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Business in the Modern World Why Investing in Your Employees Could Be the Key to Your Company’s Success


 

Benefits administration software

Employers have an obligation to provide for their employees; this is becoming more clear as the digital age places a scrutinizing eye on businesses. Those businesses that fail to provide for their employees not only risk losing their workers to competition that will offer employee benefits, they also risk breaking the law in some cases.

The Rights of Employees

Despite what some businesses may think, employees are human beings with rights. The Patient Protection and Affordable Care Act requires that businesses offer health benefits to all employees when their staff equals at least 50 full-time employees. The Family and Medical Leave Act (FMLA) likewise protects employees by giving them up to 12 weeks of job-protected, unpaid leave during a one-year period for the following circumstances: the birth of a child, care for immediate family including a spouse, or self-care for a serious medical condition. Although businesses are expected to act in accordance with these laws, many businesses go above and beyond when it comes to employee benefits.

Employee Benefits in the Modern World

Nearly half of all employees say that their benefits are one of the primary reasons why they stay with their company. Statistics show that up to 98% of full-time employees across the nation have access to paid sick leave, although only 59% of small businesses offer paid sick leave to their full-time employees. Paid leave is the most commonly provided employee benefit this includes paid holidays and vacation time, which are both available to 77% of the nation’s workforce.

Up-to-Date Human Resources Software Solutions

Modern HR benefits management software can help employers who struggle with managing employee benefits. Over half of all companies plan on upgrading their HR software within the next year and a half: only 13% of organizations have a single HR system; many companies have three or four different HR applications to provide more comprehensive benefits for employees. Investing in benefits management software is just one way that businesses are investing in their employees. It is a fact: employees that believe their company is truly looking out for them are happier and thus more productive than companies that fail to provide for their employees — it just makes sense.

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