Benefits Administration Expense as a Percentage of Total HR Expense
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What is Benefits Administration Expense as a Percentage of Total HR Expense?
The total amount of employee benefits administration and management-related expense incurred by the company over a certain period of time, divided by the total HR department expense incurred over the same period. Benefits administration typically involves the development, implementation and ongoing management of company health plan and retirement program (401k, etc.) benefits.
Why should Benefits Administration Expense as a Percentage of Total HR Expense be measured?
Benefits Admin Expense per Employee measures the total cost to manage and maintain the company's benefits programs as a percentage of total company-wide human resources spending over the same period of time. A higher than average value for this metric may be related to cumbersome or manual benefits administration processes, lack of discipline in ensuring accurate enrollment, and/or ineffective communications with the company's workforce in regards to the details and use of their benefits (health insurance, retirement plans, etc.). While a low value for this metric is preferred, this should also be balanced with the level of service being provided to the employees of the company, as the quality of service related to benefits program administration may impact employee satisfaction and turnover rates. In some cases, many aspects of benefits administration may be outsources to a third party vendor.
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