Better Results. Less Money.
In today’s technology-driven world, the question is not whether or not you’re going to use an online HR/benefits system, but when and for how much. Not only will a bswift solution generate substantial savings, but we’ll do it better and we’ll do it for less.
Our state-of-the-art, highly configurable, “on demand” software will provide you with a higher return on investment than traditional software that requires costly development, customization and installation.
Over half of all U.S. companies with more than 500 employees have already implemented an HR/benefits system with a benefits portal and employee self-service. Companies with 50 to 500 employees are rapidly implementing these systems as well.
Reduced Administrative Costs
Consider the wasted time and money spent in manually processing HR and benefit transactions. According to CFO.com, the average cost for your HR staff to manually enroll an employee in benefits is $109.48; the average cost for an employee to enroll online via self-service is $21.79 – that’s an 80% savings.
Here are some more manual vs. employee self-serve savings according to CFO.com:
|Task||Manual by HR Staff||Online Employee Self-Service||Savings|
|Enroll in Benefit||$109.48||$27.79||80%|
|Change Contact Info||$12.86||$3.39||74%|
|Enroll in Training||$17.77||$4.87||73%|
|Approve a Promotion||$48.64||$18.26||71%|
|Create Job Requisition||$36.89||$11.11||70%|
|Apply for Job||$22.31||$11.85||44%|
- According to a study by The Cedar Group, implementation of employee self-service reduces costs by $9.00 per employee per month (pepm) by eliminating manual, paper-intensive processes.
- According to Towers Perrin, online employee self-service results in a 15% time savings by HR staff.
Reduced Overpayment of Insurance Premiums and/or Claims
- $5 to $15 pepm can be saved with more accurate insurance premium/claim payment
- Manual administrative and billing processes can cause a 7% error in premium billing according to Risk & Insurance (2002)
- $5.00 pepm is based on a conservative 1% error on annual health and dental premiums of $6,000 per employee