The Guardian Benefits Value Tool is designed to help employers better understand their attitudes towards offering employee benefits and how to best meet the needs of their company and employees.
The tool begins with the user being asked eight questions about the diversity of benefits offered, the affordability of these benefits, and the level of administrative and communication support required to manage the plan. The tool then calculates an index score that allows employers to identify the most important factors in selecting an employee benefits package and to benchmark their results against similar companies. The aim is for companies gain a better understanding of the underlying drivers of their benefits offering, as well as information about the best administrative option—be it a traditional model, or private or public exchange.
“As employers look to choose benefits or modify existing plans, the Guardian Benefits Value Tool enables employers to take a step back to determine what’s really important to their employees to ensure they select the right benefits package,” said Chris Swanker, vice president of Guardian’s Worksite and Specialty Markets. “The tool will help start the conversation between brokers and their clients on how to best offer benefit packages that include not just medical, but other important types of benefits such as dental, life and disability to meet each company’s unique needs.”
The Guardian Benefits Value Tool is based on findings from the Guardian Workplace Benefits Study and is the latest in a series of thought leadership assets from Guardian that helps employers understand and determine which coverage, service, administration, enrollment and funding options best meet the needs of their company and employees.
Access to the tool can be found here. For more about the background study, see “Financial Benefits Play Important Role for Employees.”