Strategic Benefits Design

In order to achieve that the design of a Benefits Plan really adds strategic value, the drivers that justify the use of these benefits instead of applying their cost to the salary payment must be considered. Among these reasons we can find:

• Tax Effectiveness
• Use of the purchasing power of the Company
• Perception or value given by employees to a benefit, when this is greater than the cost to the company
• Control of the salary employee utilization by the company
• Alignment -or differentiation- with competitors
• Emotional Value of the Benefit

Once the reasons that justify the existence of each benefit have been verified, the company can focus on maximizing its impact on attracting, retaining, and motivating employees, as well as on optimizing costs and on the correct operational management of each benefit.

CompStrategy can help with:

• Competitiveness Analysis of the benefits package
• Flexible Benefits or Segmentation of the offer according to organizational level, age, sex, or even by teams or key personnel
• Competitiveness Analysis of the Executive Benefits Package
• Negotiation with suppliers or benefit providers
• Benefit Design
• Life Insurance policies, pension/retirement plans, and the valuation of the technical liabilities they generate
• Medical Insurance Plans, including analysis of medical provider and billing auditing
• Introduction of Benefits linked to Business Results
• Strategic Communication of the Benefits Package