BambooHR launched Benefits Administration, a solution meant to simplify the benefits enrollment process. Benefits Administration integrates employee benefits enrollment into the BambooHR platform, providing a faster and more convenient experience for all users.
Benefits Administration is designed to save HR time and ensure accuracy in managing employee benefits, BambooHR said. The module works seamlessly with HRIS and payroll as a unified platform for both administrators and employees, and acting as one-stop for HR needs. As employee benefits change and companies grow, BambooHR said it aims to help ensure that managing employee data is as streamlined as possible.
The solution also helps customers efficiently organize benefit plans, create unique enrollment windows, promote employee self-enrollment and review elections all in one place. With benefits and payroll built into the BambooHR platform, customers can offer their employees enhanced visibility around approved benefits elections.
In addition, the solution is “broker friendly,” the company said, allowing users to provide individual brokers with necessary plan information more easily.
The interface includes:
- Election Submission & Approvals: Employees can view benefit plans and make their selections directly in BambooHR.
- Open Enrollment, New Hires & QLEs: For new hires, annual enrollment or a qualifying life event, HR administrators can create an enrollment window in BambooHR. Every employee entry is automatically saved to their record.
- Reporting & Data Review: An Enrollment Window Election Summary and Benefit Election Changes reports let users review benefits data and export data for the broker or benefit providers.
- Carrier Connections: Offers seamless connections to top benefits carriers, allowing HR to send employee enrollment data directly to providers, eliminating double entry.
- Seamless Payroll Runs: With the combination of Benefits Administration and Payroll, benefits data is synced for payroll runs.
- Broker-Friendly Benefits System: Benefits Administration simplifies managing and collaborating on benefits.
As the product was announced, Brian Crofts, BambooHR’s chief product officer, noted that 82% of employees consider company-offered perks and benefits to be the most important consideration when they’re looking at a potential employer. Benefits Administration, he said, is meant to help customers “thrive in a competitive job market by making benefits easier to select and review for a more efficient process.”