We are well into the second half of 2020 and many employers are getting closer to their benefits renewal. Now is the time to implement your benefits package strategically and leave the traditional approach in the past.
A traditional approach to renewal planning consists of taking the one to two months prior to renewal to focus on your insurance (rate quotes, plan design, carrier selection and open enrollment).
While the traditional approach covers important areas, it typically leaves employers with two options:
Increase your budget to pay for the same benefits
Decrease the benefits you offer to keep expenses level
The strategic approach to your renewal allows employers to cover the important insurance decisions while also incorporating non-insurance solutions centered around your company\’s goals.
A strategic approach to your benefits will allow you to:
Improve your return on investment
Increase employee engagement
Boost employee retention and recruitment
Our team is happy to help your business with a strategic approach to your benefits.