Benefits management can be a nightmare when rate changes occur. Payroll and Human Resources software systems that have benefit rate tables triggered by effective date can transform the nightmare into a walk in the park.
Take advantage of rate tables whenever possible by coding your employees’ benefit records to use those rate tables. When rates change all you have to do is create a new rate table with the new effective date. The new rates will then take effect automatically when that date is reached. The better Payroll/HRIS systems allow you to choose between pay period end date and check date to compare against the effective date. Of course, you will still have to change an employee’s benefit records when they change their coverage type, say from single to family.
As powerful as rate tables are, I still find users that enter each individual employee’s rate into the employee specific benefit records. When rates change, all employee benefits have to be manually changed. It’s okay to change an employee’s record when for some reason you need to override a rate that would normally come from a table. Make your life in the PR/HR sorftware jungle simple by taking advantage of rate tables.
VP Software Development