It’s not uncommon for members of our TBC team to be asked “What does an ideal client for TBC look like?” The answer to that question has a lot less to do with how they look, but with the culture and management style that defines the client or potential new client. Therefore, below are eight answers to the often-asked question:
- Employers who have a strategic view of their employee benefits. Once an employer understands why they should move from a focus on the next renewal to developing a long-term plan, they are ready to benefit from the best tools and strategies available and the experience of the TBC team.
- Employers who are innovative and creative. It is impossible to bulk the trends of rising healthcare costs without embracing innovative strategies. TBC brings experience, proven process and strategic tools to the table, but the success of these strategies also relies on the willingness of the client to think outside the traditional boxes of benefit offerings. Keeping benefit programs simple may be easier and more comfortable, but it forfeits measurable savings and effectiveness. Employers who embrace change and are early adopters of innovative solutions will be most ripe for a partnership with TBC.
- Employers who are willing to consider moving to self-funding, (if not currently self-funded). When an employer moves to self-funding and engages the tools and strategies to drive down healthcare costs, the employer saves money. Implementing cost-savings strategies while fully-insured only helps the carrier save costs. Our best strategies are designed to maximize savings for self-funded employers.
- Employers who have a bent toward analytics. In recent years, data analytics has been a growing trend in Human Resources and this is nowhere more apparent than in what is now available in understanding healthcare spend. When you are a client with TBC we want to regularly review, with you, in-depth financial reporting on claims, high claimants, premium cost comparisons and pharmacy and Rx costs. By studying detailed claims data, we can not only predict costs, but we can also determine the disease or unique healthcare issues to be targeted through benefits and wellness initiatives.
- Employers who have an understanding of the relationship between healthy employees and the organization’s bottom line. We concur with Dee Edington who attests health is not simply the absence of disease but the presence of energy and vitality. Employers who desire employees to be energized and full of vitality will embrace the holistic approach our TBC consultants take in the well-being of the employee. When we do our job well by leading you in selecting smart benefit options and effectively communicating your benefits to your employees, then your employees will be more likely to stay on your team, be engaged and be productive—increasing your profits.
- Employers who are employee-centric. The finest tools and strategies for controlling employer spending on healthcare costs deliver optimum results when part of a culture that genuinely cares for the employee. Workplace cultures where there are employee surveys, effective employee communications, superior training, provision of required tools, a promotion of work-life balance, fun and team-building are fertile environments for employee engagement in strategies to control healthcare costs. More importantly, these same strategies can strengthen employee morale by effectively communicating the benefits they provide to the employee.
- Employers who either have a robust wellness program, or desire to enhance their employee wellness offerings. Benefit and wellness strategies will be optimized in environments that promote health. Such an environment includes, or has an openness to, providing health assessments and screenings, health fairs, wellness challenges, encouraging use of Employee Assistance Programs, moving toward tobacco-free workplaces and implementing rewards and penalties for healthy choices and activity. Furthermore, having a resident Champion for Well-being provides an added foothold for success.
- Employers needing someone to lighten the load of HR by providing employee advocacy services. Too often HR will be overwhelmed with employees needing assistance with understanding their benefit options, obtaining ID cards, unresolved claim payments, or understanding an Explanation of Benefits. Because our TBC team is well equipped to provide training to your employees at Open Enrollment and assist them throughout the year, TBC can be a great fit for our hands-on employee advocacy, freeing up your HR team to focus on what they do best.
Does this sound like your organization? Is this the direction you are heading? If so, you are ripe for taking the next move toward strategic benefit planning. And, The Benefit Company is here to help.
Want to know more about how you and your team can partner with TBC? Contact us today.
Jack W. Bruce, SPHR, SHRM-SCP, is the Vice President, Strategic Operations for The Benefit Company in Atlanta, Georgia.