Employee Experience, Employee Benefits

bswift's Strategic Partnership Program Simplifies HR, Optimizes Benefits Offerings

bswift's Strategic Partnership Program Simplifies HR

bswift, a leading employee benefits administration company, has announced the expansion of its partnership program to include a curated set of trusted providers across the well-being spectrum as well as an open architecture format for employers to bring existing partnerships to the program. This expanded offering simplifies the integration of employer benefits ecosystems while centralizing and optimizing their programs to empower employees and boost benefits utilization.

"bswift's partnership program is unique from anything that is out there today," said Ted Bloomberg, CEO of bswift. "With our growing network of strategic Alliance Partners in combination with our open architecture framework, we're ready to meet clients where they are, and support the programs they love while recommending new programs that will provide value."

bswift's partnership program offers the following features:

  • A consumer-grade digital experience that serves as a central hub for all employee benefits programs.

  • Personalized, coordinated content and action items served up from across the set of providers, delivering actionable messaging to employees.

  • A curated and growing network of strategic Alliance Partners with pre-established and deep connections for employers to leverage as a grab-and-go network.

  • An open architecture format that allows clients to bring their existing partners to bswift for easy real-time integrations.

According to a recent Forrester study commissioned by bswift, Beyond Benefits: Why Employee Benefit Engagement Is Vital to Your Business, employers continue to focus on talent retention and attraction, as well as improving employee productivity. An overwhelming 83% of HR professionals indicated that employer benefits support these objectives, according to the study.

But benefits adoption still lags. The multiple generations in today's workforce want different offerings from their benefits programs, but all want more support from their benefits plans. That need for an effortless way to deliver these packages is at the heart of bswift's partnership strategy.

"We believe that making point solutions and other benefits easy to access and find in one place is the key to unlocking full benefits utilization," said Bloomberg.

With bswift's partnership solution, employee benefits programs can finally be centralized, personalized, and simplified.

About bswift

bswift is committed to delivering innovative solutions that serve our clients’ and customers’ needs. We do this by making it easier for employees to choose and use the right health plan and other benefits, so they can maximize their overall well-being. By using the latest technology and a caring approach, plus a deep understanding of each client’s benefits strategy and ecosystem, bswift helps companies and their employees get the most out of their benefits today and in the future.

Spotlight

Other News
Workforce Management

Mercans’ G2N Nova Solves Global Payroll Data Privacy Challenges

Mercans | January 24, 2024

Mercans continues to disrupt the global payroll industry and solidify its leadership position by rolling out exciting new features to its flagship, G2N Nova payroll engine. The recently launched features include game-changing technology and address some of the biggest challenges of global payroll, including international data privacy compliance and processing latency limitations. Mercans’ G2N Nova leverages groundbreaking stateless application architecture to enable completely anonymous payroll processing. This unprecedented technological approach enables processing gross-to-net payrolls without any sensitive Personal Identifiable Information (PII) ever being passed from clients to Mercans’ G2N Nova global payroll application. The stateless application architecture has never before been successfully deployed in the global payroll industry, and G2N Nova, is the only payroll engine that is able to generate 100% accurate gross-to-net calculations for 100+ countries. And that’s not all, it does so through a single, native platform in real-time without accessing or storing any identifiable information related to employees. This evidently innovative, payroll technology solution completely overcomes the complex data privacy compliance requirements, as confidential employee data never leaves the clients’ systems and is not needed by G2N Nova for gross-to-net payroll calculations. Thus, proving its technological prowess and independence. Additionally, this approach is a game-changer for the industry because data breaches and ransomware attacks have created concerns about data security and privacy in the payroll sector. These concerns have been significant hurdles for companies trusting external service or software providers for international payroll processing. G2N Nova’s stateless app architecture eliminates these concerns entirely. Clients’ PII never leaves their data centers and payroll-related information used by G2N Nova is completely anonymized. G2N Nova upgrade also includes a ground-breaking Continuous Calc feature that fundamentally changes how payrolls are processed. Until now, all payrolls had to go through a multi-step payroll processing cycle. G2N Nova breaks this legacy paradigm and introduces real-time net pay. The Continuous Calc feature maintains full gross-to-net values for each employee in real-time and automatically updates the net pay amounts of employees whenever there is an update to an employee’s record. This feature, thus, eliminates the need to wait for a payroll processing cycle to be completed to determine an employee’s net pay for a period. The gross-to-net values for all employees will be always available in real-time. In addition, the new version of G2N Nova lays a foundation for incorporating blockchain technology into payroll processes, allowing instantaneous and 100% tamper-proof verification of payroll calculations and payments using blockchain technology. Blockchain will create a permanent, unchangeable record of real-time record of all payroll transactions and amounts — so no one can alter or remove it. This revolutionary approach, thus, solidifies the foundation for third parties, including financial institutions, tax authorities, etc. The new ground-breaking version of G2N Nova offers global, gross-to-net payroll processing capabilities across 100+ countries, making it the world’s most advanced and powerful native payroll engine. G2N Nova is available as a SaaS or service delivery platform that can be used as a stand-alone global payroll platform or deeply integrated with all major HCM or Workforce Management software solutions. About Mercans Mercans is a global leader in payroll technology. Mercans’ revolutionary global payroll engine G2N Nova enables Enterprise businesses & HCM providers to perform gross to-net calculations across 100+ legislation.

Read More

Workforce Management

These Top Nine Human Capital Management Software Providers Will Streamline HR Initiatives This Year, SoftwareReviews Users Say

SoftwareReviews | December 11, 2023

SoftwareReviews, a division of Info-Tech Research Group and a leading source for insights on the software provider landscape, has revealed its new 2023 Human Capital Management (HCM) Data Quadrant Report, highlighting the top nine HCM solutions in the enterprise and midmarket spaces for the year. Adopting HCM software is essential for organizations, particularly as they focus more on attracting, keeping, and engaging their workforce. This software consolidates key HR functions such as storing employee information, managing payroll, recruiting, administering benefits, and more. By using HCM software, organizations can manage their employees more effectively, optimize HR service access, encourage learning and development, and improve employee engagement to develop a workforce that is both productive and content. "The case for investment in HCM technology has never been stronger, but the market has also never been more complex to navigate. New vendors with exciting new technology are entering the market, and established players are consolidating, creating a constantly evolving landscape," says Lisa Highfield, principal research director at Info-Tech Research Group and McLean & Company. "As such, it's more important than ever for software buyers to carefully and thoroughly explore the HCM landscape to find the vendor and technology that best fits their strategic priorities." To assist organizational leaders in deciding which HCM system aligns best with their strategies for retaining talent and fulfilling business requirements, SoftwareReviews has pinpointed the leading providers in the human capital management category. The top providers are ranked based on insights from verified survey data collected from 2,235 end-user reviews and high scores on SoftwareReviews' Data Quadrant. The 2023 Enterprise Human Capital Management Software Gold Medalists are as follows Workday HCM, 8.5 CS, ranked high for employee record. UKG Pro, 8.5 CS, ranked high for availability and quality of training. Ceridian Dayforce, 8.4 CS, ranked high for payroll administration. The 2023 Midmarket Human Capital Management Software Gold Medalists are as follows Rippling, 9.1 CS, ranked high for usability and intuitiveness. Gusto, 9.1 CS, ranked high for business value creation. BambooHR, 8.9 CS, ranked high for ease of implementation. isolved People Cloud, 8.4 CS, ranked high for employee record. Humi, 8.3 CS, ranked high for vendor support. Zenefits, 8.2 CS, ranked high for the quality of features. User assessments of software categories on SoftwareReviews provide an accurate and detailed view of the constantly changing market. SoftwareReviews' reports are informed by data from users and IT professionals who have intimate experience with the software throughout the procurement, implementation, and maintenance processes. About SoftwareReviews SoftwareReviews empowers organizations with the best data, insights, and advice to improve the software buying and selling experience. For buyers, SoftwareReviews' proven software selection methodologies, customer insights, and technology advisors help maximize success with technology decisions. For providers, the firm helps build more effective marketing, product, and sales processes with expert analysts, how-to research, customer-centric marketing content, and comprehensive analysis of the buyer landscape.

Read More

HR Strategy

HireRight Receives Non-Binding Acquisition Proposal from General Atlantic and Stone Point Capital

HireRight | December 12, 2023

HireRight Holdings Corporation a leading provider of global background screening services and workforce solutions, announced that it has received a non-binding proposal from General Atlantic, L.P. (“General Atlantic”) and Stone Point Capital LLC (“Stone Point”), and their respective affiliated funds (collectively, the “Sponsors”), to acquire all of the Company’s outstanding shares of common stock that are not already owned by the Sponsors for $12.75 in cash per share. The board of directors of the Company previously formed a special committee of independent directors (the “Special Committee”) to evaluate and consider any potential or actual transaction proposal from the Sponsors and any other alternative proposals or other strategic alternatives that may be available to the Company. There can be no assurance that any definitive agreement will result from the proposal submitted by the Sponsors or that any transaction will be consummated. The Company and the Special Committee do not intend to comment further about this proposal unless and until they deem further disclosure is appropriate. A copy of the Sponsors’ proposal letter is available as an exhibit to General Atlantic and Stone Point’s statements of beneficial ownership on Schedule 13D/A as publicly filed on Friday, December 8, 2023, with the United States Securities and Exchange Commission. About HireRight HireRight is a leading global provider of technology-driven workforce risk management and compliance solutions. We provide comprehensive background screening, verification, identification, monitoring, and drug and health screening services for approximately 37,000 customers across the globe. We offer our services via a unified global software and data platform that tightly integrates into our customers’ human capital management systems enabling highly effective and efficient workflows for workforce hiring, onboarding, and monitoring. In 2022, we screened over 24 million job applicants, employees and contractors for our customers and processed over 107 million screens.

Read More

HR Analytics

Paycom Releases DDX Update Based on Latest EY Findings

Paycom | December 13, 2023

Paycom Software, Inc. a leading provider of comprehensive, cloud-based human capital management software, announced updated cost estimates of data entry and HR tasks within its usage management analytics tool, Direct Data Exchange® (DDX™). These figures are based on the latest findings by professional services firm Ernst & Young (EY), who found the average cost of a single manual data entry made by an HR professional increased from $4.70 to $4.78. “Since launching DDX in 2019, we have strategically shown thousands of businesses the estimated ROI when employees own their own data,” said Chris Thomas, Paycom’s chief operating officer. “The cost of manual HR data entries continues to rise, further proving the need for employees to own their data.” An award-winning HR product, DDX gives employers insights into efficiencies gained through employee usage of HR technology. It provides a real-time estimated return on investment for that usage based on EY’s research, which is reflected in Paycom’s industry-first product. “While self-service HR solutions have been widely available for some time, there still exists tremendous opportunity for their increased adoption and usage across most organizations." said Steve Boese, HR Technology Conference program chair and co-host of the HR Happy Hour podcast. “Insights from DDX help HR leaders make the case for increased investment in HR solutions and enable them to demonstrate the positive returns on the investments in HR technology that are a direct result of eliminating slow, expensive, low-value-add and error-prone manual processes.” EY regularly updates its calculations by applying inflation factors to survey data. This year’s study also includes consideration for manual payroll tasks completed by HR professionals. When payroll tasks are included, the average cost of a single manual data entry rises from $4.78 to $5.35. These estimated costs are only averages. EY also concluded that the cost per data entry of each task varies and can be as much as $21.18. Additionally, according to EY’s annual research, the cost per HR task has continued to increase across every category of HR data — such as expense management, personal information and more — since the original survey launched in 2018. Paycom’s DDX automatically calculates these costs for clients so they can, in turn, drive employee usage of Paycom’s Employee Self-Service® technology. With the launch of DDX, Paycom became the first in the human capital management industry to provide a tool that assists employers in determining what appropriate employee usage of HR technology looks like and how to measure it. About Paycom For 25 years, Paycom Software, Inc. has simplified businesses and the lives of their employees through easy-to-use HR and payroll technology to empower transparency through direct access to their data. And thanks to its industry-first solution, Beti®, employees now do their own payroll and are guided to find and fix costly errors before payroll submission. From onboarding and benefits enrollment to talent management and more, Paycom’s software streamlines processes, drives efficiencies and gives employees power over their own HR information, all in a single app. Recognized nationally for its technology and workplace culture, Paycom can now serve businesses of all sizes in the U.S. and internationally.

Read More