The Impact of Benefits and Compensation on an Organization

On average, companies spend 20-40% of operating costs on employee-related expenses. These include employee wages, bonuses, insurance, and additional benefits. Manually tracking these expenses is very labor-intensive and has a high likelihood of errors.

In this discussion, let’s address how an HRIS can be used to track and monitor these costs. What are the benefits of using an HRIS for compensation and benefits? How can an HRIS be used strategically to determine the impact of these costs on an organization?

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