Time & Pay partner EverythingBenefits Provides Strategies to Reduce Benefits Costs
To help employers get control of their benefits costs, EverythingBenefits, a provider of comprehensive, next-generation benefit technology solutions and services, recently released a new e-book, titled “Get Your Escalating Benefits Costs Under Control”. The free twelve-page e-book explains why there is a growing need for employers to work to reduce the nation’s rising employee benefits costs, outlines several methods organizations can use to offer cost-effective, meaningful benefits to employees, using a variety of cost-management and technology-based solutions.
With unemployment at 3.8%, an 18 year low, employers are under more pressure to offer more competitive benefits as part of greater overall compensation packages in order to retain and attract top talent. In addition, 7.9% of employees indicated that they’d prefer new or additional benefits over pay increases, according to Glassdoor. This increase in demand and competition led to one-third of companies increasing their benefits offerings in the past 12 months. In an attempt to reduce the rising cost of benefits, employers are increasingly turning to solutions such as increased employee contributions, or utilizing technology to automate their benefits administration.
Automating benefits administration is a strategy that Time & Pay can help you achieve through their electronic and cloud-based systems. Click here to learn more about this process, and how it could help save you time and money.
Other strategies include:
- Implementing a Wellness Program
- Analyze Your Benefits Costs
- Reconcile Your Benefits Costs
“Benefits as a portion of overall compensation has grown rapidly in recent years, and employers are facing unique challenges when trying to mitigate administration costs,” commented Rachel Lyubovitzky, CEO at EverythingBenefits. “Our latest e-book highlights important industry trends related to benefits spending, shifting market demands, and how to best meet these challenges.”
Click here for more information and to download EverythingBenefits’ new e-book, Get Your Escalating Benefits Costs Under Control.
About Time & Pay:
Time & Pay is a professional payroll service provider located in Johnson City, TN. We service businesses of all sizes and types throughout the United States. Founded in 1992, Time & Pay provides businesses with complete payroll services, guaranteed payroll tax compliance, automated time and attendance systems and services, pay-as-you-go workers comp, human resource management systems and services, ACA compliance and more. We provide our customers with the cost effective tools you need to better manage your payroll, your employees and your business. Time & Pay’s services guarantee you will save money, time and aggravation and we back them up with the customer service you expect and deserve. Contact Us today to learn why business owners throughout the country are saying:
“Time & Pay! Why would you do payroll and timekeeping any other way?”
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