Benefits form an integral part of employee value proposition. Employers often spend around 20% of the payroll for employee benefits. But the way these benefits are structured and delivered to the employees haven’t seen a change for the last few decades.
So there is an increase in the gap between the cost of these benefits to an employer and their perceived value by the employees. Employers now have to think outside the box for attracting, motivating and retaining their employees.
Compensation packages should be designed to include a basket of flexible allowances to minimize the tax outgo.
A lot of employers are now giving employees the freedom to align their compensation packages to their expense patterns for tax planning. For most successful companies, a flexible salary package is a USP.
A bunch of elements such as meal coupons, customized allowance pool and “below-the-line” benefits have entered compensation structures, defining a major shift in designing pay packages.
However, when a HR Manager first thinks of implementing flexible benefits, what comes into the mind is a whole lot of new tedious, manual, and time consuming tasks and processes. Thus, there is inhibitions that comes in when thinking about implementing such plans across the company.
When we discuss employee benefits & reimbursements, one needs to think about:
- connecting with multiple vendors;
- administering benefits;
- storing data & documents;
- generating reports;
- looking for insights to improve the overall employee experience while adhering to company policies.
A lot of such things needs to be coordinated and be in place to give the employee a smooth, hassle free experience.
Today, all this involves a lot of paper on the desks of HR, Admins and Finance Teams. Nobody enjoys this.
Do you like a cluttered desk?
I am sure the answer is a big NO!.
And we are here to help you clean up your cluttered desk.
We want to put our simple magic wand in your hands to help carry out key functions like – benefits administration, simplifying reimbursements, generate reports and gather valuable insights.
You have a reason to smile now. 🙂
Introducing, Paysack Desk
The Paysack Desk is a web and mobile dashboard which empowers the HR, Admin, and Finance Teams to carry out their tasks in a simple way.
It also provides them with the right kind of data, insights and reports, when they want it, and the way they want it.
We have built these tools with some key outcomes in mind – elevate the overall employee-employer experience, improve internal work flow and thus save on time and costs.
What does the Paysack Desk give me?
- Dashboard to administer and disburse benefits by categorizing as food, fuel, medical, etc.
- Digital Reimbursement documents: Capture documents and receipts to support a reimbursement claim.
- Digital Archive of documents & receipts: Access all reimbursement claim documents and bills that are digitally archived whenever you want it. Eg. during internal/external audits.
- Data, Financial, & Spend Reports: Generate reports regarding disbursements, credits, debits, benefits usage, etc for weekly, monthly, and annually
- Insights on Employee benefits usage: Helps customize benefits disbursement further to cater to the needs and interests of your employee.
Globally and also in India, there is a huge shift towards Digital Everything in our daily lives. Software tools and digital transformation can help automate and support creation of efficiency in work flow.
We at Paysack have kept the functions like Admin, HR and Finance at the core of building our tools to support you in your day-to-day work.
Say no to cluttered desks and move to our completely digital desk.
Let us together re-imagine the way employee benefits & reimbursements are administered and see more happy faces.
If you are curious to know more about us and how we could help serve you, send me an email – email@example.com