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Employee Benefits (EB)
When it comes to employee benefits in today's corporate world, business and human resources (HR) managers at companies of all sizes are being asked to do more, such as:
- Provide Benefit programs that improve employee satisfaction and promote retention
- Offer more robust benefits to attract prospective employees
- Stay ahead of changing regulatory and compliance issues
- Provide greater support on the day-to-day management of employee benefits plans
- Find ways to save the company money - containing costs without reductions to, or elimination of benefits
To remain competitive, business and HR managers must find a way to create benefits programs that help create the best value for employees and employers alike - now and into the future.
Employers can no longer recruit and retain talent they need with a one-size-fits-all approach to employee benefits. While offering a single traditional medical plan and a 401(k) used to be all that you needed to attract talented employees, this is no longer the case. The "typical" American family has changed. Single employees, employees with families and young children, employees in the "sandwich generation" who are raising their children and caring for aging parents, and pre-retirees all have different needs based on their lifestyles. Employees now want multiple health plans to choose from to meet their families' unique needs. They want better retirement plans, voluntary benefits, work/life balance, financial planning and wellness programs.
As a company, your main goals are clear: grow your business, increase revenue, control costs, minimize liability and increase productivity. Employees generally have two main goals they seek to meet through employment: obtain financial security and meet the health care needs of their families. While salary is obviously an important component in meeting those needs, so are the retirement and insurance benefits that you provide. Although your goals and your employees' goals may seem at odds, they do not have to be.
At TFG Benefits, we help our clients develop benefits programs that make a competitive difference for their company while also making a difference in the lives of their employees. We provide the benefits solutions, insight and support that help you create optimal value for your business, and work with you to design a benefits and communication strategy that can help recruit and retain the best employees possible.