Advantages Of Employee Benefits Administration Outsourcing

The advantages of employee benefits administration outsourcing for organizations

are threefold - reduced costs, greater focus on core tasks, and motivated workforce. It brings about streamlined operation of the business, with the potential of attracting skilled professionals in the job market as well as increasing the chances of retaining existing staff. Employee benefits are one of the most important elements of human resource management and its administration is one of the services provided by a professional employer organization (PEO) to client organizations.

Outsourcing Employee Benefits Administration to a PEO

One of the advantages of employee benefits administration outsourcing is that PEOs can help client organizations secure attractive rates for attractive coverage plans. This truly serves the cost cutting needs of organizations, be they large or small. The services provided by a PEO with regard to employee benefits include:

.Employee health benefits & insurance plans (PPOs, HSAs)

.IRA solutions (Individual Retirement Accounts)

.Retirement planning

.Dental and vision care

.Long term and short term disability insurance

.Cancer, accident, hospital and other supplemental plans

.Education saving plans

.Adoption assistance

.Cafeteria plan

.Flexible spending accounts

.Individual coverage

.Employee voluntary benefits programs

.Prescription drug plans

As can be seen from the above list, one of the other advantages of employee benefits administration outsourcing is the wide range of benefits that a PEO helps its client organizations offer, even if they be small or medium-sized concerns. It ensures a greater attraction for young professionals looking for the next big thing. Benefits go a long way in getting the right people to work for you. The PEO is always available to help in the other aspects of HR management as well including recruitment, training, payroll administration, workplace safety and legal compliance.

by: Christopher Walton

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