Post on 21-Sep-2020
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Your Resource for HR Technology
Benefit Technology Resources LLC
HR Technology Key Insights for Mid-Market Employers
Benefit Technology Resources LLC Confidential & Proprietary Information – Not for Distribution
2 2 TODAY’S AGENDA
1 Who is BTR
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Technology Trends 4
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Challenges Facing HR Today
ACA Reporting & Preparation How to Have Success with Technology
Benefits of Leveraging Technology
Benefit Technology Resources LLC Confidential & Proprietary Information – Not for Distribution
3 3 WHO IS BTR?
• Benefit Technology Resources (BTR) is the largest mid-market HR technology
consulting firm.
• Combined, our team has over 300 years experience in HR Technology.
• We are independent – provider agnostic (not tied to any providers).
• We specialize in HR technologies that include:
HRIS – Human Resource Information Systems
Benefits Administration
Payroll Administration
Time Keeping
Performance Management
Recruiting
Talent Management
Healthcare Reform Compliance
And More….
Benefit Technology Resources LLC Confidential & Proprietary Information – Not for Distribution
4 4 CHALLENGES FACING HR TODAY
• Rising costs that impact HR (i.e. healthcare, compliance, manual
processes, etc.)
• Data integrity: Entering the same data in multiple places
(benefits, payroll, timekeeping, HRIS and carrier websites).
• Lack of business intelligence/combined reporting.
• Lots of systems. Lots of choices. 300+ in the market today.
• Challenges with HR technology provider: Proper Selection,
Implementation and Execution.
• Compliance with healthcare reform reporting (i.e.,
1095C/1094C and variable hour tracking).
Benefit Technology Resources LLC Confidential & Proprietary Information – Not for Distribution
5 5 KEY INSIGHTS
Benefit Technology Resources LLC Confidential & Proprietary Information – Not for Distribution
6 6 ACA - EMPLOYERS NEED TOOLS TO COMPLY
• Tracking hours and eligibility from multiple data sources
• Manage scheduling to control eligibility
• Offering credible and affordable coverage
• Tracking coverage offers (and declinations) by month
• De-enrolling employees on a timely basis (based on your measurement and stability periods)
• Notification requirements
• Year End Forms and Reporting
Benefit Technology Resources LLC Confidential & Proprietary Information – Not for Distribution
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Payroll
Performance Management
Time Keeping
HRIS
Recruitment/ Applicant Tracking
Benefits
Admin
HOW DO EMPLOYERS TRACK & REPORT?
Employee Data, Affordability Safe Harbor
ALE Determination, Hours worked, Full Time Equivalent Status
Eligibility, Benefit Status, Dependent Information, Waive Reasons, Coverage Begin dates, end dates
Benefit Technology Resources LLC Confidential & Proprietary Information – Not for Distribution
8 8 ACA WHAT TO DO NOW?
• How has it gone so far with your 2015 reporting?
• What options do you have to improve reporting for 2016?
• Payroll Provider?
• Benefits Administration Solution – still on paper?
• Stand Alone ACA Tool?
Benefit Technology Resources LLC Confidential & Proprietary Information – Not for Distribution
9 9 ACA OUTLOOK
ACA Service Providers: • Slow to respond to clients
• Data and processes are fragmented
• Not all are determining the codes for lines 14 and 16
• Over-commit and under-deliver
• Challenged by continue changes by IRS
• Changing their fees
Benefit Technology Resources LLC Confidential & Proprietary Information – Not for Distribution
10 10 ACA OUTLOOK
General Observations:
• The IRS will be overwhelmed (new data testing system)
• Capacity will continue to be stretched
• Some payroll providers are requiring additional modules
• The pool of viable providers will shrink
• Some will fail and leave the market
• Others will be purchased/acquired
Benefit Technology Resources LLC Confidential & Proprietary Information – Not for Distribution
11 11 KEY INSIGHTS
Benefit Technology Resources LLC Confidential & Proprietary Information – Not for Distribution
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Lots of New Technology in the market
• New Providers in the HR Technology Space
• Global solutions for global employees
• Algorithms to make big data useful (think personal Facebooks updates lending to recruiting efforts)
• Employee Engagement software
• Performance Management
• New User Interface rollouts
• Mobile capabilities
TECHNOLOGY IN TODAY’S MARKET
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• High Activity Levels- employers are moving to more robust technology • HR Technology is finally impacting the bottom line
• ACA compliance has been painful and can be costly
• Based on studies and research Employers want:
Bottom Line = Employers Want MORE Automation!
TECHNOLOGY IN TODAY’S MARKET
• Paperless Onboarding • Online Benefits Administration • HRIS Compliance and Tracking • Mobile Capabilities
Benefit Technology Resources LLC Confidential & Proprietary Information – Not for Distribution
14 14 BENEFITS OF LEVERAGING TECHNOLOGY
Healthcare Reform Compliance – reduce the risk of potential fines,
automate the paper burden.
Total savings of $19.07 PEPM can be realized through the accuracy and
efficiency of complete automation (bswift benchmark study surrounding billing)
Reduce errors and omissions – 88% of spreadsheet documents contain
errors. (University of Hawaii analysis)
Reduce multiple points of entry (payroll, HR, timekeeping and carrier
websites).
Reduce paper with Employee and Manager self-service (i.e. onboarding
and workflows).
Streamline and centralize communication campaigns.
Benefit Technology Resources LLC Confidential & Proprietary Information – Not for Distribution
15 15 HOW TO HAVE SUCCESS WITH TECHNOLOGY
Benefit Technology Resources LLC Confidential & Proprietary Information – Not for Distribution
16 16 HOW TO HAVE SUCCESS WITH TECHNOLOGY
• Consult with Strategic Partners for assistance – this is a big expenditure
• Do your own discovery before jumping into a project
• Determine what success looks like at the end – Set Proper Expectations!
• Include all stakeholders in key discussions from the beginning
• Tweak things along the way and update the timeline as needed
• Don’t rush – be sure you have given yourselves a reasonable timeline and allow for testing and more testing
• TEST TEST TEST
• Measure results to determine if it was a successful implementation.
Benefit Technology Resources LLC Confidential & Proprietary Information – Not for Distribution
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Thank You!
We are here to help!