Employee Benefits Administration Made Easier
Benefits administration involves developing and managing employee benefits, training on how the benefits work and monitoring employee standards for qualification. Generally the Human Resources department oversees the function, however in smaller companies without an HR department the responsibility often falls to an accounting person or department.
Benefits administration takes a lot of time making sure benefit plans are running smoothly. As an example, reviewing of personal days, vacation days, and sick days and the process for adjusting an employee’s account in accordance with the company’s policy and procedure can be cumbersome. Coordination with the payroll department is also critical so that the employee is paid appropriately.
Overseeing health and other insurance coverage for qualified employees is another part of benefits administration. Payments must be made to the insurance provider timely after a thorough review of invoices to make sure that payments only include eligible employees for the group coverage. Individuals that handle administration also introduce the benefit plan for new employees who complete the probationary period. Overseeing the functioning of retirement plan programs is also part of administration. Payroll deductions must be in place for eligible employees, making sure that any matching funds by the employer are applied in a timely and proper manner.
Employee Benefits Administration Made EasierBenefits administration involves developing and managing employee benefits, training on how the benefits work and monitoring employee standards for qualification. Generally the Human Resources department oversees the function, however in smaller companies without an HR department the responsibility often falls to an accounting person or department.Benefits administration takes a lot of time making sure benefit plans are running smoothly. As an example, reviewing of personal days, vacation days, and sick days and the process for adjusting an employee’s account in accordance with the company’s policy and procedure can be cumbersome. Coordination with the payroll department is also critical so that the employee is paid appropriately.Overseeing health and other insurance coverage for qualified employees is another part of benefits administration. Payments must be made to the insurance provider timely after a thorough review of invoices to make sure that payments only include eligible employees for the group coverage. Individuals that handle administration also introduce the benefit plan for new employees who complete the probationary period. Overseeing the functioning of retirement plan programs is also part of administration. Payroll deductions must be in place for eligible employees, making sure that any matching funds by the employer are applied in a timely and proper manner.
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