Before moving the purchasing any benefits software, you’ll want to spend some time considering which features are absolutely necessary and which ones you don’t need. While it might be easy to simply skim a selection’s list of tools and make a decision based on that, understanding the features will help you make the best choice. Below are some good pointers.

Common Features

For most benefits administrators, a fitting application tends to include a few essential functions. Likely the most important is keeping track of different plans, from health and dental insurance to retirement plans. Benefits software should be able to save and manage several accounts at once. Since the benefits administrator needs to be careful about what the business pays its employee in recompense, notices about plan updates and errors also make a difference. As an administrator, you can also expect many programs to boast an analysis feature for scans and generating reports on employee accounts. As for employee-facing features, plan enrollment statuses and compensation values are typically provided. You can expect many software packages to let employees edit enrollment in cases of critical life events such as marriage or the birth of a child.

Top-Level Features

If you’re in the market for even more advanced features, there are several that may interest you. Some benefits administration systems provide users with chart and diagram rendering for easier understanding of plans and information; exporting data into spreadsheets can also be a great time-saver. Others feature more specific modules, like health insurance guidance, to ascertain employee compliance and coordinate application completion. Enrollment management itself is another helpful feature.

Specialization

It’s common to see employee benefits software accept integrations to further personalize management, though this naturally varies based on the software and its developers. You may come across open-source software that freely allows recoding, or similarly flexible programs that you can mold to address your business’s operation. While they may be secondary or tertiary to benefits administration, it’s never a bad idea to look for features related specifically to your industry—some software vendors have experience in those fields and can deliver on specialized tasks that would otherwise be neglected. A lot of employee benefits programs come as part of a larger HR package, but your business can benefit from a tailored experience nonetheless.

What to Avoid

It’s also important to be aware of weak software features as you do your research, since nobody wants to waste valuable effort on programs that won’t keep their employees happy. Here are a few things to avoid:

End-of-Life Software: The effects of good management, for both administrators and employees, could be short-lived with this software. The developers have ceased updates and improvements, so what’s available is what you get, including any bugs or glitches. Support is no longer available. Though the software may be revived or rebooted by a buyout, it’s a good idea to wait and see what happens.

Brand-New Software: Though it sounds counter-intuitive, cutting-edge software that has yet to prove itself in the market could end up costing you. Should the developer implement changes that don’t bode well for your business or even sell their app, your risk won’t be rewarded.

Software without Safeguards: You know employee benefits come with many rules and regulations. If you spot otherwise interesting software with poor security, privacy/insurance non-compliance, or missing certifications, look elsewhere.

Missing Information: A software provider should be forthcoming about what the software can do. While it’s possible to find out about a product’s capabilities elsewhere, you shouldn’t have to spend a lot of time digging for information on what the program does and doesn’t provide.

Selecting the Best Benefits Administration Software

With these factors in mind, it still might not be clear how to make the selection. Below are a few tips for settling on the best benefits administration software for your business.

Identify Your Needs: Think about what features would best serve your business, whether that’s integration with an existing HR suite or simply “core” functions, as you go through your options. Give particular attention to what’s hurting your business, because while benefits administration software can’t work miracles, one that addresses your business’s specific problems will help everyone involved. Don’t forget your budget, either.

Read and Review: Watch the software in action, if you can, and see what actual users had to say about it. Focus on those reviewers from similar organizations who give detailed and nuanced accounts of their experiences. Should you not have any peers who can assist, software with posted videos and personal accounts at least gives you a better look at how it may work in your system.

Try Before You Buy: To truly get a grasp of the proposed benefits, see if the vendor offer a free trial or demo. Once you and your HR team have had hands-on experience with the software, you’ll be better equipped to understand if it’ll be a good fit.

Consider Accessibility: What will it take to integrate the software into your business’s system? Consider how a given program will install and how accessible it is, such as whether it’s web-based or will take days to totally deploy. Also ask whether training is offered, how long it could take, or if it’s comprehensive enough to be a long-term solution. Whether employees can easily register their data and use the service is likewise important.

Selecting the Best Benefits Administration Tool

The criteria above should help you narrow your choices down. While different employee benefits administration programs may seem to all have similar abilities, careful selection will help you identify the right package for your company’s sake. Be deliberate, learn what’s necessary, and find the tool that’s the best fit for your business. Once you’ve found a winner, enjoy the efficiency and ease to come.

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