Strategy
Establishing a clear set of plan objectives and strategies is fundamental to a successfully managed employee benefits program. At Dominion Benefits, we spend significant time with you to understand and document your organization’s overall culture and environment. This approach helps us to clearly define recruitment and retention objectives and priorities. Without a strong strategic foundation, a benefit plan’s success or failure cannot be assessed.
Our strategic approach includes the following steps to identify the best solution for you:
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Identify the need through an understanding of your industry, budget and other objectives, incorporating your competitive environment and recruitment and retention strategies. | |
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Conduct an exhaustive market survey and evaluation. Our BENEFIT SELECT® tools give us a unique advantage here. | |
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Review potential solutions considering cost, impact to employees/culture (positive and negative),and cost/rewards of implementing a solution quickly verses implementing a multi-year transition. | |
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Work collaboratively as your partner to select the appropriate solution. | |
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Implement and monitor the selected strategy. We conduct quarterly meetings to review plan performance, trends and future considerations. | |
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As carrier data is available, assess the state of the plan (i.e. cost trends, claims experience) throughout the plan year. Our evaluation process emphasizes the importance of periodic reviews in lieu of intensive activity concentrated at renewal time. | |
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Provide periodic updates on benefit-related news, market trends and regulations, and hold annual benefit planning seminar. Learn more about these services by visiting the our tools section of our website. | |
