Many human resources teams struggle to find the time, budget and staffing to perform their daily responsibilities and keep up with employee benefits. Outsourcing benefits administration can help your company better prepare and implement the right benefits strategies to stay profitable.
Here are three reasons human resource professionals work with PT Business Solutions:
1. Balance added responsibilities with day-to-day duties
Your HR department is already a highly-utilized team with a full plate of responsibilities, including recruitment, employee engagement, retention, diversity, training, leadership development, labor law compliance and payroll. Without the assistance of outside experts, you can face countless challenges around managing progressive benefit strategies, employee education and enrollment administration.
As your benefits partner, we free up your HR team to work on their daily tasks and obligations. Our expertise saves your company time and money with customized benefit options and packages that best fit your organization.
2. Stay current and compliant in a changing market
Employee benefits laws are ever-changing. However, the Covid pandemic created a whirlwind of new reforms, including the Affordable Care Act and the American Rescue Plan Act; and the Department of Labor and the IRS continue to issue guidance on a multitude of new requirements. Companies are more at risk for lawsuits, fines and penalties.
PT Business Solutions’ role is to stay on top of legislative and regulatory changes that impact your employee benefits. We provide you with strategic knowledge to deal with day-to-day issues and to plan for the future. We also integrate HR tools with payroll systems to ensure your compliance. That means your systems seamlessly sync your benefits and payroll so that deductions are accurate and benefits are delivered.
3. Educate employees
Employees have a tough time navigating and understanding their employer-sponsored benefits packages. Yet, healthcare benefits are key to increasing employee engagement and retention.
Your overloaded HR professionals are responsible for educating employees about benefits and the packages that provide the best options for them and their families. The job of picking the right insurance packages and then communicating the value to your employees can be daunting without a knowledgeable company that already has years of expertise in this area.
Outsourcing benefits administration simplifies the complex world of benefits. We provide our clients with outstanding results and ongoing communication throughout the year, not just during open enrollment. We also deliver one-on-one benefits enrollment experiences for your employees so that they understand and appreciate their benefits.
Helping HR Help Employees
HR departments have progressively evolved over the years, expanding their roles to include many responsibilities. As your business grows and develops, it is important to understand how administering healthcare benefits affects HR managers. We’re here to help.