A total compensation package to attract key talent is not only limited to salary. Next to salary and retirement benefits, having a good employee benefits plan is one of the best ways for you to attract and retain employees.
Our process will help you find out if your current employee benefits plans are on track or need adjustment to meet your business objectives.
Discovery Meeting
- Review your current situation
- Discover your company’s objectives that reflects both employer and employee needs.
Conduct a Needs Assessment
- Based on your objectives and the needs and wants of your employees, we conduct a needs analysis to determine the best benefits selection and design.
- If you have an existing benefits plan, we will review your existing plan and determine if it’s still suitable for your business and meets your employee’s needs.
- Determine your budget, it’s important to determine the cost-efficiency of a benefits plan.
Gather Data
- Gather employee data
- Identify benefits your company would like to include such as: extended health care, dental, life and disability insurance, critical illness insurance, accidental death and dismemberment, health spending account, wellness programs etc.
- Determine your budget and figure out if the plan will be non-contributory or contributory.
Analysis and Present Plan Design
- Once we have the needs assessment and data, we will analyze both and design a benefits plan that meets your company’s objectives.
- This process can be complex since there are many factors to take into consideration.
- We will present this plan to you and discuss next steps.
Implementation and Communication to Employees
- Once we’ve implemented the benefits plan we need to ensure that it’s communicated to your employees.
- Our communication strategy will include creating awareness and appreciation of the benefits plan, provide a high level understanding of the benefits offered and encourage thoughtful use of benefits.
Regular review
- The benefits plan should be regularly reviewed to ensure it continues to align with your company’s objectives and employees needs.
