BeneTrac Debuts Hidden Paycheck Feature in its Online Employee Benefits Administration Software
San Diego, CA - Hawthorne Benefit Technologies, Inc., also known as BeneTrac, a provider of powerful, web-based electronic enrollment and employee benefits administration software, today announced the addition of its Hidden Paycheck feature in its already robust software package. This powerful capability gives employers the ability to quickly generate reports that show an employee's total compensation package, including both annual earnings and employer paid benefits, revealing the total value being paid for the individual by the corporation.
"In this day of competitiveness for employees, Hidden Paycheck is a powerful, much-needed tool that shows the full value companies are paying for an individual's employment. Tuning in to our end-users and their needs, we developed this feature as an eye-opener to educate employees that even with an average salary of $40,000 per year, an organization can spend up to $65,000 or more, including benefits," said Jerry Hawthorne, RHU, CHC, chief executive officer of BeneTrac. "With the growing costs of benefits and other amenities, companies need to be able to show the cost of what they are paying for employees."
The new feature from BeneTrac graphically and monetarily illustrates the dollar value of benefits, such as health, dental, vision, core life, long and short term disability, EE Assistance Program, Social Security, Medicare, federal and state unemployment, workers compensation, vacation pay and others. More than twenty benefit-specific fields can be included in reports by BeneTrac—including items such as bus fare and health club membership—from the corporation's payroll system.
Comparable to costly standalone programs, this new feature is included free in BeneTrac's software that eliminates paperwork and automates the management of employee benefit administration through a single, customized portal. Employers already using BeneTrac need only ask for it through their BeneTrac representative, insurance broker or carrier.
A sample Hidden Paycheck report can be seen at: https://www.eenroller.net/btrac/documents/demosite/SampleHiddenPaycheck.pdf
About BeneTrac
BeneTrac (also known as Hawthorne Benefit Technologies, Inc.) is a provider of powerful, web-based electronic enrollment and employee benefits administration software. The company's online benefit management solution, available exclusively through insurance brokers and benefits consultants, enables employers and human resources professionals to eliminate paperwork and automate management of their complete benefits packages through a single, customized portal. BeneTrac's one-stop-shop platform for automatically adding, updating, electronically exchanging, assessing and managing information capitalizes on relationships with more than 250 carriers and the company's powerful administration and reporting software features. Leaders in software engineering, group insurance and human resources, the experts at BeneTrac are dedicated to offering a robust, affordable, user-friendly system that simplifies benefits administration. For more information, please visit www.benetrac.com.
Source: BeneTrac