Anyone who manages HR either as part of a team or on their own knows full well how complicated it can get if you don't handle it deftly. One of the major reasons this can be such a balancing act is the number of parties involved in a particular human capital management situation. You start with employees and their employers, of course, and then you may have as many as four different vendors and organizations covering various bases: payroll services vendors, benefits brokers, third-party administrators and HR technology providers. That's a lot of wires being crossed.
Choosing a single provider for all of your HCM needs can make the whole process that much easier."
It's certainly possible to stay on top of your business's HCM responsibilities in such a manner – but if you don't have to, do you particularly want to? The answer to that question, for most HR department leaders, is likely a firm "no." PeopleStrategy can serve as a one-stop shop for all of your HCM needs with our bundled solution offering. Our bundled solution includes our agile eHCM platform, payroll and benefits administration services and the benefits packages we can offer as a fully licensed benefits brokerage.
Let's take a look at some of the distinct advantages you can enjoy by allowing PeopleStrategy to serve as the sole provider for all of your HCM service requirements:
Increased savings and efficiency
Paying for a single provider to be your sole HCM and benefits vendor is all but guaranteed to create bottom-line savings. It's a simple matter of mathematics. Instead of dealing with a separate insurance agency, HCM technology provider and benefits broker, a bundled solution like PeopleStrategy affords you the opportunity to interact with one partner for all of these services. As such you won't have to face the unpredictability of price fluctuations that can occur among separate vendors, and the stability of a single arrangement can help cut down on total benefits spending. Plus, you'll gain access to a hire-to-retire HR platform for less than you currently pay your payroll provider
But at the end of the day, the increase in your HCM operations' efficiency may be even more valuable than any reduction of bottom-line spend. Managers, HR department staff and employees throughout all segments of the business will have easy access to intuitive self-service tools whenever they need them through the PeopleStrategy eHCM solution. This helps ensure that workers don't allocate too much of their time to check up on their benefits and pay or complete routine timekeeping tasks.
On the other end of the spectrum, HR has more time and resources to focus on strategic personnel initiatives that ultimately mean more to the success of the company, like one-on-one or group feedback sessions and continuous learning programs for workers' development. HR Technologist identified this ability to zero in on meaningful HR operations as a key benefit realized by the automation of rote administrative responsibilities.
Simplified regulatory compliance
Remaining in sync with the federal, state or local government regulations that affect your organization isn't always simple, and if you manage HCM processes through arrangements with several different providers, you're saddled with that much more potential uncertainty. After all, any compliance failures of theirs can easily affect you.
Because PeopleStrategy is a fully licensed benefits broker, the side of our business centered around insurance sales adheres to all applicable legal guidelines and standards of ethical practice, so you've got nothing to worry about in that department. Meanwhile, on the technology side of our bundled solution, you can rest assured that our comprehensive eHCM platform will properly automate the payroll, recruiting and onboarding, timekeeping, benefits management and work authorization aspects of HR according to the standards of the city and state in which your organization operates.
One provider means one commitment to accountability
Choosing a single vendor to provide a platform for overseeing all of your HCM functions and sell you benefits packages as your broker of record is, undoubtedly, a matter of trust. At PeopleStrategy, we understand this fully and aim to ensure our customers that they're in reliable hands when they enlist us to serve any and all HR needs.
Because PeopleStrategy serves as the single point of contact for the customers who choose our bundled solution, there's no passing the buck on our part – no dodging of responsibility for any problems that might crop up. Whether it's benefits administration, an issue with a particular coverage type, a technical glitch or anything else, we manage your whole HCM package and can address adverse issues faster than what you'd experience dealing with multiple vendors. Benefits management and oversight is what we know backward and forward, and through the PeopleStrategy bundled solution, we offer that expertise and excellence to you.