BenComp has been among the top providers of benefits communication documentation since 1993. The company was founded by Curt Mead; a former insurance broker and employee benefits consulting professional.
Today, BenComp has clients in all industry segments that range in size from 100 to 5,000+ employees. The firm’s steady growth is due mainly to referrals and existing client retention because of BenComp’s reputation for superior service, creative options, and customization.
BenComp's signature benefit statements are powerful ways to illustrate employee compensation and benefits in a personalized way. Almost twenty years later, the nature of the employee benefit statement has transformed into an effective recruitment and retention tool. BenComp works hand-in-hand with clients to provide accurate, easy-to-understand solutions that set them apart from other employee benefit consultants.
As competition for the most qualified employees grew, the traditional ways that HR employee benefits were communicated didn’t tell the whole story. In addition, there was a need for employers to share information about their increased costs for the benefits they already provided. BenComp began by solving these problems for their clients by creating a variety of benefit statement offerings.
Capitalize on Your Existing Drivers of Retention
A recent survey by Spherion Staffing Solutions asked approximately 300 employers and about 2,500 workers to name their top "drivers of retention". Overwhelmingly, bosses listed soft items such as "management climate" or "supervisor relationship".
The employees' top two picks? Benefits and compensation.
In the current job climate, people who kept their positions have been disenchanted by layoffs, bonus and benefit cuts, and a lack of promotions. The result is a significant drop in the loyalty of top-performers.
How can companies turn these disconnects around? By capitalizing on the total compensation packages they already have in place. BenComp specializes in partnering with companies to present individual benefit and compensation information in a simple, straightforward manner that is meaningful to employees.