As a business owner, balancing your employees’ happiness with the cost of running your company can be a significant challenge. If you’re looking to trim expenses, it can be tempting to cut down your group benefits plan. While this may seem like an easy way to save some cash in the short run, however, care must be taken before slashing benefits.
As expensive as it may seem, offering robust coverage is essential to employee satisfaction and retention and has the potential to save you more than it costs. However, this is only true when you have a fully optimized sustainable benefits plan.
Optimizing Your Group Benefits Plan
Working with a benefits plan expert can help you reassess your current plan or create a new one from scratch, depending on your needs. Let’s take a look at some of the ways you can save money on the benefits you offer without having to sacrifice coverage.
1. Clarify Your Objectives
The benefits you offer your employees are a fundamental part of their total compensation package. This means that establishing clear company goals makes decision-making easier. Identifying your goals is the purpose of the Zarmac Objective Clarifier™, the first stage of our Employee Benefits Simplifier™. Understanding your goals allows you to focus on achieving them in a cost-effective way.
2. Profile Your Options
Despite paying for them, many employers don’t have a solid grasp on what happens “under the hood” of their benefits plan. Benefit Option Profiler™ removes the mystery, so you understand the impact of your plan now and in the future. Once you have a clear picture of the mechanics of your plan, you can ensure that you’re only paying for things that serve you.
3. Implementation and Support
Even if your benefits plan is well-conceived, implementing and maintaining it can seem intimidating — especially if you don’t have dedicated staff to handle it. The Simple Support Solution™ streamlines the change management process to make implementing your plan seamless for you and your team.
4. Assess Your Benefits Plan’s Sustainability
How can you be sure you continue to have the best plan for your objectives? No matter what plan you have, a Sustainability Report™ keeps you up to date with your current or anticipated changes. We can provide you with vital feedback on key services and new offerings available so you can continue to meet the goals of your benefits program. The report also conducts regular market surveys to verify the most competitive provider for your specific plan.
Crafting Sustainable Benefits with the Zarmac
By working with Zarmac, you can reap the benefits of a full, comprehensive benefits package without paying more than you can afford. Our Employee Benefits Simplifier™ provides a comprehensive platform for reporting, assessment, and evaluation to make sure you’re getting the most out of your plan.
Zarmac Benefits has been providing benefit programs to both new and established businesses for over 20 years. We take the time to analyze what you need and customize a benefits package specifically for your business style, now and for the future.
Zarmac provides critical analysis specific to your business to deliver real choices, advise on trends, streamline renewals, and optimize your plan design. We make it easy for you and your team by supporting the management of your program. We also proactively educate and eliminate questions to ensure there are no surprises.
Ready to protect your business and your team? Find out more about the Zarmac difference!