Believe it or not, benefit administration does not have to be a complex affair for any company. Implementing a concise and clear internal benefit administration process will ease any pains, improve internal efficiency and promote a professional image to new and existing employees. If you are either thinking of implementing a scheme or are currently managing a scheme, take this 10-minute challenge to test your benefit administration process efficiency.
Benefit broker and provider details
- Is it easy to locate details of the provider and (if applicable) broker for each benefit?
- Do you know how the provider is notified of starters, leavers and changes?
- Is your finance team aware of how the company is invoiced for benefits?
- Can you access benefit policies and other relevant documents with ease?
- Do you know if an employee can opt out of a benefit?
- Do you know if a benefit has personal tax implications for an employee?
- Is each benefit automatically available to all employees or is this role or length of service specific?
- Do you track what benefits each employee has?
- Can you confirm benefit renewal periods?
- Do you provide new joiners with information on company benefits?
- Is it easy for a new joiner or employee to access details of benefits on an on-going basis?
- Is there a process in place for an employee or new joiner to opt out, change their level of cover or update their personal details?
- Is it clear to an employee who they should contact to discuss any benefit queries?
- Is there a process in place to notify payroll of relevant payments or deductions?
- Are payroll aware of benefit tax implications?
How Did You Do?
If you answered ‘no’ or ‘I think’ to any of the above, we would recommend that you re-visit this area and spend time confirming the process.
Speak to the HR Experts
Need help streamlining your HR processes our HR Administration service can take the headache away. Our fully CIPD qualified HR Managers are on hand get in touch now by calling +44 0333 258 9131 or email firstname.lastname@example.org.