Great technology and product, but implementation was a mess
Updated January 31, 2023
Great technology and product, but implementation was a mess
Score 4 out of 10
Vetted Review
Verified User
Overall Satisfaction with Human Interest
We utilize Human Interest for our 401(K) program for employees. We switched payroll vendors from ADP (who always administered our 401k) to Paylocity, and Human Interest was recommended to us. It recommended investment strategies for employees in layman's terms and the process looked very easy in the demo. There was also Spanish support we needed for our company. This was the only company that would eat the cost of the conversion fee that ADP was going to charge us to switch 401(K) vendors. We looked at other companies, but I chose Human Interest because of the API capability with Paylocity and the ease of use for our employees.. However, we've realized that because we have two company codes (aka IDs) under one EIN, the API is not working.
Our transition was also later than anticipated so we have to manually process a couple of 401(K) contributions with ADP.
Our transition was also later than anticipated so we have to manually process a couple of 401(K) contributions with ADP.
- They sold us very well in the beginning and the original sales rep brought in his manager which also helped answer questions our executives had.
- Ease of use for employees seems great. Walking through as an employee is simple and quick. All electronic paperwork is great.
- Sending reminder emails to sign up for the 401(K) is a great feature that's easy to use. I have used these a lot!
- I felt completely in the dark and blindsided by Human Interest at times. This was a very rocky transition for us - it seemed like they didn't have our transition together. Our API still doesn't work between payroll and Human Interest.. We have a fix at the moment with the ops team manually making changes, but I had to follow up a lot on questions I had and I was extremely stressed out on payroll days, not knowing if the 401(K) deductions were correct or going to be processed. *I* was the person who realized that the integration wasn't working between payroll and Human Interest.
- Being more proactive with issues and communicating with us would be very helpful!
- The timeline needs laid out from start to finish during the launch/implementation. We were behind the timeline without knowing it, and no one from Human Interest followed up with our CEO on some items at the very beginning... but we were still told we were good to on our first anticipated payroll when in reality we were not.
- API functionality needs fixed. Having two company IDs with 1 EIN shouldn't be such an issue.
- The Current Contribution report doesn't match the employee screen with contribution rates because some people have a contribution rate in the system, but haven't signed all of the disclosure documents, so they're technically not supposed to contribute to the 401(K). This makes the report confusing to me.
- There should be more training close to the first payroll date to walk through the system. Not sure if we had this, but I know I wasn't included in it?
- Less employees are contributing to our 401(K), about 50% less, which isn't great so far, but change is difficult for employees.
- Human Interest paid our conversion fee that our previous vendor was charging us which was amazing.
- I have had to spend more time checking payroll deductions since the API isn't set up.
- I have to check that every employee who is duplicated in both company codes is active in Human Interest which takes more of my time.
- Active Trader Pro (Fidelity Investments) and StreetSmart Edge by Charles Schwab
We selected Human Interest because they covered costs for switching vendors that our previous vendor was charging us. They also seemed to be very user friendly for our employees, and not too big to get lost in customer service as an administrator or employee. We are a smaller company so we need support from our vendors sometimes to answer questions.
Do you think Human Interest delivers good value for the price?
Yes
Are you happy with Human Interest's feature set?
Yes
Did Human Interest live up to sales and marketing promises?
No
Did implementation of Human Interest go as expected?
No
Would you buy Human Interest again?
Yes