Why Should I Customize the Benchmark Data To Fit Me?

To strategize…
Customized benchmark data helps to strategize about what level of benefits you want to offer. Do you want a richer benefits package or is it time for a change that aligns you with your peers?

To manage costs….
It helps develop a plan of action to budget for potential increases in health insurance premiums instead of just being ‘satisfied’ with a sudden 15 percent or higher increase.

To showcase value…
Custom benchmark data provides insights to make the right decisions moving forward to ensure employees have the most competitive or comparable benefits package in their industry. But most importantly provides the data to communicate to employees the tremendous value you are offering.

When should I benchmark?

With health care reform rapidly changing the benefits landscape it is more important than ever to stay competitive. Companies should evaluate the competitiveness of their benefits at least once a year. If your company isn’t benchmarking its benefits program annually, you may be paying too much. This data can also uncover possible overlooked areas of non-compliance.

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