When Should You Review Employee Benefits?

The renewal for existing employee benefits like Private Medical Insurance can be tight, they can also fall at the wrong time for you to be able to dedicate lots of time to this.

During the renewal period, you can use an intermediary to provide you with a market report or deal directly with the insurer in order to get some idea of potential premium increases/ claims and usage. Do you have time during this period to gauge the impact your existing products have?

How do they perform to your business goals?

Are they helping improve the company culture?

Reducing absenteeism?

Reducing the cost of recruitment?

Supporting your mental health strategy?

Celebrated by your multi-generational workforce?

If you find that quick decisions tend to be made due to time constraints, I would recommend setting some time aside when you have a quiet period in the year to reflect on the changes in the business, future plans and spend some time just asking yourself the question…

Are you happy with the benefits you receive yourself and provide for your employees?

A no-obligation review of your current employee benefits provision is available now. Why not contact us to have a look at what other employers are providing and let us review the market for you, detailing all of the new products and ideas available. This means when you do come to renew you do so in a fully informed position.