dashboard that gives you a birds-eye view of the benefits your team is engaging with. Essentially, it gives you a cheat sheet for crafting a benefits package that hits the mark. 

Communication with providers is taken care of

When it comes to sensitive benefits like medical and life insurance, dealing with providers can be…challenging to say the least. 

Benefits platforms take this challenge off your plate, making sure that complex benefits are handled with efficient care. And considering the sensitivity of something like health insurance, you are giving your employees peace of mind, knowing that they’re taken care of. 

Get flexible/ self-serve benefits

There’s an old saying that states “what works for the goose will work for the gander”. 

Well, when it comes to employee benefits, that couldn’t be farther from the truth. 

While your employees with children may be thinking of life insurance, your other employees may be more interested in a sabbatical leave policy. A one-size-fits-all approach is bound to leave your employees disengaged and somewhat frustrated. 

However, benefits platforms like Ben offer flexible, self-serve benefits that allow your employees to choose the benefits that matter to them.

Take the case of Thriva for example. Through Ben, they offered their employees seven flexible benefits. The result? An 87% engagement rate!

And if their employees weren’t fond of any of those benefits? Thriva employees were able to use a Ben Mastercard which came with an allowance, so everyone was catered to. As there’s no limit to where their team can spend their allowance, they had more options than they would with any other platform. So, if the team chose to spend their money on a massage for that month, they could go to their favourite masseuse rather than a select list of providers. 

The best part? They didn’t have to do any of the administrative work themselves!

The future of benefits administration?

It’s quite telling that even in our digital age, 76% of employers are manually sifting through benefits data. But as our landscape evolves, so should the tools at our disposal.

Platforms like Ben are gently reshaping the benefits scene, and offer your team a more streamlined and intuitive approach. If you’re tired of sitting at your desk, manually crunching numbers, then maybe it’s time for you to book a demo with Ben! 

Check out our latest piece here on how these platforms are boosting employee productivity!

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