Having A Difficult Time Finding And Managing Employee Benefits? Find An Administration Consutlant To Help
If you run a business and your number of employees is growing, it may be difficult to determine if you're offering your staff the best benefits. If you don't understand health and medical benefit programs, you want to offer 401k possibilities and more, it's time to get help.
A benefits administrator for your company is someone that can help figure all of these details out. You will want to interview some candidates, and here are some things to keep in mind when you are interviewing potential people for the job.
Outsource a Benefits Administrator
Understanding the benefits process and taking the time to manage it all can be very time consuming, even if you have office staff that do secretarial and administrative work. A benefits administration consultant can:
- Shop and compare rates for all medical insurance needs
- Enroll employees and manage health benefits
- Deal with 401k accounts and benefits
- Handle other insurances or benefits used by staff
You don't want to talk with multiple insurance companies, manage 401k contribution accounts or deal with other work when you have to run a business. Find a consultant and go from there.
Find an Administrator that Works from Home
It may be easiest to find an administrator that works remotely, so that you don't have to create an office space for them. This also prevents you from having to do these things:
- Worry about sick days not at the office
- Pay for holiday and personal days
- Pay the employee as a full-time staff member
Discuss the amount of hours the benefits administrator will work, if they plan to be a 1099 independent contractor and figure out what a fair price is to pay for their services.
Look at job postings and talk with other businesses and current benefits administrators to find out what a competitive wage is. The candidates for the jobs should submit their salary expectations, and then you may want to work to negotiate price.
If you know that you could have more affordable medical and dental insurance, and that you could be setting up retirement funds for your employees, stop wasting your money and find a trained professional that can help.
Talk with a few potential benefits administrators that would be interested in the job. Ask for their references and suggestions for your company, and go from there to hire someone that can get the work organized and managed more efficiently. Alternatively, you can reach out to a benefits administration consulting company, like Troy Benefits Consulting, for more information.