Can I sell you a computer?

Picture this: your kids are heading off to university and you’re buying them a computer, but you don’t know where to start.

At the first store, you try the salesperson launches into the features available – pixels, cores, bytes, ports – and acronyms that make your head spin. You leave feeling overwhelmed and uninspired.

Your experience at the second store is completely different. The first thing out of the salesperson’s mouth is a question, “What would you like to do with your new computer?”

Well, that’s easy! Your kids will need to take notes, create presentations, write papers, and of course, join video calls with mom and dad.

The second salesperson reframed your quest. Now you're looking at a computer as something that helps you meet your goals instead of a commodity defined by features.

Why do you want group benefits?

We look at group benefits the same way. The first question shouldn’t be, “how much coverage do you need?” That’s a recipe for a bloated benefits plan that has the coverage you think you need but doesn’t give your team the benefits or flexibility they really desire.

Instead, we ask, “Why do you want group benefits? What are your goals? What kind of culture do you want at your organization? What's your budget?” Answers to questions like these help you build a benefits plan that fits your team and supports your values.

By asking questions about your objectives, we create a benefits plan that helps you accomplish your goals.

Questions to ask before you build your benefits plan

Before you sit down and figure out how to build your benefits plan, make sure you know who you are as an organization, and how a benefits plan fits in. Here are a few questions to help you (and your benefits team) understand your objectives for a group benefits plan.

What is the purpose of the benefits plan?

  • A competitive advantage in the talent wars. We want to attract new employees and keep the amazing ones we have.
  • A benefits plan is a must-have. We just want to answer “yes” when asked if it’s something we provide.
  • Health and wellness are important to us. We do everything we can to keep our team healthy and happy.

How much flexibility do we want to give our team?

  • We know best. We’ll design a plan with appropriate coverage categories and limits.
  • A little guidance is important. We’re not doing this so they can book unlimited massages. Let’s set some guidelines.
  • You do you. Let’s give our team the freedom to make their own decisions about the healthcare that fits their needs.

What kind of cost control do we want?

  • Every red cent counts! We know we need to provide benefits, but it barely fits the budget right now.
  • Let’s not break the bank. It’s important to invest in our team, but this is just one of many business expenses.
  • Make it rain dollar bills! This is an important part of our compensation, so let’s give our team as much as possible.

How do we want to treat our team members?

  • Equally – Everyone is treated the same and given the same support, regardless of their situation.
  • Equitably – Everyone should get the same financial benefit from our plan, even though they all have different needs.

These questions may seem vague but answering them is key to communicating the objective of your group benefits plan – the “why.”

A group benefits plan that tries to answer the “what” before your “why” is doomed to fail.

So, be wary of anyone who tries to tell you there’s a right or wrong answer when it comes to building a benefits plan. The best benefits providers and the advisors who work with them know that it’s never “one-size-fits-all” and a benefits plan should help you meet your organization’s objectives above all else.

Got your answers ready? We’d love to chat!

When you’re ready to build a blended plan that helps you meet your objectives, our Advisor Nation and Growth Team are standing by. Get in touch and we’ll show you how to provide benefits that are flexible and fair for your team without breaking the bank.

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