Human Resource Departments have the difficult task of providing quality employee benefits while keeping costs low. The structure and complexity of savings, pension, stock options and health & welfare administration are areas that can help keep costs low.
In this study Best Practices, LLC benchmarks the Resources and Complexity of Benefits Functional Areas at 20 leading firms. The study benchmarks effective organizational structure and complexity, operation and delivery, vendor management, compliance and customer service for savings, pension, stock options, and health & welfare administration, using metrics that provide valuable information for executive to improve the efficiency of their programs.
This 93 slide presentation helps provide insight into designing cost-effective savings, pension, stock options and health & welfare administration programs. The study includes metrics for internal versus external vendor stage ownership, number of participants per FTE, cost per participant, plan provisions, participation levels and customer service efficiency.