Page 18 - E.C. Barton
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Strategic processes and tools
02 — IDEAL Proile is a series of questions posed to your leadership that 04 — Benchmarking includes both internal and external data sources
identiies your collective belief system around how beneits should be speciic to the industry.
offered to employees. The results drive what beneits you offer, and the
overall strategy. Medical plan benchmarking (Retail Industry)
Retail Benchmarking
Book of Business Details:
Determining sample company’s IDEAL Profile $1,000 Enrollment Size: All Bubble size denotes enrollment volume
Industry: Retail Trade
Plan(s): PPO, HDHP
$900
What is your view What is your Is controlling What is the Are your benefit
on promoting a philosophy costs the most employer’s role in offerings a
healthy employee toward important your employee’s differentiator or $800
population? financial security? not a differentiator
In addition to “benefits factor in What is your opinion from competitors? $700
traditional benefit equity” across delivering your on an employee’s Regarding the
packages, could employees? benefits choice of benefits? diverse needs of $600
employees benefit When strategy? your workforce,
from What is the Should an employer should employers $500
nontraditional considering offer a plan that offer an array of
benefits (i.e., changes to your employer’s offers a broad range benefit plans that HIGHER EMPLOYEE CONTRIBUTION ----->
voluntary company’s responsibility to of providers, a small meet employee $400
benefits)? benefits, do you dependents? group of high- needs, pay for core PPO
What is the consider performing benefits and $300 Buy-Up
primary purpose employee’s providers, incents provide options
of offering health members to use for other needs, or HDHP HDHP Basic
plans? disruption? high-performing stick to simple $200
providers (and limit
costs)? offerings? $100
Employees should be Benefits are a way to
ER should Influence Sensitive to Disrupting Economical Accountable for their create loyalty to $0
employee’s well-being employees 0.5 0.55 0.6 0.65 0.7 0.75 0.8 0.85 0.9 0.95 1
decisions company
I D E A L RICHER PLAN BENEFITS -----> Retail Industry
Sample Client
31
Medical plan contribution benchmarking –(Retail Industry) 1
Avg. Monthly EMPLOYEE Contributions by Tier –(PPO)
Sample company’s IDEAL Profile Sample $1,000 $700 Avg. Monthly EMPLOYEE Contributions by Tier –(QHDHP)
$600
$800
$500
$600 $400
Your IDEAL scale aligns with the company profile of High D, High L. $400 $300
$200
Strategies that disrupt employees need to carefully weigh the reasons for a change with the impact on $200 $204 $644 $518 $933 $100
your workforce. It is important that your benefits package is valued by your employees and enhances their $0 $0 $139 $436 $352 $582
engagement at work. EE EE+S EE+Ch Family EE EE+S EE+Ch Family
Avg. Monthly EMPLOYER Contributions by Tier – (PPO) Avg. Monthly EMPLOYER Contributions by Tier – (QHDHP)
$1,200 $1,000
$900
$1,000 $800
$800 $700
$600
$600 $500
$400
$400 $300
$200 $200
$420 $689 $644 $964 $100 $387 $653 $604 $913
The belief system about how benefits should be offered can vary across your leadership. $0 $0
EE EE+S EE+Ch Family EE EE+S EE+Ch Family
32
1
E.C. Barton — Lockton Employee Beneits Practice overview 18 Lockton Companies
02 — IDEAL Proile is a series of questions posed to your leadership that 04 — Benchmarking includes both internal and external data sources
identiies your collective belief system around how beneits should be speciic to the industry.
offered to employees. The results drive what beneits you offer, and the
overall strategy. Medical plan benchmarking (Retail Industry)
Retail Benchmarking
Book of Business Details:
Determining sample company’s IDEAL Profile $1,000 Enrollment Size: All Bubble size denotes enrollment volume
Industry: Retail Trade
Plan(s): PPO, HDHP
$900
What is your view What is your Is controlling What is the Are your benefit
on promoting a philosophy costs the most employer’s role in offerings a
healthy employee toward important your employee’s differentiator or $800
population? financial security? not a differentiator
In addition to “benefits factor in What is your opinion from competitors? $700
traditional benefit equity” across delivering your on an employee’s Regarding the
packages, could employees? benefits choice of benefits? diverse needs of $600
employees benefit When strategy? your workforce,
from What is the Should an employer should employers $500
nontraditional considering offer a plan that offer an array of
benefits (i.e., changes to your employer’s offers a broad range benefit plans that HIGHER EMPLOYEE CONTRIBUTION ----->
voluntary company’s responsibility to of providers, a small meet employee $400
benefits)? benefits, do you dependents? group of high- needs, pay for core PPO
What is the consider performing benefits and $300 Buy-Up
primary purpose employee’s providers, incents provide options
of offering health members to use for other needs, or HDHP HDHP Basic
plans? disruption? high-performing stick to simple $200
providers (and limit
costs)? offerings? $100
Employees should be Benefits are a way to
ER should Influence Sensitive to Disrupting Economical Accountable for their create loyalty to $0
employee’s well-being employees 0.5 0.55 0.6 0.65 0.7 0.75 0.8 0.85 0.9 0.95 1
decisions company
I D E A L RICHER PLAN BENEFITS -----> Retail Industry
Sample Client
31
Medical plan contribution benchmarking –(Retail Industry) 1
Avg. Monthly EMPLOYEE Contributions by Tier –(PPO)
Sample company’s IDEAL Profile Sample $1,000 $700 Avg. Monthly EMPLOYEE Contributions by Tier –(QHDHP)
$600
$800
$500
$600 $400
Your IDEAL scale aligns with the company profile of High D, High L. $400 $300
$200
Strategies that disrupt employees need to carefully weigh the reasons for a change with the impact on $200 $204 $644 $518 $933 $100
your workforce. It is important that your benefits package is valued by your employees and enhances their $0 $0 $139 $436 $352 $582
engagement at work. EE EE+S EE+Ch Family EE EE+S EE+Ch Family
Avg. Monthly EMPLOYER Contributions by Tier – (PPO) Avg. Monthly EMPLOYER Contributions by Tier – (QHDHP)
$1,200 $1,000
$900
$1,000 $800
$800 $700
$600
$600 $500
$400
$400 $300
$200 $200
$420 $689 $644 $964 $100 $387 $653 $604 $913
The belief system about how benefits should be offered can vary across your leadership. $0 $0
EE EE+S EE+Ch Family EE EE+S EE+Ch Family
32
1
E.C. Barton — Lockton Employee Beneits Practice overview 18 Lockton Companies
