Watch "Managing employee benefits: The numbers behind the Why"
on BBSE
Listen to business experts and the blinds spots they see.
Hear the blind spots and understand how, through data and analytics, you can eliminate those blind spots.
Podcast Bullet points
- The podcast discusses the importance of aligning employee benefits with the broader goals and culture of the organization. Benefits should not be treated as a "checkbox" but rather as a strategic tool for attracting and retaining talent.
- The healthcare system is described as "challenging," necessitating the need for expert advisors to help organizations navigate it. Rising healthcare costs have driven employers to explore more unique and innovative benefit options.
- The conversation highlights the role of storytelling alongside data analytics. Leaders must understand the stories behind the data to identify "business blind spots" that could harm the organization.
- Focused consultation is key: Organizations should work with advisors specialized in health plan improvements rather than generalists who "dabble" in health insurance. The consultation should be ongoing, with quarterly check-ins recommended.
- Real-world impact: One case study mentioned in the podcast showed an organization with about 70 employees saving approximately $85,000 by better structuring their benefits, demonstrating the tangible financial advantages of a well-managed benefits system.