hr technology key insights for mid-market...

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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


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….


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).


5 5 KEY INSIGHTS


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


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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


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?


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


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


11 11 KEY INSIGHTS


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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


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.


15 15 HOW TO HAVE SUCCESS WITH TECHNOLOGY


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.


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hr technology key insights for mid-market...

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