Managing your Salaried Workforce

HCM systems need to not only be effective at managing your hourly workforce, but your salaried workforce as well.   Your technology solution should automate managing your compliance risk and financial exposure.

Minimize labor compliance risk:  FLSA, FMLA and ACA apply across your entire workforce.   Technology should help you create a culture of compliance and accountability. 

Manage accrued benefits:  you need to track accruals for your salaried employees, not just your hourly employees.   Automating time off requests and tracking the usage of accrued benefits can help you control accrued benefits liabilities when employees leave your organization.

Automation is the key:   managing employees and assuring regulatory compliance is difficult.  Make sure your HCM solution addresses the complexities of salaried workforce management.

Mosaic’s Workforce One HCM system is a highly customizable platform that allows you to accomplish all those goals.  When you are ready to learn more about how your organization can benefit from a full HCM solution, contact us at info@mosaices.com or 877-749-1975.

The Growing Cost of Ever-Increasing Benefits Administration Complexity

Health insurance premiums are expected to continue to increase:

• 77% of employers expect the Affordable Care Act will increase their company's health care costs dramatically
• 2017 premium increases are projected to be the largest in recent history (InternationalFoundation Survey)

Benefits administration complexities and increasing premiums are elevating the risk that your benefits cost will rise faster than the rate of overall premium growth.  To avoid this risk, you must carefully manage your employee benefits.  

Inaccurate or missed premium deductions are expensive, but fixable.  Understanding the causes of increasing benefits cost is half the battle.  Some of the most common causes include:  

• Competing payroll timetables vs. carrier cut-off dates and retroactive limits
• Challenges recovering lost premium dollars after the fact
• On-going age-banded rate adjustments
• Carrier customer service challenges (poor communication and follow-up)
• Numerous carrier invoice delivery methods (electronic and paper), including confusing self-bill invoices
• Inefficient, outdated, and inaccurate carrier technologies
• Matching plan premiums with employee pre- and post-tax deductions
• Competing demands of payroll and carrier invoice deadlines
• Post open-enrollment and renewal invoice confusion

Mosaic HR Services delivers customized solutions that save you time, increase accuracy, and manage your premium costs.  Our benefits administration solutions are designed to complement your benefit administration strategy. To learn more and to see how Mosaic HR Services' benefits administration service can help, visit www.mosaices.com/mosaic-hr or talk with an expert at (303) 645-4270.  

5 Reasons to Outsource Benefits Administration Tasks

Employee benefits administration outsourcing is becoming a large and growing part of an employer’s overall business strategy.  Turning benefits administration from a back office function over to a trusted administrator can promote efficiency, increase compliance, and improve overall employee satisfaction.  If not done well, employees may feel the company doesn’t care about them and that can put a company at risk.

The following are 5 important reasons to outsource benefit administration responsibilities:

1. Right-sizes your staff. Outsourcing benefits administration can free up HR resources.  Existing HR personnel can now focus on more strategic activities, such as shortening response time for employee concerns, increasing employee engagement and retention, and recruiting top talent. 

2. Makes expertise affordable. A benefits outsourcing company can give you access to a superior level of talent and knowledge without taking on the expense of an in-house benefits expert.  Hiring in-house benefits expertise doesn’t come cheap and is often out of reach for small to medium sized businesses. 

3. Boosts efficiency. A great employee benefits administration outsourcing company can help employers streamline their processes and find ways to reduce over and underpayment of premiums for insurance plans and other programs. They can also help employers create effective employee benefit communications. 

4. Reduces exposure. Outsourcing benefits administration can reduce liability in the case of mistakes.  It also protects companies by implementing ‘objective checks and balances’ between management and those who make the day to day decisions about terminations.

5. Upgrading technology. Working with an outsourcing company gives organizations the opportunity to upgrade their technology without incurring big investments in IT infrastructure.  Consumer attitudes toward technology have become far more sophisticated in recent years, and those expectations extend to how workplace benefits are administered.  Employees expect well-designed online benefit enrollment systems that they can access from anywhere, 24/7.  Building such a site internally -- with the security headaches involved when managing sensitive healthcare data -- is a massive undertaking.  A benefits administration company has already done that work in advance.  The best companies can even tailor the site with your branding and messages.

Health and welfare benefits is one of the largest and fastest growing expenses incurred by organizations today.  From open enrollments, onboarding new benefited employees, managing payroll benefits deductions up to and including COBRA; outsourcing benefit administration tasks is increasingly becoming a compelling and viable strategy.

For more information regarding MosaicHR’s benefits administration outsourcing, contact us at (303) 645-4270 or visit www.mosaices.com.