Increase Your ROI with an Integrated HR, Payroll & Benefits Management System
Reduce Administrative Costs While Increasing Efficiency with a Single-Entry, Online HR Solution
Deciding to go with a web-based HRMS isn't just about streamlining your payroll, HR and benefits processes, giving your employees self-service access and eliminating manual entry and duplication in enrollment paperwork. It's also about reducing administrative costs and keeping your organization compliant.
Check Out the ROI Statistics for a Solution that Integrates HR and Benefits Administration
- According to a study by The Cedar Group, which has been studying self-service technology for over a decade, implementation of employee self-service reduces costs by $9.00 per employee per month by eliminating manual, paper-intensive processes.
- According to Risk & Insurance, manual administrative and billing processes can cause a 7% error in premium billing. It is estimated that $5.00 - $15.00 per employee per month can be saved with more accurate insurance premium/claim payment.
- According to CFO.com, the average cost for an HR staff to manually enroll an employee in benefits is $109.48; the average cost for an employee to enroll online via self-service is $21.79 - that's an 80% savings.
CFO.com also compared the cost of other administrative HR tasks when they are manually handled by your HR staff versus through online employee self-service. Check out the savings!
|HR Task||Cost When Handled Manually by HR Staff||Cost Through Online
|Enroll in Benefits||$109.48||$21.79||80%|
|Change Contact Info||$12.86||$3.39||74%|
|Enroll in Training||$17.77||$4.87||73%|
|Approve a Promotion||$48.64||$18.26||71%|
|Create Job Requisition||$36.89||$11.11||70%|
|Apply for a Job||$21.31||$11.85||44%|
How Can Your Organization Reduce Administrative Costs for Traditional HR Tasks?
Your organization can save 44%-80% when you give your employees access to online self-service technology for enrolling in benefits, changing their personal information and signing up for training classes. In addition to monetary ROI, implementing online employee self-service at your company also provides these valuable results...
- Reduction in benefits related calls to your HR staff
- Shorter benefits enrollment timelines
- Reduction in enrollment transaction costs
- Elimination of duplicate data entry between HR, payroll & benefits
- Elimination or reduction of paper enrollment packages
- Reduction in billing errors since data is transferred online to benefits carriers