Q1 Panel Recap: Benefits

Employee benefits, strategy, and culture are interconnected aspects of an organization that can have a significant impact on its success.  As a part of our holistic approach, we align a proactive risk mitigation planning with organizational initiatives to promote benefits sustainability and longevity.   

Benefits:  

• Employee benefits are an important part of an organization’s compensation package also referred to as Total Rewards. They can include health insurance, paid time off, lifestyle spending accounts, and tuition reimbursement plans. Offering a strong benefits package that is aligned with population demographics can help attract and retain top talent.  

Strategy:  

• Development of a targeted strategy is imperative to achieve short and long-term goals ranging from plan design offerings, financial objectives, or creating a culture of well-being.   By aligning pointed solutions and leveraging client specific claims data we’re able to implement purposeful solutions to mitigate risk and quantify employers return-on-investment.  Through our strategic process we focus on proactively identifying opportunities to support longevity and sustainability while at the same time aligning with organizational initiatives.    

Culture:  

• For the first time in history the workforce is comprised of five generations, so it’s no surprise that employers all of sizes and industries are focused on culture.  The formal definition of work culture is the character and personality of your organization; however, how you personally or even organizationally view culture probably varies.  Now, layer in a workforce comprised of five generations and that definition becomes even more complex.   Culture is an important component and guiding principal of any strategy, including how you approach and manage benefits.  We focus on understanding population demographics and what those employees value to create a feasible and meaningful strategy.  A positive culture can help foster employee engagement, collaboration, and productivity. It can also help attract like-minded individuals who are a good fit for the organization. 

In closing, when benefits, strategy, and culture are aligned, it creates a strong foundation for an organization’s success.

Watch the entire panel here: https://youtu.be/s8jPQW20APU