Benefits administration is the way that a human resources team creates, manages, and updates the benefits program for their company. Items that are considered benefits include paid time off, vacation days, parental leave, health insurance, and more. The benefits offered vary extensively from company to company.
Creating an appealing mix of benefits can be crucial for hiring new talent and retaining your staff. This can be a huge part of why someone would accept a role in your company or not. For example, many people would choose a company that offers health insurance over one that doesn’t. Benefits are a way of offering staff a better value proposition without increasing the salary.