We make the suggestion to utilize Human Interest as a preferred UKG partner on the 401k side of things. Best way I could put it.
Pros
It integrates with our UKG Ready platform and we have good relationships with the people that work at Human Interest.
Cons
Maybe lower implementation fees.
Likelihood to Recommend
Not necessarily, I mean, it's more appropriate if they need a all encompassing 401k platform versus maybe wouldn't make as much sense if they were a smaller company like below 50 employees
VU
Verified User
Executive in Sales (Information Technology & Services company, 1001-5000 employees)
We primarily utilize it for its technology capabilities and the seamless integration with multiple Payroll/HRIS systems. This integration streamlines processes for both use of use for our employees and clients, while reducing administrative burdens and fiduciary liability for our executives.
Pros
The ease of use for both executives and employees.
Reduction of administration.
Flexibility of various portfolios.
Integration into multiple payroll / HRIS.
Cons
The loan portion for management and administration to see the loans, but they have been working to fix that.
Likelihood to Recommend
Actually you guys serve a lot of variety of clients that we have. So everything from simple clients on your 316 and then you got your 338 platforms to some more of the complex clients that want to carve out their own funds. You guys integrate well with financial advisors if they wish to use that, but a lot of times it's, those aren't necessary if clients want to save money.
Human Interest was a partner company and helped our clients set up their 401k.
Pros
The ease of setup for the plan, the ease of administration for the plan, and the ease of the end user for the plan
Cons
Probably the integration. The integration with smaller payroll providers like Gusto.
Likelihood to Recommend
Well suited for smaller organizations that haven't set up a 401k plan, especially that are located in those locations where it's required now. So the laws continue to change at the state level. And probably the question related to less suited for whatever reason, and I'm not sure what it was, larger companies seemed to shy away from it and they would go with the more well-known record keepers.
VU
Verified User
Executive in Human Resources (Human Resources company, 1-10 employees)
Human Interest provides our companies 401(K) solution
Pros
Integrates with our Payroll solution
Easy to set up
cost efficient
Cons
ability to opt out after initial account is set up, currently, you can only opt out via initial email
Likelihood to Recommend
Human Interest representatives met with me and explained all aspects of the product in great detail. I made the choice based on price, flexibility for our employees and ease of use.
We use Human Interest for our employee 401k plan. Human Interest handles all aspects of the 401k plans for each employee and even syncs with our payroll service so everything is automated and easy to use. Each employee also has their own log ins and is able to customize their own 401k plan.
Pros
Set up
Integration with payroll
All reporting
Likelihood to Recommend
Initial call and demo was very well explained how the 401k plans work and the different options, set up was super simple and the integration with our payroll service for automatic deductions is excellent. The monthly fees are also very reasonable.
VU
Verified User
C-Level Executive in Sales (Marketing & Advertising company, 1-10 employees)
Easy way to administer a 401K without being too terribly costly. We have a small office so not spending too much time on HR is important to us. Human Interest allows us to provide a retirement plan to our workers and enhance their benefit package. It is beneficial to have someone else responsible for preparing and filing the Form 5500, etc.
Pros
Reporting
Automatic options
Answering questions as they arise
Cons
More pinpointed links to information on the dashboard when referencing it in e-mails.
Fewer generic notifications that may or may not apply
Likelihood to Recommend
Good for small firms; likely not as helpful for giant companies.
VU
Verified User
Professional in Legal (Law Practice company, 1-10 employees)
Our small firm wants to attract and retain the best talent by creating a meaningful compensation and benefits structure. I believe in the importance of retirement savings, so adding in a 401k plan was my top priority. After interviewing a number of providers, it was clear to me that Human Interest was the best solution for my firm. The onboarding process was easy and the on-going administration of the plan has been top-notch. And the investment options are rated highly by my financial planner!
Pros
Quality investment options and selection process
Ease of administering the plan
Platform works well for my employees - easy, direct access and support
Integration with our payroll provider (Gusto) makes transactions seamless
Cons
None come to mind
Likelihood to Recommend
Human Interest is an excellent option for growing businesses - affordable, easy to navigate, quality investment options, integration with payroll providers, and support for my employees.
401k solution for my company. This provides a great benefit to our employees. In addition, it's independent from our HR system so we can keep this solution regardless of what HR platform we use.
Pros
Initial setup was smooth
They answered all of our questions
The UI is easy to use
Likelihood to Recommend
Great solution for a small medium business like ours.
