Offering employee benefits can be a delicate art. That's because it is often difficult to determine what the perfect balance is between costs to companies and the costs that workers will pay. As a result, many businesses err on the side of overpaying workers for fear of losing their top staff members. Conversely, some organizations will underpay and wonder why they aren't able to recruit as effectively as competitors.
There exists a sweet spot for each organization and each type of plan, though this can be hard to divine. Even industry sources aren't terribly reliable. For example, the Great Falls Tribune reports that an Employee Benefits Research Institute survey found that 78 percent of employees with work-provided health insurance plans had deductibles of less than $1,000 and family deductibles under $2,000.
However, these figures aren't entirely helpful for companies that have to be very delicate when they decide how to effectively compensate their personnel. As a result, the role of employee benefit specialist must be filled with an experienced and expert professional. Such a consultant can study the operations of a company and determine the precise amount that should be spent on benefits. Additionally, she can help to secure those benefits at a low cost.
