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In today’s increasingly complex business environment, employing human capital can be overwhelming to keep up with for companies of every size. BCG works with companies with just a few employees to organizations with thousands of employees.
Employee Benefit Strategic Planning
While many other benefit consulting companies are intent on selling you off-the-shelf products, BCG’s approach to benefit plan design is to first invest the time with you to fully understand your vision for human capital utilization, and to understand your business goals and objectives. We thoroughly review your current and past programs to determine any gaps in coverage or services based on your specific business and employee circumstances. Finally, we review all available options in the marketplace and analyze their cost and financial impact on your business. Only then will we recommend the mix of products and services that will return the greatest value to your business.
Functional elements of our unique and comprehensive employee benefits strategic planning process include:
Benefit Cost is Always a Consideration—Our Focus is To Return More For Your Investment
- Comprehensive Program Analysis
- Compliance Review and Ongoing Compliance Strategy
- Benefit Trending Analysis
- Competitor and Benchmark Analysis
- Employee Demographic and Usage Assessment
- Comparative Market Analysis
- Employee Benefits Needs Assessment
- Executive Summary of Benefits Options and Cost
- Forward-Looking Ongoing Review to Prevent Obsolescence
- Development of a Multi-Year Strategy
- Benefit Cost Modeling at the Employee and Company Levels
- Benefit Program Funding Strategies
- Health Plan Forecasting
- Initial and Ongoing Employee Communication Strategies
- Initial and Ongoing Management Communication and Reporting Strategies
The rising cost of health care and other benefits is forcing many companies to rethink and reduce their benefits programs—at a time when benefits are playing a more significant role in attracting and retaining top talent.
The significant difference between BCG and others is our superior level of service. While it is easy to talk about service, consistently delivering outstanding personalized service, attention to detail and access to services and expertise that go far beyond the scope of employee benefits design and implementation is the hallmark of BCG’s success.
Here are just a few of the ways BCG is different and offers you greater value for your employee benefits program investment:
In short, we pay for ourselves!
- Flexibility: BCG builds a high degree of flexibility into every employee benefits plan to allow for directional changes within your organization as you grow and corporate priorities change.
- Choice: Our in-depth analysis, independence, and strategic planning allow us to design a benefits program that will meet the needs of a dynamic workforce and diverse employee demographic.
- Independence: BCG works exclusively on your behalf—not on the behalf of insurance companies or other vendors. We are free to seek out the very best carriers that will deliver the highest value to you.
- Education and Communication: BCG provides a high level of communication and contact with employees to help them understand their benefits programs and to educate them about the total value of the benefits that are being provided to them by the company.
- Business Strategic Thinking: BCG does not strive to sell products—we engage in understanding your business strategies and your objectives for utilizing human capital to meet your business goals. We understand how to design a benefits plan that supports your corporate mission.
- Cutting-Edge: BCG continually monitors the market regulatory arena to keep your company at the leading edge of employee benefits utilization.
- Cost reduction: BCG’s key focus is to reduce your overall benefits cost while providing added value to the company and employees. We do this by avoiding cookie-cutter solutions and off-the-shelf products in favor of understanding your business model and budget, and working diligently to deliver extraordinary value within those parameters.
- Compliance: Few areas of benefit programs concern employers more than whether their programs remain in full compliance with fast-changing regulations. BCG’s employee benefit specialists continually monitor and train on all new regulatory changes to provide our clients the peace of mind that their benefits programs are indeed in full compliance at all times.
- Eases Your HR Burden: Whether you look to BCG for consulting that supports your HR staff, or to outsource your entire benefits and HR functions, our specialists will reduce your staff’s workload, allowing them to focus on strategic business functions.
- Expert Personnel: BCG seeks out and grows top talent through continuing education, continual training and experience gained by working with leading, progressive clients.
- Accessibility: Our employee benefit specialists are available to you when you need them.
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