We are in the midst of a revolution in employee benefits.
With more responsibility being shifted onto employees to fund and manage their own benefits, the companies who win the war for talent and are widely recognized as the best companies to work for will not be those who spend the most money on employee benefits.
Instead, the most sought after employers will be those who do the best job helping employees most effectively manage their benefits to achieve their financial goals.
|Our clients have achieved the following results using our benefits planning programs:|
|Significantly increased in retirement plan participation and deferral rates.|
|Increased employee satisfaction with benefits.|
|Retained employees on the verge of quitting.|
|Improved morale after unpopular mergers and successfully integrated employees into parent company benefits.|
Within a year of providing benefits education to employees, deferral rates typically increase by 3-5% with plan participation increasing 15-20% for companies without auto-enrollment and to over 95% at companies with auto-enrollment.
Most of our large clients do annual employee benefits satisfaction studies. All have experienced an increase in employees’ appreciation of their benefits after implementing our benefits planning programs. In addition, 100% of employees indicate they better understand their benefits after participating in our benefits education and 99% consider benefits education to be an important component of their overall benefits package.
We have conducted benefits planning workshops at hundreds of locations across the country at risk of unionization. All union bids have failed after our benefits planning programs due to employees better understanding and appreciating their non-union benefits. Stronger labor management relations have resulted.
HR managers regularly hear from employees that our benefits education opened their eyes to the value of the benefits the company is providing and convinced them not to look for employment elsewhere. Here is an example of one employee’s story in the employee’s own words:
“I had my total rewards [meeting], and I have to say it was really good. I was seriously wanting to leave the company in the next year, but I really have much to think about now, I didn’t realize how good I really have it benefits wise. I’m actually really glad I work for [the company] in that respect.”