We recently had an employer come to us describing some of the key issues her business faces when providing employee benefits:
“...the administrative burden has been too much for a small HR department. Our prices have been challenging and our choices are very limited. I'd like to do better for our employees.”
Unfortunately this is not uncommon.If cost challenges, limited choices and unsatisfied employees are issues you can relate to, making the switch to a defined contribution benefits model might be right for your business. Here are some steps to take to determine your best path forward:
- Clarify Your Goals
Is cost control the most important goal for your business? Or, are you looking to provide a best-in-class benefits package that offers employees choice? For different types of businesses in different locations, goals vary. As the quote above suggests, goals are often multi-faceted. Getting clarity is the first step to finding a better solution.
- Run the Numbers
With your employee benefits goals in mind, you're ready for a cost-benefit analysis. For employers weighing their options, we help by compiling a "Dynamic Financial Analysis". This instrument is custom-built for each unique situation and provides in-depth detail about costs and impact on both the business and each employee. We made it a truly dynamic tool, so we'll work with you to adjust your defined contribution levels and find the right balance for your goals.
NEW: We've just added another layer of detail about geographic coverage for health plans and more. If you haven't seen the latest version of the Dynamic Financial Analysis, contact us today to learn more.
- Define Your Timeline and Kick-off
The flexibility of Gravie's defined contribution benefits model means employers set their ideal level of contribution and employees get to choose the benefits that make sense for them.
After you make the decision to switch your business to Gravie, it's time to talk rollout. Similar to unique goals, your organization has a distinct culture. We'll work with you to determine the best strategy for communicating the benefits change to your employees and we’ll hold a Gravie kick-off meeting. During the kick-off meeting, we'll answer your employees’ questions and make sure they are comfortable with the change. We know that getting off on the right foot is important.
- Get Help for You and Your Employees
As shown in this brief video, Gravie's help for businesses and their employees doesn't stop at selecting benefits. Each Gravie member automatically gets Gravie Care, which includes smart technology and year-round support from licensed expert advisors. Advisors are available to help employees find in-network care, understand bills, research the cost of procedures, work through denied claims, and much more.
Having an expert resource in your employees' corner when it comes to benefits is a game changer. It takes the tough questions and administrative hassle off your plate and lets you focus on your business.
If you're feeling stuck in a traditional benefits rut, let's talk. You have options and we'll help you find the right path forward. Contact us today.