What is Benefits Administration ?
‘Benefits Administration’ is the process of managing the benefits for the employees. It is a labour-intensive task as HR needs to create competitive benefit packages based on multiple factors like tenure and seniority of the employee, etc.
It also includes the task of making the employee aware of the benefits, which helps in raising employee engagement. Along with it, HR also needs to take care of handling the suppliers to ensure that the company is getting the best deal possible while also making sure that the benefits are at par with industry norms.
The HR is also responsible for handling the claims when the employees avail these benefits and hence, multiple companies have resorted to software to manage the same.