Boca Benefits Consulting Group Inc.

We have indicated to our clients and colleagues for some time now that many employers do not receive adequate return for the investment they make in providing the financial/administrative platform for brokers and carriers to make direct sales to their employees. We have written more extensively on this subject in several of our The Insight e-newsletters. Issue 08.5.2 can be viewed directly by clicking here. We can also provide a copy via an email request to editor@bocabenefits.com. Our entire e-newsletter archive is available by clicking here: e-newsletter archive. A summary of our thoughts is below:

• Make sure you receive some level of service from the commissions earned by the broker on the voluntary benefits that are sold to your employees. You should know what the commission loads on the products are and if you are properly sharing. It is not uncommon for top brokers to forego over half the commissions payable via splits with service companies that bring added value to the client.
• Most often these are one-on-one enrollment services provided by a third party vendor and associated communication pieces.
• Communications are uniquely designed specifically to deliver the messages you want going to your employees.
• Voluntary enrollments can be packaged with your core benefit enrollments and the data can be electronically uploaded to your core benefit carriers.
• If you are presently using a voluntary benefits carrier that does not provide these kind of services, BBCG can assist you with a change.

We have been strong supporters of using broker commissions on voluntary benefits to finance on-site, laptop-captured, enrollments and communications packages provided by specialty companies. There are Read the rest of this entry »

There are a number of pressing issues facing employers today including: employee loyalty, retirement and an aging workforce, health and wellness, employee advice and guidance, and the alignment of benefits objectives and strategies. The online benefits benchmarking tool BBCG can make available can help you address these challenges by providing the data you need to determine how your organization measures up compared to similar companies, with the goal to remain competitive in attracting and retaining top employee talent.

In our presentation we will show you how to use the insights contained in an industry-leading benefits benchmarking tool to help you maximize the effectiveness of benefits plans and be responsive to your employees’ benefits priorities.

It will help you answer such questions as:

• Are benefits strategies and objectives on target with a company’s peers’?
• How important are benefits in addressing the goals of attraction and retention of talented workers in a particular industry or region of the country?
• Which benefits are most commonly offered among a company’s peers, and which are most important to employees with similar characteristics?
• How do employees’ attitudes toward their benefits vary by generation?
• Which demographic groups of the workforce say their benefits communications effectively educate them?

For our clients and soon to be clients, we have a link to a one hour benchmarking webinar recently conducted in conjunction with Employee Benefits News. Please contact us at benchmarking@bocabenefits.com to set up an appointment to view the webinar with us.

Critical reading for: CEO/HR Director/Benefits Manager/CFO.
BBCG in conjunction with a major national carrier is now
capable of benchmarking for clients, and soon to be clients,
various employee benefit plan criteria against empirical
market research for peer companies as a means of attracting and retaining ciritical
talent. Industry, geographic region, company size,
profit or non-profit, public or private, employee generational/age parsing,
executive/white/blue collar parsing are all available to establish the analysis base.
Customized query criteria determined by client based on things about which it wants to know.

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