All those reams of paper in your office — documents to enroll new hires in benefit plans, disenroll ineligible dependents and the like — are costing your company money. A lot of money.
According to a new study released today from bswift, an HR solution software and service provider, 22% of companies have not automated the new hire enrollment process and only half of employers have an automated dependent “age out” process for cancelling coverage. Sticking with paper-based processes is costing organizations $1 million for a 4,400 employee company (or $19.07 per employee per month) that could be saved by switching to automation, bswift concludes.
