Program Design

In designing the total compensation program, an employer seeks to balance wages, incentives, and employee benefits to meet the needs of employees and the employer's basic compensation philosophy. We assist companies in developing their own company philosophy and then develop a benefits program that is consistent with that philosophy.

Evaluation and Analysis

Our consultants analyze the existing benefits program in terms of coverage and plan participation to determine how well existing benefits plans meet employer needs and employer objectives. Through this step, we identify any gaps in coverage or overlapping benefits and make specific recommendations for changes in the present plan.

Cost Containment

With employee benefits costs averaging 35% of payroll nationwide, managing cost is an integral component of employee benefits. Cost containment analysis involves evaluating alternative methods of financing benefits, plan design, flexible benefits, changes in providers, and evaluating managed care approaches.

Provider Evaluation

The best provider is not always the least expensive. We will evaluate your current provider's performance against generally accepted measurement criteria. This analysis will identify providers that are capable of delivering the level of service the employer requires at the most competitive price.

Employee Education / Communication

An effective communication program is essential to the overall success of any employer benefit plan. We will design benefit communications that are simple, understandable and convey the status and total value of the employer's benefit program. We make a point to visit the workplace to educate employees on how their employee benefits work and how they can maximize their benefits.

Supplemental Benefits

In addition to the core benefits program; employee's specific needs may be met by offering a variety of supplemental benefits without incurring additional cost or unnecessary administrative expense. Smith Kaplan assists employers in identifying the right products and the most efficient enrollment process.