This solution benefits our partners by minimizing the time and effort spent filling out new hire reports or reconciling missing information, saving their clients’ money on the overall cost of administration while improving compliance.
New Providence, NJ (PRWEB) August 24, 2017
EverythingBenefits, a provider of comprehensive, next-generation benefit technology solutions and services, announces the launch of its Automated New Hire Reporting solution. This solution simplifies the communications process that most U.S. employers must undergo when either hiring, re-hiring, or in some cases, terminating an employee.
EverythingBenefits’ Automated New Hire Reporting solution works by proactively monitoring for new hire events or related changes in a client’s HCM/payroll platform and automatically generating and filing the correct report with the appropriate state agency. By leveraging service-level integrations, data is automatically pulled from employment records via Application Programming Interface (API) – allowing users to record, monitor, collect, validate and audit the necessary new hire reporting information. This solution can be leveraged by businesses of any size and hosts multi-state and multi-EIN support.
According to the Personal Responsibility and Work Opportunity Reconciliation Act of 1996, every company in the United States must report their new hires to their local state government. Notices of new hires help the government keep track of employment statuses for potential child-support cases. New hire reports must contain the name, address and social security number of the new employee; and the name, address and Federal Employer Identification Number of the employer. Some states may require different information and/or reporting deadlines than others.
“According to Compensationforce.com, the average turnover rate for all industries in 2016 was just under 18%,” commented Stephanie Magou, Project Manager for Automated New Hire Reporting at EverythingBenefits. "This solution benefits our partners by minimizing the time and effort spent filling out new hire reports or reconciling missing information, saving their clients’ money on the overall cost of administration while improving compliance.”
EverythingBenefits is a leading provider of next-generation, end-to-end benefit technology solutions and services that help businesses of all sizes and their employees experience benefits in more meaningful ways. By leveraging an open business model, EverythingBenefits partners with benefit brokers, independent agents, insurers, payroll or human capital management companies, and other providers. The company’s philosophy is that technology should make life simpler, more rewarding, and more enjoyable. For more information, please visit our web site at http://www.everythingbenefits.com or connect with us via LinkedIn, Twitter, or Facebook.