This home health care client has 310 employees and is located in Farmingdale, NY.
With an extensive employee benefit package and a complex compensation and program including multiple formulas for determining employee bonus payments and sales incentives, the management team at this company desired to create greater efficiencies within their HR department to reduce administrative costs.
Our staff discussed the challenges confronting this client over the course of several meetings with their HR group and proposed the implementation of a new payroll system with the elevated level of capabilities that would allow them to achieve the efficiencies they were looking for. The new system utilized a state-of-the-art technology process that simplified the company’s complex benefit and payroll structure while creating strategies designed to further attain this client’s objectives. Not only would the new system accommodate our client’s benefit and payroll complexities, but as an added bonus, it will introduce new processes to increase compliance and ward off several potentially costly penalties and fines. enrollment with increased participation in all lines of coverage.
With payroll processing time reduced by over 40 hours per month and the elimination of more than one potential compliance penalty, this client saved over $235,000 the first year alone!
Our Advisors offer in-depth analysis and are ready to help you successfully navigate employee benefits and health insurance.