Resources
Key Areas of Management for Multiple Companies or Divisions
Managing benefit programs can be complex in general but when you’re responsible for multiple companies or divisions it may seem overwhelming. It certainly doesn’t have to be. We’ve been helping companies with divisions located across Canada to better simplify and administer benefit plans in a cost-effective manner. Here are 5 items we prioritize:
When it comes to Insurance, what are you really buying?
Why is price indicated as the number one priority most consumers indicate when shopping for insurance?
Setting Expectations for your Drug Plan
This is one of the largest areas of miscommunication we come across when we meet with new clients. Do you know what your staff expect from your benefit plan? Do you understand what is reasonable to provide for your staff?
Are you overpaying for Benefits?
I think the number one question every employee benefits advisor gets asked before they meet with a potential client is the same, “what can you do about the price we’re paying”? We definitely understand, the bottom line is important and we need to ensure that we’re being cognizant of that.
Communication is key or at least that's what my wife tells me...
So why aren't your professional advisors talking with one another? Everyone has professional advisors in their lives. Whether it be your financial advisor, your lawyer, accountant, group benefits consultant or even a parent or spouse. These advisors are people that you trust to look after areas that you know you aren't going to spend the time to fully learn and be able to do yourself. Because you trust them, in a lot of cases you implement their advice with mostly blind faith, and that's okay, but I'm here to suggest you ask for a little more out of them.
So You're Looking for Group Benefits...
You've decided to shop for a group benefit plan for your company, you don't know what to look for and where to begin and that can be dangerous. If you don't know what you're looking for, someone's going to tell you.