Asked by Nellies Asante on May 06, 2024
Verified
Often,organizations will contract out a portion of their benefits administration to "product providers."
Benefits Administration
The management and operation of a company's employee benefits program, including health insurance, retirement plans, and other fringe benefits.
Product Providers
Companies or entities that manufacture or supply goods and services to the market or to other businesses.
Contract Out
The process of hiring external contractors to perform services or tasks traditionally handled by internal staff or resources.
- Familiarize oneself with the merits and demerits of externalizing human resources functions, with a focus on salary management.
Verified Answer
Learning Objectives
- Familiarize oneself with the merits and demerits of externalizing human resources functions, with a focus on salary management.
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