Administration of benefits and services

The administration of benefits and services is a systematic approach

to the problem of ensuring that the employees are paid in a logical,

equitable, and fair manner.

Organization have seldom establish objective and standards to

determine the appropriateness of the programme.

Significance of administration and benefits

Deciding the fringe benefit policy, plan and budget.

Deciding a fair and justifiable fringe benefits.

It also influence the employees attitude towards the work and the

management

It helps in controlling the cost to the company

It helps in employee satisfaction and also brings industrial harmony.

To increase productivity and quality.

To ease out union problem

Problems in Administration

The main problems in indirect remuneration is a lack of employees

participation .

Once the fringe benefit programme is designed by the company employees have

little discretion.

For example, the pension scheme is granted to all the workers. Yonger

employees see pension as a distant and largely irrelevant but for older

employees it is useful.

The lack of knowledge about the benefits often cause confusion and

dissatisfaction about their fringe benefit package

Future of Fringe benefit

Current benefit package have evolved over the year from plans that address the basic needs of the worker and provided minimum benefits to the individual. Today we see a much more complex pattern of plans with enhanced flexibility, tailored to meet the needs of individual. Employees in general are more educated and more demanding of remuneration including fringe benefits. Employers are, therefore, required to devise newer benefits plan to attract and retain competent personnel.

Employee Leasing

Employee leasing are arrangements in which businesses lease

their employees through an outside contractor that attends to

the various personnel-related activities commonly associated

with human resources management.

Popular among small-and mid-sized companies

The Advantages of Employee Leasing

Increased Focus on Core Competencies

Employee leasing allows you to concentrate on the parts of your business

that you do best. By not having to focus on the usual responsibility of

managing your in-house personnel, you have more time to focus on your

company's core competencies, such as meeting and acquiring new clients

or coming up with marketing ideas for your business. In addition,

employee leasing frees you from worrying about employment policy and

procedure issues.

Reduced Risk and Liability

Employee leasing allows you to reduce risk and liability in your company, usually present in managing and training in-house employees. Since most employee leasing companies specialize in a particular field, you are assured that you are hiring experts in their own field.

These employee leasing companies also have account managers, trainers and quality assurance specialists who support your leased staff through the course of your project.

These key people help your leased personnel perform the assigned tasks to the best of his ability through training, feedback, progress reports and even answering whatever work-related questions you may have concerning your leased staff.

Employee Benefits' Savings

Employee leasing allows you to save on employee benefits. You pay a fixed monthly salary per leased staff member to the employee leasing company.

In some cases, you may elect to give the leased employee performance incentives in the form of cash if he meets or exceeds his project quota.

Some employee leasing companies encourage their clients (in this case, you) to add a bonus check on top of the leased employee's salary either through the staff leasing company or by sending the money or check directly to the employee; however, it is the duty of the employee leasing company to shoulder your leased employee's health insurance, paid leave, sick leave and other employee benefits you normally pay in-house employees.

How to Create Effective Employee Benefit Programs?

Creating effective employee benefit programs typically involve the human resources department. They store and maintain hiring information and distribute benefit packages within a company.

Therefore, any manager looking to create effective employee benefit programs must consult with them to ensure that it can be implemented based on the budget constraints provided to them by the finance and accounting departments.

Learning what the employees want and measuring the company's return on investment helps to create effective employee benefit programs that both employers and workers can live with.

Guidelines

Find out the needs of your workers. Take a survey of the employees. Have them rank in order of importance their work-life balance values. For example, workers may desire a more flexible work schedule rather than a monetary raise. This could be included within the basic federal mandated benefits, such as disability insurance.

Provide an open forum to discuss feedback from employees. In some cases, verbal comments generate better information because of the opportunity to elaborate. You can learn the reasons behind the survey results. Perhaps, there are personal issues that a better work-life balance can effectively improve with a good benefit program.

Align the benefit programs to protect the financial interests of the employees. Retirement, health care and disability are the common benefits granted to workers. Usually, you must go beyond the regular benefits and incorporate a program that has strategic incentives. For instance, tuition reimbursement could be an effective employee benefit program to acquire, retain and motivate employees.

Measure the return on investment for the bottom-line. Calculate this by using a spreadsheet or online calculator. You must know your current status and estimate the increase in profits, productivity, etc. Look for online research statistics and case studies from companies within your industry that implemented similar benefit packages. Find out the long-term company benefits, such as higher productivity and lower turnover, for having shared more perks

FRINGE Benefits

Marginal extra earnings to make workers feel comfortable at the workplace or to perform their duty.

Commonly offered Fringe benefits

To secure employmentTo protect the health of employeesTo provide old age/retirement benefitsTo recognize an individual

To secure employment

Unemployment insuranceNotice period paymentPayments for holiday, vacation period and

medical leave period Call back pay and lay off pay to ensure some

part of future liabilitiesSufficient money at the time of retrenchmentContribution for provident fund

To protect the health of employees

Group insurance and accidental insurance to be paid by the company

Hospitalization and subsidized medical facilities or reimbursements

Sick benefits, maternity benefitsMediclaim and life insurance payments by

the company

To provide old age/retirement benefits

Gratuity and pension payment Employer’s contribution for provident fundOld age free counseling and assistanceMedical assistance after retirementTraveling concessions after retirementJobs to heirs of the deceased employee

To recognize an individual

Anniversary awardsAttendance bonusEducational facilities for childrenFree housing and transportIncome tax aids/ free legal services

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