Environments of Compensation and Benefits Administration

The Impact of Technology

Many organizations cannot function without the use of computer technology. Technology has impacted almost all parts of business and it has made a substantial impact on human resources as well. Many systems will commonly support a larger human resources department and specialized systems are typically used as an organization increases in size.

Technology has made it possible to manage significant amounts of data for a company through:

• Human capital management systems with the ability to process and store large amounts of data.
• Compensation tools such as Microsoft Excel and compensation planning systems.
• Online benefit administration applications that allow employees and families to access important benefits information to manage enrollments, payments, benefits, doctors, spending accounts, claims, etc.
• A company’s internal website that enables sharing and communicating important information with employees and management such as job descriptions, the employee handbook, and so on.
• Performance management software that may also be available through the human capital management system and other software applications.
• Payroll systems.
• Many other enterprise software application systems and tools that are also available to support effective management of human resources and compensation and benefits programs.

The Global Shift

Technological advancements represent only a part of the occupational shifts and technological changes faced by the labor force. Globalization will continue to reshape domestic industries and the occupations within them. As in the past, the workforce must adjust to changes in requirements.