For just about any busi­ness, employ­ee ben­e­fits are a huge expense.  In fact, accord­ing to the US Depart­ment of Labor, most busi­ness­es are spend­ing at least 30% of their pay­roll on ben­e­fits — and that’s a num­ber most busi­ness­es want to reduce how­ev­er they can.  Unfor­tu­nate­ly, many look towards cut­ting ben­e­fits, but that’s a poor long-term strat­e­gy.  Reduc­ing ben­e­fits can lead to the loss of expe­ri­enced work­ers, and a shal­low hir­ing pool, cre­at­ing more prob­lems rather than solutions.

How­ev­er, there is an alter­na­tive: employ­ee ben­e­fit ser­vices.  An off-site spe­cial­ist can stream­line your ben­e­fits sys­tem, sav­ing your com­pa­ny sub­stan­tial mon­ey in the long run and with­out sac­ri­fic­ing the qual­i­ty of your ben­e­fits package.

Three Ways Off-Site Employ­ee Ben­e­fits Admin­is­tra­tion Improves Your Bot­tom Line

1 — More options in ben­e­fits packages

A ded­i­cat­ed employ­ee ben­e­fits bro­ker is going to have access to most or all of the major providers across the coun­try, and that gives them supe­ri­or abil­i­ty to cre­ate cus­tom-made pack­ages.  In some cas­es, it’s even pos­si­ble to improve the over­all qual­i­ty of ben­e­fits, while still low­er­ing costs.  Addi­tion­al­ly, the larg­er bro­kers can also lever­age economies of scale to bring you fur­ther cost sav­ings you could not pos­si­bly achieve as a sin­gle busi­ness entity.

2 — Bet­ter data for decision-making

The data for bench­mark­ing almost any ben­e­fits plan is out there, but not every­one knows how to access it — and even few­er can inter­pret the data.  A qual­i­fied employ­ee ben­e­fits con­sul­tant, how­ev­er, is some­one who can.  They can put togeth­er eas­i­ly-under­stood data sets and improve the deci­sion-mak­ing process­es with­in your business.

3 — Improv­ing reg­u­la­to­ry compliance

As insur­ance and ben­e­fits reg­u­la­tions become ever more com­pli­cat­ed, it becomes eas­i­er for a busi­ness to unknow­ing­ly fall out of com­pli­ance with the law.  Even a sin­gle vio­la­tion can be a sub­stan­tial finan­cial blow.  In this way, hir­ing out­side experts becomes a form of insur­ance — but one which almost imme­di­ate­ly pays for itself through avoid­ed problems.

Cut Your Ben­e­fits Costs with Arrow Ben­e­fits Group

We can stream­line your ben­e­fits pack­ages, pro­cess­ing, and employ­ee out­reach — sav­ing you time and mon­ey.  Con­tact us to learn more.