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Where Companies Gain The Most Benefit From HRM Services

February 13, 2023, by New City Insurance

searching best candidateHuman resources management (HRM) services help an organization better support its employees and become more time- and cost-efficient. HRM offers a strategic approach to maximizing employee experience and performance by focusing on effective onboarding, staffing, deploying, and overseeing workers within an organization.

HRM helps organizations effectively manage employee resources. Regardless of the business type or industry, employees are vital to an organization’s growth and success. Learn how companies benefit from HRM services and how the HR support consultants at New City Insurance help maximize workplace efficiency.

Today’s Human Resources Department Is Overworked

The expectations and pressure put on HR have never been higher, especially since the pandemic. Before COVID-19, HR teams were primarily responsible for performance, engagement, compensation, and other people-oriented focus areas. However, since the pandemic, HR leaders have had to deal with additional responsibilities concerning the physical and mental health of employees, as well as the increased presence of hybrid work environments.

A recent study conducted by Workvivo surveyed over 520 HR professionals from the US and UK on burnout in their HR departments. According to the survey, 98 percent of HR professionals are burned out, a trend that emerged over 18 months as workers encountered remote and hybrid work transitions. The survey also revealed that 94 percent of HR professionals felt overwhelmed in the past six months and 88 percent dreaded going to work.

Today, HR professionals are dealing with a wide range of challenges that help fuel burnout, such as establishing remote operations, planning for a return to the office, overseeing health and safety protocols, complying with COVID-19 vaccination requirements, and recruiting and hiring during a time of significant employee turnover, a period known as the Great Resignation.

However, the pandemic is not solely to blame. Even before COVID, the World Health Organization (WHO) identified burnout as an occupational phenomenon.

HR Is Stressed With Maintaining Company Morale on Top of Recruiting, Hiring, Onboarding, and Retention

human resources recruitment team staff management business conceptWith many organizations still short-staffed, most HR departments remain stressed and overwhelmed with maintaining company morale on top of their usual responsibilities, such as recruiting, hiring, onboarding, and retention. Due to being so short-staffed, many employees are unable to take time off when they need it, resulting in reduced motivation and productivity. Employees are also more likely to quit when they feel like they are not appreciated or valued by their employer.

According to new data from a LinkedIn newsletter, HR has the highest turnover of all job functions with an average quit rate of 15 percent over the last 12 months. There are several factors that are influencing HR professionals to quit. LinkedIn speculates the reason behind the high turnover rate is a dysfunctional company culture where employees gain an inside perspective on how the company treats their employees.

Burnout among HR employees is more significant than it appears. According to a recent survey by AllVoices, of the 53 percent of HR professionals that reported being burned out, 48 percent are looking for a new job. In addition, among those searching for a new job, 73 percent say they are burned out.

HR Professionals Feel Underappreciated and Burned Out

Larger workloads and other factors are taking a toll on HR professionals. Many individuals feel underpaid, overworked, and underappreciated, resulting in reduced morale and motivation across HR departments.

Many HR departments played a direct role in coordinating their company’s transition to remote work after the pandemic, and most are still dealing with the aftermath of this major change in the work environment. HR professionals are also responsible for informing their colleagues about changes in the workplace caused by economic changes, such as layoffs. While employees often look to HR for comfort and guidance, many HR professionals feel like they have little to no support.

According to a Workvivo survey, only 29 percent of HR professionals feel that their work is valued in their organization. In addition, 78 percent of respondents say that they are open to leaving their job this year in search of new opportunities. Over three-quarters of HR professionals hope to change their employer and are looking for better benefits and compensation, according to the latest LinkedIn Workforce Confidence Index.

HRM Services Help Alleviate Stressors From Managing Employees

hrm services conceptWhile stress affects everyone differently and to varying amounts, most HR professionals agree that they are now facing more stress than in years past. A survey by Human Resource Executive found that 86 percent of HR executives say that their stress has increased in the last year. The survey showed that 44 percent say that their stress levels have increased dramatically, 11 percent say that their stress levels have remained the same, and just 3 percent say their stress has decreased since last year.

For most businesses, the main goal is growth. However, with growth comes more employees to manage, more data to track, and more complex processes to oversee. Human resources management is designed to make many time-consuming and routine HR tasks more manageable. In turn, this saves employees time and makes the company more productive.

Instead of having to manually complete paperwork or deal with piles of employee documentation, HR professionals can keep their focus on making important decisions to optimize company strategies regarding employee management, workforce planning, and more. Implementing HRM services is one of the best ways that today’s organizations can alleviate common stressors from managing employees.

HRM for Employee Benefits Compliance

Employee benefits compliance is a major concern for many organizations. Employers are under immense pressure to ensure that employee benefit plans are fully compliant with all relevant employment laws, such as HIPAA, COBRA, and ERISA. Failure to comply could mean significant penalties, fines, loss of tax-favorable status and in extreme cases, criminal charges.

Plan administrators, along with other HR professionals responsible for managing benefits, must follow all judiciary requirements while looking out for the best interests of participants. There are many fiduciary requirements that must be followed, such as ensuring that participants receive their promised benefits, establishing procedures in a fair and financially sound manner, funding benefits by plan rules and the law, and reporting and disclosing plan information to participants and the government.

According to a survey conducted by the International Foundation of Employee Benefits Plans (IFEBP), the top challenges that benefits departments face include compliance with regulations and laws (72.6 percent) and rising health-care costs (51.9 percent). To help manage these important tasks, many businesses now choose to outsource. On average, businesses report outsourcing approximately 40 percent of their benefit functions. HRM services help businesses remain compliant and avoid penalties.

HRM for HR and Payroll Integration

Companies often start to encounter challenges with HR and payroll administration as their business grows. With HR and payroll integration services, businesses can help alleviate the stress of accurately managing HR and payroll, allowing companies to better focus on the growth of the business. Integration has become essential for successfully managing employees and HRM services are required for seamless integration.

With integrated payroll, businesses can track the information they need to effectively manage employees and run the business. This means less time spent manually completing paperwork or employee documents. Instead, all the information is uploaded to a centralized location and can be easily accessed and updated as needed.

payroll file with timesheetHR and payroll integration can be useful for streamlining a variety of administrative actions. For example, time and attendance software may be integrated with payroll, as well as human resource software and accounting software.

Human resources management services are designed to help give businesses a competitive edge in their industry. HR and payroll integration help organizations maximize their efficiency, streamline their HR processes, consolidate reporting, and help lessen the paperwork burden on HR professionals.

Start HRM Services and Help Your HR Department Support Employees’ Success

Every business is looking to increase its efficiency in the workplace to achieve greater output, better client-customer relationships, and increase revenue streams. This task is often placed on human resources, which is responsible for recruiting and hiring, as well as company-focused planning, among other tasks.

The HR compliance and technology experts at New City Insurance have helped countless businesses achieve greater efficiency and overall success by introducing and managing employee benefit programs, helping businesses maintain employee benefits compliance, developing growth strategies, assisting with payroll integration and HR administration, and providing ongoing HR support. Request a consultation with New City Insurance today or call 888.210.2765 to learn more about HRM services or to get started today.

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New City Insurance
New City Insurance
5.0
Carol Zhang
Carol Zhang
04:29 06 Mar 22
As a rapidly expanding national media organization, the employee benefits strategy and administration that New City has provided us during our growth has been invaluable. They have been proactive about informing us of the different benefit strategies available to us as we grow as well as managing the additional compliance laws and reporting requirements at each stage of our growth.
Claudia Villalobos
Claudia Villalobos
20:14 03 Mar 22
New City Insurance made navigating through all the health insurances super EASY. Their documents are highly informative, professional, and easy to work with. Thank you for making the process of choosing a health plan so simple. You guys are THE BEST!
Philippe Salas
Philippe Salas
17:02 22 Feb 22
I never expected to have a good time talking to an insurance salesman, but let me tell you Brendan was quite the treat. He was very helpful explaining the options and has a wonderful sense of humor. I hope to speak with him every time I call.
Jennifer Polito
Jennifer Polito
17:15 09 Feb 22
Super easy enrollment process. Fast and friendly customer service. If you are looking for an insurance company that is there for you every step of the way I highly recommend New City Insurance.
Rocky Salas
Rocky Salas
23:46 07 Jan 22
So friendly, I hope to speak to him again in all my future insurance needs.
Rocky Salas
Rocky Salas
23:38 07 Jan 22
So friendly and soft spoken. I hope to speak to him again in all my future insurance needs.
Jose Brena
Jose Brena
13:20 06 Jan 22
Eric Calciano has been extremely helpful in finding and selecting the right insurance coverage for our company. With many options out there Eric assisted us on getting a low cost provider saving more than 20% than from our competitors and providing excellent coverage for our employees.
Anastasia Beaverhousen
Anastasia Beaverhousen
17:05 28 Dec 21
Signing up for insurance was quick and easy. Felicity Sundsboe
SFCC
SFCC
22:08 29 Nov 21
Jeff Stoltey and his team provide excellent customer service. Jeff has always provided my company SFCC with straightforward options. I went to a larger insurance company only to RUN BACK to Jeff at New City Insurance. I recommend them to anyone needing insurance without hesitation.
Kevin Luby
Kevin Luby
19:13 22 Oct 21
Quick, easy & informative. We were able to secure quality insurance for our small business on a tight deadline. Thanks for the help New City.
Theresa Ruybol
Theresa Ruybol
19:30 01 Jul 21
Eric was so great with us. He was very patient and kind as we are a newer smaller organization who is growing rapidly. With that said, we had made our inquiry, he had great rapid response and mostly had to wait on me. Any request that we made and/or questions we had, he was great answering and helping us understand. Then when we were ready for all documents and to move forward, Brendan helped with getting that together and the two of them worked their magic on New City's end to notify me of what was needed, assist me in that process and confirming that all was complete and approved for the coverage. I just want to say thank you all again so much, as insurance has always been confusing to me, and you all made that process go a lot smoother.Thank you
Andrea Ordendorff
Andrea Ordendorff
21:06 07 May 21
I've been working with both Clayton and Brendan for well over a year. As the purchase of our dental practice was delayed well over 14 months they both patiently supported me and continued to make themselves available. When we were officially ready to sign up they made the whole process seamless and super easy. This team is highly knowledgeable, professional, supportive, and efficient! I can't thank them enough for everything they've done.
T W
T W
22:32 30 Aug 20
I love New City Insurance. I never had a good experience dealing with insurance brokers until I started working with Brendan. He’s awesome! He is patient with me and takes the time to answer all my questions. I’m very grateful for all his help and hard work!
Mary Jane Deyette
Mary Jane Deyette
00:57 11 May 20
Jeff Stoltey is so awesome...even thru my company had only two employees, he took the time each year to research and find the best plan for us. The only reason I am leaving New City Insurance is because we no longer have any employees. Thank you Jeff
Alma Ortiz
Alma Ortiz
22:25 23 Feb 20
Brendan was awesome! I couldn't figure out how to pick my plan and he returned my call on a weekend to help me. Outstansing service!
jessica kavanagh
jessica kavanagh
19:53 13 Feb 20
Brendan was so helpful I definitely recommend him if you’re in need of good help and getting it done promptly. Thankyou so much again.
Tricia DeYoung
Tricia DeYoung
19:49 13 Feb 20
I was very thankful I inquired about this info. with Brendan. He was very helpful so I understand the benefits available much better now. Thank you Brendan.
B Bayer
B Bayer
17:43 24 Sep 19
NCI handled almost everything from start to finish. Clayton and Brendan made the plans easy to understand and walked me through the application process. They got me my ID numbers before my cards arrived so that I could keep an appointment I had already scheduled. My last broker wouldn't have done that. 5 stars!
Jessica Lehr
Jessica Lehr
03:36 07 Jun 19
Our staff was interested in a health plan, but we didn't know how beneficial a solid employee benefits package would be for our business to expand. We'd lose prospective employees because they had more options for their medical insurance which was sometimes more valuable than more pay. The New City team was amazing and gave us as many affordable options as possible so that everyone had their needs met.
Mike McClay
Mike McClay
19:36 03 May 19
My employer uses New City as their insurance broker, and I'm always amazed when I call in for assistance by how knowledgeable and attentive their staff is with my requests. Their online benefits platform makes selecting insurance plans pretty darn easy. I would highly recommend their services.
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