Data shows that most organizations are planning to increase the offerings in their employee benefits program in order to attract talent, retain talent and improve health outcomes.

42% of companies are planning to broaden their benefits structure within in the next two years. 52% of large employers anticipate making these kinds of changes, compared to 34% of smaller companies who have the same objective in mind. 52% of plan sponsors with wellness programs are also planning to expand their benefits packages.*

This is all part of an emerging trend. Rather than being limited by traditional employee benefits thinking, companies need to re-examine their assumptions and develop new models that better address the needs of employees and organizations alike.

In fact, when questioned about the realignment of their priorities, plan sponsors raised the issue that delivering programs that more accurately address their employees’ needs was just as important a factor as the goal of managing costs better. It is apparent that plan sponsors intend to invest more heavily in their employees, and deliver better wellness programs.

This can be more readily accomplished by retaining outside consultants who have special expertise in these areas, who can provide an unbiased point of view and assist in the development of more relevant employee benefits programs.

According to industry insiders, one formidable obstacle to establishing an enhanced comprehensive employee benefits program is the tendency to allocate diverse benefits into separate silos, rather than an integrated approach.

One example is the way benefits programs treat drug costs. While the concern is that a robust drug benefits program would be cost-prohibitive, the truth is this is often not the case. In any event, many experts feel that the companies’ specific corporate strategies and health outcomes should be driving any decision-making on a way forward.

All of this confusion can be dispelled if we drill down into the actual data and analyze what programs are congruent with the overall strategy of the organization. In that way, employee benefits programs can be expanded for the benefit of all. Contact the Dobson & Toncic team to find out more about how we can build a tailored Employee Benefits plan to suit your organization’s needs.

 * The Sanofi Canada Healthcare Survey 2015