“What’s “normal”? Are we doing better or worse than everyone else?”
When it comes to employee benefit plans, you can’t possibly expect to know “what’s normal” and how you measure up compared to the average. No matter how many industry magazines or case studies you read, there’s no substitute for real world knowledge. We have a distinct advantage in this area because we work with employee benefits across multiple companies, in multiple geographies, in multiple industries and have done so across multiple years.
We Are Obsessed With Benchmarking
Some people obsess about the stock market. We obsess about benefits benchmarking metrics. This is our bread and butter. Truly. Our opus of knowledge. We don’t believe anyone in the industry has gathered a more comprehensive database than ours, including:
Fees of every variety
Costs – both hidden and direct
Expected revenue streams
PLUS – we understand how making changes to contract terms, operational processes, and policies can significantly shift actual results from what might have been expected when the project began.
How Is Your Company Performing?
Let’s find out. We conduct benchmarking assessments across the spectrum of employee benefits including:
Benchmarking exercises are also performed as part of Curcio Webb’s provider selections and renewal projects. We frequently conduct 408(b)(2) benchmark assessments to help our clients understand how their total qualified plan fees compare to the industry.
Once You Know, How Do You Adjust?
Knowing how your benefits measure up is the first step. Understanding how to improve your benchmark metrics with minimal disruption to services is an art unto itself. That’s where having Curcio Webb’s depth of experience knowledge and vast web of relationships can really make a difference in your results.