Do you feel as though your employee benefit costs are through the roof, and you can’t seem to catch a break? We understand that feeling. When the employee benefits plan you offer wasn’t strategically built to benefit your business, you can get to a point where you feel that skyrocketing healthcare costs are out of control, and there’s nothing you can do about it.
That’s what happens when you take the cookie-cutter approach to employee benefits. It seems simple and straightforward, but soon enough, those rising employee benefit costs make you think otherwise.
The truth is when you have a reactive approach to employee benefits, it’s costing you much more than it needs to.
Employee benefits should be viewed as an important piece of your company’s puzzle. They’re not only something you’re required to provide, but employee benefit costs can significantly impact your bottom line.
Instead of taking a reactive approach, they should be used as a tool to care for your employees, contribute to company-wide initiatives and save you both time and money.
2 Ways a Reactive Approach to Benefits is Impacting Employee Benefit Costs
1. One size fits all approach increases employee benefits costs
No two companies are the exact same. And, the same goes for employees as well. You can’t expect one employee benefits plan to impact companies the exact same way. When you choose a reactive approach to benefits, you’re not dedicating time to crafting a solution that suits your company and your employees. The result? Wasted benefits, lack of employee engagement and increased costs.
When working with a benefits partner like Totem, there are no cookie-cutter solutions. Our unique approach to healthcare helps you increase the quality of your benefits while decreasing costs. This is achieved by directing your employees to the highest quality care available, significantly reducing your costs and systematically delivering quality benefits.
Each of those factors contributes to an employee benefits solution that is tailored to your employees and your company. When you take the proactive approach to benefits and adopt a recommended solution, not only are you offering your employees better benefits, but you’re positioning yourself to achieve 8-29% annual savings.
2. Prioritize quality healthcare, decrease employee benefit costs
The number one contributor to your skyrocketing employee benefit costs is healthcare. A reactive approach to benefits does not equip you to reduce healthcare costs. In fact, you may be on a path of continued increased costs year after year. It’s time to break the cycle.
With Totem, we focus on directing your employees to the highest-quality healthcare and physicians available in their area. Not only does this benefit your employees’ well-being and, in turn, boost their productivity, but it also drives your healthcare costs down, continuing to decrease annually.
Totem healthcare solutions are designed to combat the three villains of healthcare costs:
- Lack of quality care
- Overtreatment and misdiagnoses
- Lack of cost transparency
Each of these “villains” has a significant impact on employee benefits costs, and it’s crucial that your benefits plan is strategically designed to combat each of them head-on.
At Totem, we don’t believe in cookie-cutter solutions. Our team is laser-focused on providing clients with quality-driven health plans that make a difference for your company, your employees and your bottom line. You’ll never have to go at it alone with Totem.
If you’re ready to take a proactive approach to employee benefits, connect with one of our team members today.