Why FSA Administration Software is Worth the Investment – Well worth the Money
Employees today expect as much from their employer as the employer expects from them. While salary is still vital, ninety percent of workers rank their benefits as just as important to them as their pay. To attract the best employees and keep them, you need to offer great benefits. One that you may be overlooking is an FSA. By giving your employees a tax free account to offset medical costs, you'll be boosting their morale greatly. But FSA administration can be one more burden on your HR department's shoulders. With FSA administration software from Unicorn HRO, you can avoid this problem almost entirely. There are several benefits from FSA administration software that make it worth your money, and looking at a few of them will help you understand why FSA administration software is as important as the FSA itself.
First of all, you give your employees control over their own funds when you implement Unicorn HRO's FSA administration software. They can log in to their own personal account and handle most FSA administration tasks on their own. From changing the amount they want deducted from their paychecks to simply checking in to see how much money they have in their FSA, providing your employees with FSA administration tools allows them to take control of their own accounts. In short, FSA administration software goes a long way towards boosting their morale and helps them effectively manage their funds.
Next, with FSA administration software you'll simplify the lives of your HR department. Without FSA administration programs they'll face a regular stream of inquiries from other workers who want to modify their accounts or check its balance. With FSA administration software your HR department will barely have to lift a finger when it comes to FSA administration, other than regular maintenance and upkeep. This leaves them free to focus on more pressing issues that confront them like employee retention or training strategies and also boosts their overall productivity and morale.
Many companies today already utilize some form of benefits administration software, and FSA administration can likely be added just as easily. It will take your employees only a short time to grasp the basic concepts behind using FSA administration software, and once they get the hang of it your workplace productivity will likely increase as well. Since many FSA administration programs and tasks can be handled from anywhere, your workers will be free to handle their FSA administration from home and can focus on their work while at the workplace.
In short, using FSA administration systems will allow your employees to manage their own FSA administration duties without putting a strain on your HR department. You'll experience increased productivity throughout the workplace and notice improved morale since employees not only benefit from their FSAs but also have full control over them through the FSA administration software. In most cases the investment is minimal and many times can be added to an already existing benefits management system. To give your employees all that they deserve, utilizing FSA administration software is a smart investment that will be well worth every penny.