Jan 19, 2008

OPPORTUNITIES IN EMPLOYEE BENEFITS

"What opportunities are there for me in employee benefits?" Employee benefits is a broad discipline that offers opportunities for persons with a wide diversity of backgrounds. Some of these are the following:

Marketing majors. An important activity of any employee benefit provider is the marketing of its products and services to employers. These sales activities may be performed by commissioned agents of insurance companies, representatives of employee benefit consulting firms, and salaried employees of Blue Cross and Blue Shield plans or HMOs. Marketing departments of employee benefit providers also design and implement the sales activities of their firms.

Human resources majors. Human resources departments frequently have the task of communicating benefits to employees, and in many firms they may also administer the employee benefit program.

Finance majors. The employee benefit departments of many large employers are under the direction of the finance department. The finance department is often involved in the self-funding of benefits. Finance majors are also needed to determine investment strategies for the billions of dollars invested by retirement plans.

Insurance majors. Many employee benefits are sold by insurance companies.

Accounting majors. Accountants with public and private employers are often involved with employee benefit activities. Accountants in private practice frequently are in a position to advise clients about employee benefit decisions.

Communication majors. As employee benefits become increasingly complex and expensive, employers are demanding better communication of benefits to employees. This communication may involve in-house personnel or materials prepared by employee benefit providers or consulting firms.

Mathematics majors. The proper pricing of employee benefit products is an important function of the actuarial departments of employee benefit providers.

Social science majors. Many job opportunities for social science majors involve interaction with people and the giving of advice about programs to meet their needs. Better advice can be given with an understanding of social insurance programs, wellness programs, employee-assistance programs, dependent-care assistance programs, and the like.

Majors in medical fields. Today it is common for medical practitioners to be employed by benefit providers engaged in managed care activities. In fact, this is one of the growth areas for registered nurses.

The above list is merely meant as an example of the many opportunities available in the field of employee benefits. The providers of employee benefit products and services are diverse and, like any industry, need employees from a wide range of backgrounds.

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