Human capital management (HCM) vendors are using simplification, information, and empowerment in the design of benefits administration features. They are giving employees more control while removing red tape.
Workday created a one-stop shop for benefits administration. Life events and HR transactions sit in the same location as the benefits, talking to one another on the same code base, eliminating need for additional interface and/or steps like uploading or manual data entry.
It centralizes benefit offerings, simplifying configuration. The Benefits Dashboard gives a better picture of vendors and usage data. It also provides a snapshot organizations can use to ensure employees are participating in appropriate plans.
While employers are experiencing a more streamlined process, employees also reap “benefits.” They can now confirm benefits and make changes during a mobile Open Enrollment via their personal devices.
Source: Ceridian Product Information
Ceridian is also leveraging the idea of support through information and employee empowerment. Its new Dayforce Benefits Decision Support feature helps employees make the right benefits selection to fit their lifestyle. Employees participate in Open Enrollment, during which they are presented with options specific to their needs and in response to their answers to some simple questions. Employees also have access to tools, helping them to evaluate the impact of selecting one benefit offering over another.
Vendors appear to be recognizing the need to help employees make more informed benefit selection decisions while also reducing time and expense on transactional tasks at the employer level. Ceridian and Workday are in the Leaders quadrant in Human Capital Management at Software Reviews.
Source: Software Reviews Human Capital Management, Report Published January 2019
Positive employee experiences correlate to higher employee engagement; according to our research, 98% of IT employees who are engaged are “very committed” to the organization. In the absence of a single silver bullet, organizations should be examining every avenue to reduce employee frustration and lessen the potential of disengagement. Streamlining benefits administration within your HCM is one resource available to you.
Thinking about choosing a new software vendor but don't know where to start? Narrow down your shortlist by focusing on software that has received an Info-Tech Research Group award. New data from SoftwareReviews shows that organizations reported higher satisfaction when they switched to software that had received an Info-Tech award.
The impact of COVID-19, as it became a global pandemic in Q1 of 2020, has affected user sentiment toward software during a growing period of fear, uncertainty, and doubt. To analyze the impact, SoftwareReviews compared Satisfaction (willingness to recommend to a peer), ability to deliver Business Value (fair cost to value), and Likeliness to Renew prior to March 10 and post March 10.
What is changing in the HR technology space as a result of COVID-19? Some organizations are seeing an uptick in interest and customer support, while others are providing free access to their product.
An enterprise application selection or implementation has most likely been heavily impacted by COVID-19. Do not hit the brakes; stopping and restarting projects increases the risk of failure. Slow down or speed up? Which is the right strategy for your organization?
Business continuity during COVID-19 will mean leveraging online technologies for all departments, including human resources. IT departments can assist in recruiting efforts by ensuring virtual interviewing technologies are in place and supported.
Culture Amp has enabled a new feature to increase employee confidentiality. With this launch, administrators can no longer identify participants indirectly.
On February 21, Kronos Incorporated and Ultimate Software announced the merger of the two entities. Both entities’ controlling stockholder is the private equity firm Hellman & Friedman. The merger was approved by both boards and is expected to be completed by the end of March.
Cornerstone is acquiring Saba, a learning management system, to further invest in its learning offerings and gain reach in the market. With this acquisition, the organization intends to accelerate product development.
Cornerstone acquires Clustree to incorporate AI into its learning solutions. As a result, Cornerstone’s Learning Suite displays deep knowledge of employee skills, which can inform promotions or job changes, areas for learning, and recruiting decisions.