Page 19 - Quality Industries
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Strategic processes and tools
02 — IDEAL Proile is a series of questions posed to your leadership that 04 — Industry benchmarking includes both internal and external data
identiies your collective belief system around how beneits should be sources speciic to your industry.
offered to employees. The results drive what beneits you offer, and the
overall strategy.
Determining sample company’s IDEAL Profile Sample Medical Benchmarking
Book of Business Details:
Industry: Manufacturing
Plan(s): PPO, HDHP
Enrollment Size: All
$1,000 Bubble size denotes enrollment volume
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 $900
population? financial security? not a differentiator
In addition to “benefits factor in What is your opinion from competitors? $800
traditional benefit equity” across delivering your on an employee’s Regarding the
packages, could employees? benefits choice of benefits? diverse needs of $700
employees benefit When strategy? your workforce,
from What is the Should an employer should employers $600
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
voluntary company’s responsibility to of providers, a small meet employee $500
benefits)? benefits, do you dependents? group of high- needs, pay for core HIGHER EMPLOYEE CONTRIBUTION ----->
What is the consider performing benefits and $400
primary purpose employee’s providers, incents provide options
of offering health members to use for other needs, or $300 HDHP
plans? disruption? high-performing stick to simple
PPO
providers (and limit HDHP Basic PPO
costs)? offerings? $200
Employees should be Benefits are a way to $100
ER should Influence Sensitive to Disrupting Economical Accountable for their create loyalty to
employee’s well-being employees
decisions company $0 0.5 0.55 0.6 0.65 0.7 0.75 0.8 0.85 0.9 0.95 1
I D E A L RICHER PLAN BENEFITS ----->
31 Sample Client Manufacturing Industry
1
Sample company’s IDEAL Profile Sample Medical plan contribution benchmarking –Manufacturing Industry
Avg. Monthly EMPLOYEE Contributions by Tier -PPO
Avg. Monthly EMPLOYEE Contributions by Tier -QHDHP
$700 $400
$600 $350
Your IDEAL scale aligns with the company profile of High D, High L. $500 $300
Strategies that disrupt employees need to carefully weigh the reasons for a change with the impact on $400 $250
$200
your workforce. It is important that your benefits package is valued by your employees and enhances their $300
engagement at work. $200 $150
$100
$100 $152 $395 $332 $572 $50
$0 $0 $88 $257 $226 $379
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
$1,600 $1,400
$1,400 $1,200
$1,200 $1,000
$1,000 $800
$800 $600
$600 $400
The belief system about how benefits should be offered can vary across your leadership. $400
$200 $472 $934 $846 $1,338 $200 $456 $905 $807 $1,298
$0 $0
32 EE EE+S EE+Ch Family EE EE+S EE+Ch Family
1
Quality Industries — Lockton Total Rewards Practice overview 19 Lockton Companies
02 — IDEAL Proile is a series of questions posed to your leadership that 04 — Industry benchmarking includes both internal and external data
identiies your collective belief system around how beneits should be sources speciic to your industry.
offered to employees. The results drive what beneits you offer, and the
overall strategy.
Determining sample company’s IDEAL Profile Sample Medical Benchmarking
Book of Business Details:
Industry: Manufacturing
Plan(s): PPO, HDHP
Enrollment Size: All
$1,000 Bubble size denotes enrollment volume
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 $900
population? financial security? not a differentiator
In addition to “benefits factor in What is your opinion from competitors? $800
traditional benefit equity” across delivering your on an employee’s Regarding the
packages, could employees? benefits choice of benefits? diverse needs of $700
employees benefit When strategy? your workforce,
from What is the Should an employer should employers $600
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
voluntary company’s responsibility to of providers, a small meet employee $500
benefits)? benefits, do you dependents? group of high- needs, pay for core HIGHER EMPLOYEE CONTRIBUTION ----->
What is the consider performing benefits and $400
primary purpose employee’s providers, incents provide options
of offering health members to use for other needs, or $300 HDHP
plans? disruption? high-performing stick to simple
PPO
providers (and limit HDHP Basic PPO
costs)? offerings? $200
Employees should be Benefits are a way to $100
ER should Influence Sensitive to Disrupting Economical Accountable for their create loyalty to
employee’s well-being employees
decisions company $0 0.5 0.55 0.6 0.65 0.7 0.75 0.8 0.85 0.9 0.95 1
I D E A L RICHER PLAN BENEFITS ----->
31 Sample Client Manufacturing Industry
1
Sample company’s IDEAL Profile Sample Medical plan contribution benchmarking –Manufacturing Industry
Avg. Monthly EMPLOYEE Contributions by Tier -PPO
Avg. Monthly EMPLOYEE Contributions by Tier -QHDHP
$700 $400
$600 $350
Your IDEAL scale aligns with the company profile of High D, High L. $500 $300
Strategies that disrupt employees need to carefully weigh the reasons for a change with the impact on $400 $250
$200
your workforce. It is important that your benefits package is valued by your employees and enhances their $300
engagement at work. $200 $150
$100
$100 $152 $395 $332 $572 $50
$0 $0 $88 $257 $226 $379
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
$1,600 $1,400
$1,400 $1,200
$1,200 $1,000
$1,000 $800
$800 $600
$600 $400
The belief system about how benefits should be offered can vary across your leadership. $400
$200 $472 $934 $846 $1,338 $200 $456 $905 $807 $1,298
$0 $0
32 EE EE+S EE+Ch Family EE EE+S EE+Ch Family
1
Quality Industries — Lockton Total Rewards Practice overview 19 Lockton Companies
