AQ Group Solutions is proud to present The AQuity 360 Blog Series as part of The AQuity 360 Program™, helping you to avoid The Reactive Decision Trap™. Read this series to see how your organization can build a human capital strategy that proactively aligns with your business strategy and goals.
Part 2: What is your organization’s Benefits Philosophy & Vision?
Most organizations have thoughtfully crafted a well-constructed mission and vision statement. They know why they do what they do, and the direction in which they’re headed. As a result, business decisions are assessed against their alignment with corporate objectives, and how they support the mission and vision of the company before they are implemented. Why should decisions related to your benefits plan be any different?
Many organizations however, do not have a vision or philosophy specifically for the management and direction of their benefits plan. They have not determined the guiding principles outlining what they want the plan to cover or achieve. They may also have not considered how their benefits plan relates to their compensation or recruitment strategies or how they will use their plan to support wellness activities or incent specific behaviors or choices. Many don’t really know why they have a benefits plan in the first place beyond “well, we have to have one”.
When a benefits plan is proactively managed based on full analysis of all available data and alignment with business goals, decisions surrounding your benefits plan become strategic and clear. This deliberate alignment also provides a baseline for meaningful measurement of the success of your plan.
Developing a benefits philosophy is a key element of a well-managed benefits plan. Your benefits philosophy will help guide your organization through decisions related to design enhancements or cost containment, and, along with comprehensive data analysis will keep the organization from falling into the Reactive Decision Trap™. What is your organization’s Benefits Philosophy?
At AQ Group Solutions we believe that every successful organization requires a human capital strategy that proactively aligns with their business strategy and goals. We created The AQuity 360 Program™ to help you avoid The Reactive Decision Trap™, save time and make more money, attract and retain more great people, and achieve your business goals.
Your business decisions require strategic planning and precision alignment to your overall objectives. Why should your benefits be any different? Call us to find out how you can strategically align your benefits to your corporate and financial objectives.