HR Glossary for HR Professionals
Glossary of the most common HR terms and acronyms to assist professionals navigating the ever-growing and ever-changing world of HR terminology.
What is a Benefits Provider?
A benefit provider is a vendor that manages benefits programs. In other words, benefits providers manage employer benefits programs, allowing employers the opportunity to offer more benefits options to employees. Certainly, this saves employers time, money, and provides a lower probability of human error.
Choosing a benefits provider:
Selecting the right provider for your business is important! They need to be a reliable partner that can deliver benefits that will help you attract and retain your top talent.
Before you choose a benefit provider, you need to know there are four major types of providers. These include insurance companies, benefits administration software platforms, professional employer organizations (PEOs), and niche benefits providers.
Related Terms: Floating Holidays