Create Benefits
Objective
Benefits are the product or service that is offered to an employee for them to engage with. This page will guide you through the setup of Benefits within the Benefit Management Area.
Process
HR Manager
Determines the Benefit requirement for the company
HR Manager
Selects Benefits
HR Manager
Sets up Benefits based on company requirements
HR Manager
Rolls out Benefits to employees using Benefit Rollout center
Prerequisites
- You are HR Manager and have a Benefit Manager License
Click Through
- Start in HR HUB
- Navigate to Benefit Management
- Select Benefits
- Click on + New
- Name the Benefit
- Assign to a relevant Benefit Plan
- Enter a Benefit Description
- Assign, if applicable, a Benefit Premium
- Assign, if applicable, Employee Minimum Contribution
- Assign, if applicable, a Frequency
- Assign, if applicable, Tax Deduction Requirement
- Enter the Effective Date
- Assign, if applicable, an Expiration Date
- Save
- Assign the relevant Benefit Eligibility Rules
- Save
Hint
- The Benefit Premium is the total cost of the benefit over a period of time, typically a year.
- The Tax Deduction Requirement is on a Pre-Tax, Post-Tax basis, or Roth. This means that the employee contribution is, in the case of a Pre-Tax deduction, taken before income taxes are applied to the employee wage. The employee contribution is, in the case of a Post-Tax deduction, taken after income taxes are applied to the employee wage. Roth means the expanses are not deductible.
- A Frequency is the rate a which contributions are made from an employee's wage toward an elected benefit.
- HR Managers will be able to assign an Employee to the Benefit from within this form in case the employee is unable to do so for any reason.
Result
As a result a benefit offering will now be created to be rolled out to employees.
