As the cost of providing health care benefits continues to skyrocket, analyzing your benefits program is a great opportunity to see how you stack up against others in your industry. An attractive benefits program is vital for your recruiting and retention efforts, and is also a significant expense. To ensure you are providing a package that is both competitive and economical, you need to know how your offerings compare to those of other employees in your industry.
The first step to successful benchmarking is to identify different aspects of your benefits and choose which are most costly and which are most important to your business's success. There is information available for almost any aspect of a benefits program, from total costs and plan design, to paid leave and workers' compensation.
Click here for a free download on the importance of benchmarking, or contact a knowledge broker at R&R to see how you measure up against the competition.