1. Are we competitive enough to attract and retain employees?
2. Are we paying for coverage our team values and uses?
3. Are our costs sustainable over the next 12 to 24 months?
4. Are there better plan design options available in the Canadian market?
Benchmarking an employee benefits plan means comparing your current plan against relevant market data, industry norms, workforce needs, and your own claims experience.
A strong benchmark review should answer 4 questions: