Benefits Plan Strategy and Design
Designing tailored benefits programs that your employees actually want and need
It’s Hard to Please Everyone With Employee Benefits
Designing the benefits program your employees deserve without stressing your organization’s financial resources can leave you stuck between a rock and a hard place. Every company is striving to give their employees the best benefits without paying top price. Even then, you may feel like a large portion of your employees don’t even see the value in the benefits you provide. Is your costly employee benefits plan producing any real benefit for employees?
Determining which benefits best meet the diverse needs of your employees — and without spending too much — requires a comprehensive analysis of your workforce. Understanding the unique makeup of your workforce allows you to identify the benefits that are most impactful and valued by your workforce. For example, employees from Generation Z want and need very different benefits from Baby Boomers, and employees in a transportation company want very different benefits from an accounting firm. You’ll need to gather the employee feedback, demographics, usage patterns, industry trends, and competitor intelligence, and then put it all together to see the bigger picture and way forward. Without specialized tools and expertise, this is time consuming and can take up far more time than you can afford to spend.
Using Data to Solve the Benefits Plan Puzzle
Using our sophisticated analytics tools and deep benefits expertise, we help you put your employees and their families at the center of your benefits plan design. We conduct a meaningful analysis that then allows for a strategic plan design. This helps you maximize your benefits spend in a way that gives your employees what they really want.
Do you already have the right plan design and communication strategy in place to complement your Employee Value Proposition? Sounds like your employees are taken care of and you should keep the program you have. The next step is to make your finance team happy. Find out how we help you manage the risks and save money on your insurance contracts and forecast long-term costs.
67%
of plan members have been diagnosed with one or more chronic conditions and/or have chronic pain.
– Source: 2022 Benefits Canada Survey
Is your benefits and wellness program designed for the health conditions your employees face, while keeping costs sustainable?
Want to see if there’s room for improvement in your benefits plan?
Get in touch with us to learn how you can build — or optimize — a benefits program that helps your employees reach their health, wealth, and wellness goals.