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Benefits administration
Benefits administration is the process of managing an employee benefits plan for a specific organization. The human resources department is generally tasked with managing a company’s benefits packages and enrolling new employees in established plans. This is a vital duty for HR professionals, as a company’s benefits offerings can make a big difference in attracting new hires and keeping existing employees engaged. For a business looking to create a competitive benefits program, some key considerations include:
- Creating explanatory, easy-to-use enrollment forms
- Educating employees on what kinds of insurance coverage, retirement accounts, paid time off plans, and other common benefits are available to them
- Implementing a self-service open enrollment system that allows employees to update personal information
Automating as many benefits functions as possible to reduce labor costs
Ascentis' powerful hr software can help you with all of your benefits administration needs.
Other terms:
Fair Labor Standards Act (FLSA)
The Fair Labor Standards Act (FLSA) is a federal labor law t... See more
