Managing Benefit Accruals
In today's competitive market, the importance of benefits cannot be overstated. Benefits affect the morale of employees, the effectiveness of supervisors and the health of an organization. Complex benefit rules make manual calculations difficult and recordkeeping a time-consuming process. Automating benefit accrual with a time and attendance system offers advantages to employees, supervisors and the organization, lifting the burden of recordkeeping and ensuring benefits are calculated correctly and impartially.
Does the complexity of your company’s employee benefit policies make tracking and accountability impossible?
With complex time-off policies, the goal is to apply employee paid time off and leave rules accurately, consistently and cost-effectively. The Benefit Accruals module automatically calculates virtually any series of conditions and rules for accumulating benefit time. Accrual rates and tracking can vary based on job position, seniority, employment status, or a variety of other conditions.
Four Criteria of a Benefit Management Solution
Organizations that automate benefit accruals achieve the following results immediately:
- Provide employees ready access to benefit information
- Simplify or eliminate benefit-related activities for supervisors
- Streamline benefit administration for the organization, lowering overhead
- Be easy to implement but customizable to the company's benefit plan
Stay Compliant
Benefit Accruals automates the calculation, validation, and granting of leave time available to the employee. It improves compliance with corporate policies and bargaining agreements, and it minimizes an organization’s exposure to leave liability and employee grievances. Benefit Accruals also consistently tracks FMLA and other mandated leave policies. Click here for More Information on Compliance
Want to see a Demo? Contact Rhonda @ (559) 513-8613 or This email address is being protected from spambots. You need JavaScript enabled to view it.
