A Great Partnership – Payroll & Benefits Integration

By Autumn Jones
Concept H.R.

The common ground of employee data needed between administration of payroll and benefits makes integration a great partnership.  Having two separate vendors or resources to process payroll and benefits can be quite a task for business owners to accomplish.  The fact that the owner has to be the mediator between the two vendors can cause slower processing of adjustments, more manual work, delays in communication, and an inability to ensure that each are operating in a timely, efficient way.

Just thinking about the future or current status of benefits options for business owners can bring enough headaches but what about the health and well-being of our families and employees?  What will the financial impact be on the bottom line?  How can businesses move forward to plan for the future?  How can they survive and continue to attract quality employees amid the repeal, repair and replacement of our healthcare benefits?  How do businesses trudge through this uncertainty and still affectively manage their payroll and benefits needs in the most productive way?

Benefits administrators have spent countless hours reading, studying, attending seminars and webinars as part of their efforts to learn to effectively manage the administration and compliance regulations associated with the Affordable Care Act (ACA). Managing the processes related to identifying the employees who are eligible, tracking their time, monitoring turnover and preparing reports that are required in order to comply with the ACA can be very cumbersome. Businesses have had to invest a lot of time, manpower and money into obtaining or creating systems and processes that make it possible to manage and administer the data. Not to mention complying with the reporting requirements.

With so many moving parts and pieces, how do businesses stay ahead of the curve and remain compliant?  Integrating payroll and benefits administration within one management system can provide much of the support necessary to move a business from the inefficient traditional model.  By integrating payroll and benefits administration, a business can take advantage of centralized data.  This will then enable the owner to experience the freedom to focus on their specific industry to build a stronger business dynamic.

Although businesses have a wide variety of payroll needs, using one management system an organization can improve efficiencies in regards to market review, cobra administration, payroll deduction adjustments, and explanation of benefits.  By outsourcing payroll, businesses can not only streamline but also optimize their payroll process through time entry integration, a secure online access, a paperless environment, new hire reporting, preparation of quarterly tax returns, just to name a few.  By combining benefits administration along with outsourced payroll, businesses also gain access to systems that use the payroll information to automate employee eligibility, minimize employer benefits costs, and take a proactive approach to maintain adherence to federal regulations.

The combination of payroll and benefits administration services can save time and money by providing a “one stop shop” for both payroll and benefits needs.  This creates a better overall efficiency for all moving parts associated with each.  Connecting payroll and benefits administration through one resource will relieve the strain on your business management and provide you with the opportunity to increase your company’s bottom line through growth.  Payroll and benefits integration – it’s a great partnership.

Autumn Jones is a licensed insurance agent with a over 15 years of experience in human resources and benefits administration  She has supported hundreds of clients for Concept H.R. for over nine years.  Concept H.R. has solutions to many common human resource issues including payroll, benefits, 401(k) and risk management administration unique to the dynamics of a diverse workforce.  You can find the expertise needed to maintain compliance with employment labor laws and regulations on a federal, state, and local level, all given with the highest personal customized care.