What do you do if your employee benefits and compensation system needs a technological upgrade?

Before deciding and implementing a technology platform, it is essential to list down your requirements, both current and futuristic. This will require you to have a Compensation and benefits strategy roadmap. Assess platforms that have a similar development roadmap and choose wisely, failing which frequent technology upgrades and implementations will be inevitable which will burn budgets.

Identify Pain Points:?Start by pinpointing the specific issues with your current system. Is it outdated, error-prone, time-consuming to manage, or difficult for employees to access? Consider Employee Needs:?Think about how a new system could benefit your employees. Would it offer them self-service options, personalized recommendations, or easier access to information? Explore Human Capital Management (HCM) systems that offer integrated modules for compensation and benefits administration. Benefits Administration Platforms:?Research standalone benefits administration platforms that specialize in managing enrollment, claims, and communication.

It is important to plan the changeover at a time when either there are no other major events on-going like an appraisal cycle or compensation revision cycle etc. If you are planning to upgrade the compensation and benefits policy or practices then it is best to implement these during the technology upgrade to achieve sustainable results.

Select the provider who has a development roadmap that aligns with your requirements in the future. Avoid getting blinded just by recommendations and references, test the technology yourself and have documented agreements on the futuristic requirements.

Another important element is to agree on service standards, timelines and FTR (First Time Resolution) as metrics in the service agreement, preferably decide on penalties if service standards go south. This will ensure higher assurance of employees on the product platform and increase usage while receiving quality service.

Frequent reviews is required post implementation to assess user feedback, resolve queries, issues and bugs. Go back to users and check for their feedback regularly and build a repository of feedback and issues to build a book of knowledge for future users and support teams to refer to for improving usage and services.