Professional benefit planning services that can help you establish a quality benefit program that will help you retain top talent without breaking the budget.
Defined-benefit plans are employer-based programs that pay benefits based on factors such as length of employment and salary history.
Understanding the responsibility of managing the risks and investments is key for maintaining a high-quality benefits program for employees. Our team of benefit planning experts can help you ensure these investments are managed properly and optimized to your goals.
Why Benefit Planning Is Important
Managing employee benefits is an important and costly endeavor for employers. Though most employers are required to provide mandatory benefits such as Social Security contributions, worker’s compensation insurance, and unemployment insurance, other benefits are voluntary and specific to the overall goals of the company.
Offering a great benefits program can help you to maintain a competitive edge when recruiting new talent in your industry and boost your capabilities for innovation and growth.
Common aspects of a professionally-designed benefit plan include:
- Medical insurance
- Disability insurance
- Life insurance
- Paid time off benefits
Our Benefit Planning Process
Identify Objectives And Budget
Clearly identifying objectives and the budget for the benefits program will provide overall guidance in establishing the selection and design of the benefits program. provides an overview of the organization’s objectives of offering benefits that reflect both the employer and employee needs. We specialize in helping you find the perfect balance.
Conduct A Needs Assessment
A needs assessment should be conducted to determine the best benefits selection and design based on the needs and wants of the employees. The needs assessment may include an employer’s perception of employee benefits needs, competitor’s benefits practices, and tax laws and regulations.
Design The Benefits Program
Based on these findings and the overall goals of the company, we help to design the benefits program that is to be implemented. Here we begin to formulate benefits offerings in order of priority, then determine the cost of providing the prioritized benefits and evaluate it against the total benefits budget.
Distribute Benefits Plan To Employees
The way you communicate the benefits plan to employees is critical. We help to simplify this process and make sure nothing gets lost in translation.
Employers should consider developing goals and measurements to assess their benefits programs and make adjustments as deemed necessary. Employers may also consider using external trends and benchmarking data across the industry in order to evaluate the effectiveness of the benefits plan.
Work With Inflection Advisors Today
To ensure your benefits planning is in the right direction, work with the professional. Reach out to an advisor today to get more information.