Talent Retention

One-to-one benefit communication fosters understanding, appreciation, satisfaction and longevity

Have you calculated the cost of employee turnover to your organization?

In spite of the significant investment many employers make in their benefit programs to attract employees, inadequate benefit education often leads to dissatisfaction and increased turnover.

The expense of recruitment, hiring, training, lost experience, client loss and foregone sales are typically far greater than the first estimate.

The sheer volume and complex nature of benefit programs can be overwhelming to your employees. Learn how to make the complex simple and educate every single employee how to integrate employer-sponsored and individually purchased benefits into a customized personal financial plan that meets their unique needs.

Invite our Advisors in for a consultation to discover how we can help you keep your most valuable employees: questions@capitalriskmgmt.com

Benefit Counseling

A one-to-one session in which a professional Benefits Counselor meets with an employee to explain precisely how each of his/her employer-sponsored benefit plans work and whether or not one or more voluntary benefit offerings may be helpful to fill any gaps in coverage for the employee and his/her family. A benefits counseling session may also include an explanation by the Benefits Counselor of a “Benefits Statement”.

Benefits Statement

Also commonly known as a “Hidden Paycheck”, a benefits statement is a calculation of the total cost of an employee to an employer, including not only the employee’s salary but also items such as employer payroll taxes, worker’s compensation premiums, retirement plan contributions, health, dental, vision, life and long-term disability premiums, paid time off and the like.

Voluntary Benefits

Insurance that covers a group of people, usually who are the members of societies, employees of a common employer, or professionals in a common group. Group coverage can help reduce the problem of adverse selection by creating a pool of people eligible to purchase insurance who belong to the group for reasons other than for the purposes of obtaining insurance. In other words, people belong to the group not because they possess some high-risk factor which makes them more apt to purchase insurance (thus increasing adverse selection); instead they are in the group for reasons unrelated to insurance, such as all working for a particular employer. A feature which is sometimes common in group insurance is that the premium cost on an individual basis may not be risk-based. Instead it is the same amount for all the insured persons in the group.

Personal Financial Planning

Personal finance is the application of the principles of finance to the monetary decisions of an individual or family unit. It addresses the ways in which individuals or families obtain, budget, save, and spend monetary resources over time, taking into account various financial risks and future life events. Components of personal finance might include checking and savings accounts, credit cards and consumer loans, investments in the stock market, retirement plans, social security benefits, insurance policies, and income tax management.