Smith Industries considering having another company take care of its benefits management is called ___.

The term that describes Smith Industries considering having another company take care of its benefits management is outsourcing. Outsourcing refers to the practice of hiring external organizations or individuals to perform tasks or manage processes that are typically handled internally by a company. In the context of benefits management, this can involve transferring responsibilities for designing, implementing, and administering employee benefits to a specialized service provider, which can result in cost savings, access to expert knowledge, and allowing the company to focus on its core activities.

Staff augmentation, consulting, and job-sharing represent different concepts. Staff augmentation involves supplementing the existing workforce with additional personnel, often temporary, to handle specific projects or workloads. Consulting typically involves hiring an expert to provide advice or guidance on specific issues without transferring the responsibility of ongoing management. Job-sharing is a work arrangement where two or more employees share the responsibilities of a single job position, which is distinct from the concept of outsourcing entire functions or services.