Benefits Administration
The process of managing and overseeing employee benefit programs such as health insurance, retirement plans, paid time off, and wellness programs, including enrollment, compliance, and communication.
Examples
- Managing open enrollment periods for health insurance
- Administering 401(k) matching contributions
- Tracking COBRA eligibility for departing employees
- Communicating benefit changes to employees
Related Terms
The total combination of pay and benefits an employer offers to an employee, including base salary, bonuses, equity, health insurance, retirement contributions, and non-monetary perks.
A policy that provides employees with a bank of hours or days that can be used for vacation, personal time, or sick leave, offering flexibility in how time off is used.
An integrated software solution that combines HR processes and information technology to manage employee data, streamline HR operations, and provide analytics for strategic decision-making.
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