Intentional Plan Design (Benefit Tips ® - © 2014)
Have you ever wondered why small business owners spend their hard earned revenue on employee benefits? It’s because when benefit strategies are aligned to business strategies then easier to achieve business goals.
|Business Strategy||Benefit Strategy|
|Improve employee loyalty by developing a supportive corporate culture||Demonstrating care and concern for employees and their families during their time of need|
|Maximize market share by improving customer experience||Create a workforce advantage by attracting and retaining the best employees|
|Create a cost advantage with a productive workforce||Reducing turnover, providing a smooth egress for disabled and aging employees|
Once you understand the purpose of benefit you can turn your attention to which segments of your workforce to apply each strategy to. Some strategies will apply to all employees while others will focus on specific challenges unique to your organization and industry. Every detail of your benefit plan should map directly to a benefit strategy.