Benefits administration is the process of assembling and managing the benefits an organization provides to employees. Employee benefits typically include health, disability and life insurance; individual retirement accounts and 401(k); wellness plans; flexible spending accounts; vacation and paid time off and sick leave; and maternity leave.
Many vendors sell software that can help benefits administrators, who are usually members of an organization’s human resources (HR) department. Traditional benefits packages have expanded to include offerings such as pet insurance, student loan repayment, commuting subsidies, legal services, incentive-based health and wellness programs, and employee perks and discounts on products and services. Employers also are increasingly asking workers to assume more of the cost of benefits, with voluntary, or employee-paid, offerings. The advantage of this approach is cutting employers’ costs while providing more customizable benefits to employees.
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