A recent (and admittedly unscientific) spot survey of a group of our clients found that half of them depended on competitive benchmarks most or all of the time to shape their employee benefits program.
Logic tells you that benchmarking would be a pretty systematic approach to an always complicated matter. But that doesn't necessarily make it the right one – as traditionally structured. That's especially so given today's employment environment and employee populations.
Benchmarks are fine. But a better approach to crafting an effective benefits policy is to gather and assess data about your own workers and workplace to find out what really matters to them. That's a sure path to leveraging employee benefits to create a quality employee experience that boosts recruitment and retention.
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