Building a solid foundation for your business requires that you build excellent customer relationships. Doing this means that you must attract talented and engaging employees who can help to project a positive brand reputation into the community. Putting together a top-notch team that is driven by the want to deliver quality service can be a challenge. This is why you need to place a higher emphasis on retaining the members of your talented and enthusiastic team.
Offering benefits as incentives is a great way to accomplish a high retention rate. But how you undertake employee benefits management will have an even greater impact on your ability to retain key staff. Making benefits status clear, while eliminating any confusion about what the benefits you offer are, provides a level of transparency that goes beyond the basics of handing out an annual benefits packet—it keeps your employees engaged in your business.
The ability to provide, track, and present an accurate picture of the benefits you offer and the status of these with each individual employee is crucial. Having the right set of tools in place helps you to address these issues while presenting an easy way to give a high degree of transparency to your staff. Best of all, this can all be accomplished through the use of a highly capable POS solution, eliminating the need to implement another system to maintain.
Data Management in POS Software Clarifies Reporting
One of the most important aspects of managing your employee benefits packages is the ability to keep track of all of its moving pieces. The advanced data management functionalities that are presented in a next-gen POS platform gives you this ability plus a few additional features. Customized reporting allows you to effortlessly keep tabs on employee eligibility requirements while being able to keep your staff in the know thanks to real-time data analytics.
This presents you with a few options in keeping you and your staff in the know. First, a cloud-based POS solution most likely will give you an app that can be used to execute and view customized reports. Your staff can also load this app, and view important benefits information, such as health insurance eligibility, overtime pay rates, or their salary to date. Doing this gives you a few side benefits as well, such as interactive scheduling or digital time tracking.
Role-based permissions can be assigned to benefits information, making the information presented pertinent to the individual role of each of your staff. This creates more autonomy around the benefits each employee receives while allowing an individual to have free reign to view and in some cases extend or retract any current benefits they participate in. These elevated privacy controls present you with the benefit of autonomy while allowing you to remain completely transparent to the individual.
Leveraging Your POS App to Autonomously Present Benefits Information
The ability to utilize role-based permissions and your own POS-provided business-specific app gives you an edge in maintaining autonomy when you are developing your own benefits center. A staff member can sign into your intuitive app, and take advantage of the easy to read UI when checking on benefits status or to see if they can make any modifications to their own benefits. This presents them with an easy and understandable way to manage their own benefits packages.
Another great place where your POS app will have an impact is through its ability to give your employees a glimpse into how the payroll process works. Team members can use the app to view digital pay stubs, make changes to their direct deposit or 401k withholdings, view vacation time balances or tax statements, and to clock in or out. This reduces the time staff spends on the clock reviewing their benefits and gives them the option to look at these items at their leisure.
Using Performance Metrics to Create Goal-Based Benefits
You can also gain revealing insights into how the computation of performance goals builds your staff’s confidence in your performance metrics process. With goal-based benefits, such as reaching a sales goal, or achieving a percentage of order accuracy, having the ability to show your staff the details behind these numbers is crucial. Not only can they see in what areas their own performances must be improved, but presenting an accurate picture of where these numbers come from builds a high level of trust.
Leveraging the advanced data analytics contained within your POS software solution gives you an edge in employee retention. You become the employer that is helping staff to achieve personal growth, and you give them a way to make it fun by allowing each employee to view their individual status in easy to read chart form. As the competition for top talent escalates around you, the cares of filling vacant roles drift away through your ability to provide a fun, rewarding way to boost personal performance.
Getting the Most Out of Employee Benefit Management Tools
A key part of getting the most power out of your POS solution is to use it for managing the employee benefits you offer. Taking advantage of dynamic data management and combining this with an intuitive app gives your staff the power to view and change their benefits. This helps to keep them involved while providing an accurate picture of their performances so that they can easily see where corrections need to be made.
Building your benefits into your POS solution requires the touch of an expert to realize the full potential of using your POS system for staff management. The expert you select must have more to offer than technical expertise; they must also bring in-depth business and benefits knowledge to the table to be fully effective. This gives you a top-tier, all-encompassing, POS solution that drives your staff retention and customer service to greater heights.
Enlisting the help of a business expert is crucial for developing a POS solution that does everything you need it to do. When you are ready, talech will help you to explore emerging POS technologies examine that maximize your business potential from top to bottom, with the goal of developing a solution that blends advanced POS technologies with your business and employee benefits management. Reach out to us today to sign up for a demo and to learn more about how talech can be your valued POS partner.