Employee Central Global Benefits is an integral part of Employee Central, an integrated HR core suite of tools available in the cloud. Employee Central Global Benefits delivers a robust, global suite of tools based on a global benefits framework.
This solution helps companies overcome many of the emerging benefits administration challenges they face. Companies will be able to easily navigate multinational regulations and compliance issues, while tailoring programs to the needs of individual employees.
Employee Central aims to cater to markets across the globe. It supports the benefits patterns globally. When we look at the patterns of benefits offered by employers, it ranges from Allowances (like meal or fuel allowance) to Reimbursement like telephone and internet, or child education fees, as well as insurance, pensions and other retirement and savings plan arrangements.
Different Types of Benefits
The following kinds of benefits are available:
These are benefits where an employee incurs expense and submits a claim. For example: medical bills, club Membership, electricity bills, gas, and child education.
These benefits are provided as an allowance directly in the employee’s salary. Some examples are: fuel allowance, higher education, gym membership, and house maintenance.
It is a retirement benefit that an employee is entitled to at the time of retirement. This amount is to be paid regularly to an employee, following his/her retirement from service. To enable enough payment at the time of retirement, many employers offer this as a benefit where they contribute a certain percentage or amount to an employee’s chosen retirement fund. Employee also contributes to this. For example: pension, provident fund, CPF, and pension fund.
Insurance plans provide the protection to the policy holder and its dependents from life’s uncertainties or medical emergencies.
- Other Benefits
There are some benefits in which the employee is eligible for without enrolling or claiming, such as family day benefit. Employees can view these benefits on their employee overview page. To get a detailed information about such benefits or its policies, the employees can use the link that appears against each benefit.
- Deductible Allowances
These are the benefits that allow some periodic deductions from an employee’s compensation after his/her enrollment.
What is the benefit for your company?
Apart from mandatory benefits there are other benefits which may vary from company to company or industry to industry (for example car allowance, company house, food allowance, fuel allowance , health insurance , life insurance , gift vouchers, service anniversary vouchers etc.). In Employee Central, benefits are classified into above categories. This will help to establish a suite that is specially designed for your company needs and requirements, no matter how global your organization is located.
There are multiple ways of using Global Benefits. You can have the system managed solely by HR having them administer the benefits to the employees, you can have benefits automatically assigned to employees via business rules, and/or you can have employees enroll themselves into benefits using employee self service.
While Global Benefits were initially created for benefits outside of the US, it is now possible to use this functionality for US Benefits as well. This would include Medical, Dental, FSA, HSA, 401K and Cobra Coverages.
Configuration of Global Benefits includes the use of business rules, MDF objects, configuration UI’ for each of the MDF objects, as well as pay components and workflows.
Global Benefits leverage the standard dependents functionality to determine which dependents are eligible for a plan. You can also configure coverage options for insurance plans (Individual, Ind+1, etc.) and attach dependent types to this data.
Time and Material costs
You don’t need any additional licences for Employee Central Global Benefits if you already have you Employee Central licences. There are no extra costs for using these functionalities.
For implementing the benefits, you don’t need a partner when you have an advanced level employee in-house who can manage Employee Central configurations. Global Benefits have a lot of moving parts and is tricky to implement. Time to implement would depend on how many plans, coverage and eligibility rules you need.
Most elements can be covered by your own team, however, since it is a little complex, Exaserv would recommend having some assistance if your employees are not at an advanced level in Employee Central configuration.
You and you team can benefit from this solution within this year if you like. Just to give an idea; A couple of elements would probably take about a month, and all the other elements of Global Benefits would take a few months. Click the button below to schedule a consultation on how Exaserv can help with your Global Benefits.
Author(s): Julie Delatorre