Onboarding New Employees

Employee onboarding automation is about creating a structured experience that guides your new hires through every step of your onboarding program—without any manual effort. It helps your HR department save time, while positively impacting the first impression new talents have of your organization. With such increased benefits, a lot of recruit’s view automation as a more personalized, bona fide option for getting help with their issues. Most onboarding automation will serve to automatically file and update documents, connect new hires with current employees, add new hires to onboarding workflows, create accounts for users, track the onboarding process, and much more. See how we helped a Pharmaceutical Operations team with their onboarding automation.

Employee Benefit Plan Enrollment & Benefit Changes

Comprehensive benefits automation seeks to provide a better solution for managing all aspects of benefits enrollment. This typically comes in the form of employee self-service portals, automated data synchronization with insurance providers, robust reporting and analytics, compliance tracking, and integrations with payroll systems.

New Hire Reporting

Automation of new hire reporting will help HR to monitory new hire events in payroll, generate new hire reports, and automatically deliver notices of new hires to the respective local and state authorities; avoiding any non-compliance risks in the process.

Calculating Premiums & Contributions

Automated systems will analyze individuals & groups based on the numerous factors that influence insurance premiums and compare to readily available internal data to provide readily available estimates for premiums and contributions.

Managing Paid Time Off

Platform automation can support an HR team to properly manage PTO and leaves the right way, utilizing intuitive technology to have employees request time off, manage paperwork, check on their status, and much more.

Medical Bill Reconciliation

New technology solutions can help to automatically reconcile unapplied cash to reduce risk, gain visibility and control into payment status, properly account for all cash and payments, and free up internal resources to focus on other value adding activities

Reducing HR Workload

Automation plays a pivotal role in mitigating the workload of HR departments by eliminating the need for extensive paperwork and manual data entry. This streamlined approach allows HR staff to focus on more strategic and value-added tasks. Moreover, automation provides employees with online access to manage their benefits, reducing the need for HR intervention. So, what does this look like? According to recent research, employee self-enrollment in benefits online costs approximately $22, compared to around $110 when HR staff manually enroll employees. This results in roughly 80% savings per employee, primarily due to the elimination of costs related to manual enrollment. Not to mention that expedited processes due to the use of automation and according to CFO Magazine, it can lead to time savings of up to 15% for HR staff. Explore more ways we help organizations work smarter, faster and people-first with the power of automation here.

Cost Savings

The cost of benefit administration can be significantly reduced through automation. With lower HR workload levels and increased time savings, organizations can allocate resources more efficiently. This cost reduction is especially vital as healthcare costs continue to rise, and organizations seek ways to manage their budgets effectively.

Mitigating Compliance Risks

Staying compliant with the ever-changing regulatory landscape, particularly in healthcare, is a challenging and costly aspect of business operations. According to a 2022 article from ESIS Inc., non-compliance can lead to substantial financial penalties, with a single ADA noncompliance case costing an average of $500,000. Automation provides a proactive approach to compliance management, reducing the risk of non-compliance and saving both time and money. In fact, manual employee benefit administration is prone to errors, with 65% of payroll files containing at least one error or warning (The Standard, 2022). Automation significantly reduces these errors, improving accuracy and compliance. Learn more about how we can help your organiation take control of risk with our all-in-one GRC solution powered by ServiceNow.

Enhanced Employee Satisfaction

Automation holistically enhances employee satisfaction by increasing productivity; boosting collaboration; and providing employees with more time to deepen relationships and connections with customers, take on new projects, and learn new skills. .In a recent Harvard Business Review survey, it was reported that more than 90% of workers surveyed indicated that automation solutions increased their productivity and boosted their collaboration across teams.

Market Valuation

In 2021, the global healthcare automation market was valued at $37.8 billion. Projections indicate that it will reach approximately $91.6 billion by 2030, with a Compound Annual Growth Rate (CAGR) of 10.33% from 2022 to 2030. This growth signifies the increasing importance of automation in various industries.

Regional Dominance

In 2021, North America accounted for 41% of the revenue share in the automation market. This suggests that the adoption of automation is particularly strong in this region, driving market growth.

Cost Reduction

According to Dignity Health, the healthcare industry sector reduced administrative expenses by $122 billion in 2021 due to automation. There’s a potential for an additional $16 billion in savings by fully automating routine processes, benefiting not only healthcare but also benefit administration.