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Employee Benefits Administration

What is the Employee Benefits Administration?

Employee Benefits Administration refers to the process of identifying and handling the perks and advantages provided to workers. Workers' eligibility for benefits such as medical, disability, pension plans, holidays and paid holidays, sick leave, maternity, and paternity leave is normally determined by benefit administration systems. Several companies use it as a strategic advantage in attracting, recruiting, and retention of talented employees, and also reducing operating expenses.

How to Increase Retention Rate with Employee Benefits?

If a company provides a good package of employee benefits than competitors, the employees get attracted to it and they usually do not think of switching the job as well. Moreover, it also creates a good image of the company in the industry.

Related: Employee Benefits, Benefits Administration, Fringe Benefits, Affordable Care Act (ACA), Retention Strategy.