As a team of benefits strategists, we work hard every day to make sure we’re exceeding client expectations and providing the most innovative and value-generating plan designs and advisory services.
February 24, 2021
One of the many benefits to completing the Apex Benefits 2021 Indiana Employee Benefits Benchmarking Survey is the option to receive a custom benchmarking report.
What exactly is a custom benchmarking report? Why should you get one for your company?
There are a few reasons why it’s worthwhile to receive this type of report.
Compare your company to Indiana, national averages
While our overall benchmarking report encompasses employee benefit package data from Indiana employers we survey and compares it to national data, the custom report goes one step further.
Each custom report will specifically compare your organization’s benefit plan to the Indiana and national averages.
This is a great opportunity to identify how strong your company’s total rewards program actually is, or discover areas where it can improve. Apex’s benchmarking report already delivers a wide range of data from Indiana employers from premium and deductible averages to the most common wellness programs offered.
A custom report simply shows how your organization stacks up, and our experienced team of advisors can make key recommendations on how to improve your benefits package.
“Benchmarking is crucial for Indiana business leaders to make strategic benefits decisions that will best serve their employees and organizations,” Apex Executive Advisor Scott Long said.
Gain an even bigger edge on the competition
We receive benchmarking surveys from all types of industries. In some cases, the talent pool can be fairly small, which can make recruiting and retaining employees more difficult than it already is.
Wouldn’t it be nice to have a leg up on your competitors, and then give your employees no reason to look elsewhere? A custom report could be your answer.
The truth is, job candidates and employees analyze more than just the salary they could receive – they look at the whole package, including benefits. Your benefits package could be the dealbreaker for someone who you know is the perfect candidate for one of your open positions.
In one instance, one our of clients offered a second deductible option after their custom benchmarking report showed other employers in their industry offered HSAs to its employees.
Our custom reporting allows organizations to see how their total benefits program compares against Indiana employers – even the ones in their same industry. If you’re trying to beat out the competition, shouldn’t the benefits package be a part of your plan?
“Imagine having such sought-after benefits that your organization is an absolute magnet for the very best employees in your business sector,” Long said. “And, that in 10-15 years into their career, these dedicated employees simply ignore recruiters’ calls because they have no reason to leave your organization.”
To have Apex complete a custom report for your organization, participate in our 2021 Indiana Employee Benefits Benchmarking Survey at benchmarking.apexbg.com.