Page 26 - Walden Security
P. 26
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
Medical plan benchmarking (Automotive Manufacturing)
overall strategy. Medical plan benchmarking (Automotive Manufacturing)
Medical Plan Manufacturing and Automotive Industry Benchmarking versus Yorozu
Medical Plan Manufacturing and Automotive Industry Benchmarking versus Yorozu
Book of Business Details: Book of Business Details: Technology/Education Services
Industry: Manufacturing, Automotive (excluding Auto Dealers)
Industry: Manufacturing, Automotive (excluding Auto Dealers)
Determining sample company’s IDEAL Profile $1,000 Enrollment Size: All $1,000 Enrollment Size: All Bubble size denotes enrollment volume Bubble size denotes enrollment volume
Plan(s): PPO, HDHP
Plan(s): PPO, HDHP
$900 $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 $800 $800
healthy employee toward important your employee’s differentiator or
population? financial security? not a differentiator
In addition to “benefits factor in What is your opinion from competitors? $700 $700
traditional benefit equity” across delivering your on an employee’s Regarding the
packages, could employees? benefits choice of benefits? diverse needs of $600 $600
employees benefit When strategy? your workforce,
from What is the Should an employer should employers $500 $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 -----> HIGHER EMPLOYEE CONTRIBUTION ----->
voluntary company’s responsibility to of providers, a small meet employee $400 $400
benefits)? benefits, do you dependents? group of high- needs, pay for core
What is the consider performing benefits and $300 $300
primary purpose employee’s providers, incents provide options PPO PPO
of offering health members to use for other needs, or
plans? disruption? high-performing stick to simple $200 $200 HDHP HDHP
providers (and limit
costs)? offerings? $100 $100 Base Standard Base Standard
Employees should be Benefits are a way to $1,000 Plan $1,000 Plan
ER should Influence Sensitive to Disrupting Economical Accountable for their create loyalty to $0 $0
employee’s well-being employees 0.5 0.55 0.6 0.5 0.65 0.55 0.7 0.6 0.75 0.65 0.8 0.7 0.85 0.75 0.9 0.8 0.95 0.85 1 0.9 0.95 1
decisions company
I D E A L RICHER PLAN BENEFITS -----> RICHER PLAN BENEFITS ----->
Sample Client
Yorozu
Automotive and Manufacturing
31 1 Yorozu Automo 1tive and Manufacturing Technology/Education Services
1 1
Medical plan contribution benchmarking – Technology/Education Services
Sample company’s IDEAL Profile Sample $800 Avg. Monthly EMPLOYEE Contributions by Tier $800 Avg. Monthly EMPLOYEE Contributions by Tier
$700
$600
$600 $760 $700 $731
$500 $500
Your IDEAL scale aligns with the company profile of High D, High L. $400 $435 $480 $400 $505 $436
$300 $163 $191 $300 $361
Strategies that disrupt employees need to carefully weigh the reasons for a change with the impact on $200 $109 $91 $119 $200 $155
your workforce. It is important that your benefits package is valued by your employees and enhances their $100 $194 $33 $51 $113 $100 $148
engagement at work. $0 $15 $15 $105 $48 $0
EE EE+S EE+Ch Family EE EE+S EE+Ch Family
Base Standard $1,000 Bronze
Avg. Monthly EMPLOYER Contributions by Tier - PPO Avg. Monthly EMPLOYER Contributions by Tier - QHDHP
$1,400 $900
$1,200 $800
$700
$1,000 $600
$800 $500
$600 $400
$300
$400 $200
$200 $100
$420 $898 $740 $1,182 $362 $590 $528 $818
$0 $0
The belief system about how benefits should be offered can vary across your leadership. EE EE+S EE+Ch Family EE EE+S EE+Ch Family
32
1
Walden Security — Lockton Employee Beneits Practice Overview 26 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
Medical plan benchmarking (Automotive Manufacturing)
overall strategy. Medical plan benchmarking (Automotive Manufacturing)
Medical Plan Manufacturing and Automotive Industry Benchmarking versus Yorozu
Medical Plan Manufacturing and Automotive Industry Benchmarking versus Yorozu
Book of Business Details: Book of Business Details: Technology/Education Services
Industry: Manufacturing, Automotive (excluding Auto Dealers)
Industry: Manufacturing, Automotive (excluding Auto Dealers)
Determining sample company’s IDEAL Profile $1,000 Enrollment Size: All $1,000 Enrollment Size: All Bubble size denotes enrollment volume Bubble size denotes enrollment volume
Plan(s): PPO, HDHP
Plan(s): PPO, HDHP
$900 $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 $800 $800
healthy employee toward important your employee’s differentiator or
population? financial security? not a differentiator
In addition to “benefits factor in What is your opinion from competitors? $700 $700
traditional benefit equity” across delivering your on an employee’s Regarding the
packages, could employees? benefits choice of benefits? diverse needs of $600 $600
employees benefit When strategy? your workforce,
from What is the Should an employer should employers $500 $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 -----> HIGHER EMPLOYEE CONTRIBUTION ----->
voluntary company’s responsibility to of providers, a small meet employee $400 $400
benefits)? benefits, do you dependents? group of high- needs, pay for core
What is the consider performing benefits and $300 $300
primary purpose employee’s providers, incents provide options PPO PPO
of offering health members to use for other needs, or
plans? disruption? high-performing stick to simple $200 $200 HDHP HDHP
providers (and limit
costs)? offerings? $100 $100 Base Standard Base Standard
Employees should be Benefits are a way to $1,000 Plan $1,000 Plan
ER should Influence Sensitive to Disrupting Economical Accountable for their create loyalty to $0 $0
employee’s well-being employees 0.5 0.55 0.6 0.5 0.65 0.55 0.7 0.6 0.75 0.65 0.8 0.7 0.85 0.75 0.9 0.8 0.95 0.85 1 0.9 0.95 1
decisions company
I D E A L RICHER PLAN BENEFITS -----> RICHER PLAN BENEFITS ----->
Sample Client
Yorozu
Automotive and Manufacturing
31 1 Yorozu Automo 1tive and Manufacturing Technology/Education Services
1 1
Medical plan contribution benchmarking – Technology/Education Services
Sample company’s IDEAL Profile Sample $800 Avg. Monthly EMPLOYEE Contributions by Tier $800 Avg. Monthly EMPLOYEE Contributions by Tier
$700
$600
$600 $760 $700 $731
$500 $500
Your IDEAL scale aligns with the company profile of High D, High L. $400 $435 $480 $400 $505 $436
$300 $163 $191 $300 $361
Strategies that disrupt employees need to carefully weigh the reasons for a change with the impact on $200 $109 $91 $119 $200 $155
your workforce. It is important that your benefits package is valued by your employees and enhances their $100 $194 $33 $51 $113 $100 $148
engagement at work. $0 $15 $15 $105 $48 $0
EE EE+S EE+Ch Family EE EE+S EE+Ch Family
Base Standard $1,000 Bronze
Avg. Monthly EMPLOYER Contributions by Tier - PPO Avg. Monthly EMPLOYER Contributions by Tier - QHDHP
$1,400 $900
$1,200 $800
$700
$1,000 $600
$800 $500
$600 $400
$300
$400 $200
$200 $100
$420 $898 $740 $1,182 $362 $590 $528 $818
$0 $0
The belief system about how benefits should be offered can vary across your leadership. EE EE+S EE+Ch Family EE EE+S EE+Ch Family
32
1
Walden Security — Lockton Employee Beneits Practice Overview 26 Lockton Companies
