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Benefits Administration Outsourcing: Might It Be Right for You?

Zenefits

Employee benefits are a major cost for employers, recently accounting for 29.5% It’s crucial that these benefits be administered correctly. If a company doesn’t correctly navigate the maze of regulations surrounding benefits administration , it could face steep penalties and fines.

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Benefits Coordinator Job Description: Salary and Job Responsibilities (with Examples)

AIHR

In today’s fast-paced and competitive business environment, a skilled Benefits Coordinator is vital for employee wellbeing and satisfaction. According to a Qualtrics report, employees who are satisfied with their salaries and benefits are 13% more likely to continue working for their current employer for 3+ years.

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Payroll Administration: What It Is and Why It Matters

Zenefits

1) Hence, efficient payroll administration matters. Payroll administrators facilitate all elements of employee payroll. An accurate, seamless, trustworthy process that benefits the company and its workforce. What is payroll administration? What does payroll administration accomplish? The ideal result?

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Penalties for Benefits Noncompliance

Zenefits

Inflation is not only fueling price increases; it’s also requiring employers to pay more in penalties for not complying with benefits laws under the Employee Retirement and Income Security Act of 1974 (ERISA). History of benefits compliance. Employers have been offering employee benefits since the late 1800s. Retirement.

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HR Fast Facts: Getting Started With Health Savings Accounts (HSAs)

Zenefits

If your group offers a Health Savings Account (HSA) eligible plan, you can sign up for an HSA through a benefits administration platform. Usually, only administrators with HR permissions will have access to set up an HSA account. No account yet? Start date for the HSA. Company contribution towards the plan.

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Lifestyle Spending Accounts: Everything You Need to Know

Zenefits

Competitive benefits have proven highly effective to both of these objectives. It’s important to note that “competitive” doesn’t mean just offering core benefits, such as health insurance, 401(k) plans, and paid time off. What are lifestyle spending accounts and how do they work? Employees do not make any contributions.

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PEO Benefits: How to Grow With a PEO

Zenefits

Partnering with a professional employer organization, or PEO, benefits these owners, their employees, and the growth and stability of their organizations. PEOs provide administrative tasks and support for payroll processing, benefits administration, strategic services, compliance, and other time-consuming HR functions.