At ERB, we recognize that in today’s competitive talent market, robust benefits packages are no longer perks but necessities for attracting and retaining top talent in progressive cities like Pasadena. However, not all plans equally support a positive ROI. As specialists in crafting customized programs, we optimize benefits investments to best serve both employer and workforce needs.
Our consultative approach centers around an exclusive roadmap highlighting key areas impacting workforce productivity, satisfaction, recruitment and retention. First, we conduct proprietary data analysis assessing your organization’s demographics, trends and pain points. Comparing internal metrics against wider industry benchmarks reveals gaps and opportunities. Armed with intelligence, we strategically select offerings demonstrating the highest yield at the lowest costs from our extensive carrier partnerships.
Ongoing tracking provides tangible ROI metrics like reduced turnover, eased recruiting, and boosted output. We also benchmark employee satisfaction through annual surveys. In one case study, a mid-sized city government employing over 500 workers had issues with their existing benefits provider including poor customer service, pushy sales agents and high premiums with low coverage. After implementing a supplemental voluntary benefits package from ERB, the city realized drastic improvements including: nearly 100% voluntary enrollment by personnel and high praise for the professionalism of the ERB team. The customized bundle eased management workloads while boosting employee morale and workplace satisfaction across the board.
While high-level analysis informs planning, listening to individual worker priorities helps fine tune programs. For example, a workforce concentrated around millennial parents may appreciate expansive family leave policies over retirement matching. Older employees eyeing retirement value 401K planning expertise over childcare stipends. Accommodating diverse perspectives maximizes satisfaction. Our independent status allows crafting creative bundles balancing preferences across the spectra.
In arrangements like voluntary benefits, workers select enhanced offerings like pet insurance or legal services for additional payroll deductions. These employee-paid additions let individuals address unique needs outside one-size-fits-all packages. Since ERB offerings demonstrate clear value, over 80 percent voluntarily enroll.
Alongside tailoring smart bundles, we also contain costs through curated partnerships earning clients aggregated “jumbo” rates. Our buying power saves over retail plans. Partners also gain dedicated support resources handling onboarding, compliance, claims and more. These administrative efficiencies allow focusing bandwidth on core operations, multiplying productivity. Added savings and streamlining turbocharge program ROI.
Analytics also inform targeted interventions addressing turnover hot spots. We drill down examining pain points within specific departments, roles or demographics. For example, nursing shortages plaguing hospitals can be alleviated through student loan repayment programs or retention bonuses. Isolated issues around culture or leadership can be pinpointed through exit interviews or surveys. Diagnosing high-risk pockets early allows timely action.
Ongoing tracking through pulse surveys and benchmarking provides an early warning system revealing dips that prompt course correction. Periodic check-ins assess program efficacy across stakeholders. For leadership, regular reporting delivers granular, apples-to-apples comparisons quantifying program performance against past cycles and wider industry. For staff, quick polls gauge the emotional response revealing hot buttons before problems peak. Analytics transform benefits from costs to competitive investments.
At ERB, we recognize benefits must evolve from operational expenses to key investments in an organization’s human infrastructure. well-crafted offerings enriching worker lives pay dividends in corporate growth and community prosperity. Let us optimize your program’s ROI through strategic planning and continual fine tuning guided by actionable workforce insights. Invest in your people, and the returns will follow.
