Process
Lockton is your day-to-day partner for the long-haul because implementing an
effective benefits strategy is an ongoing process, not an annual event.
We provide you with comprehensive, customized service and advice including:
- Analysis: Goal setting, needs assessment
- Strategic Planning: 3-5 year strategy
- Tactical Management: 12 month plan fitting the strategy
- Implementation: enrollment, employee education, ongoing support
- Renewal Planning: plan performance analysis, trend review, design-update
Below is an in-depth look at each phase of the process that we will implement
along with your staff and employees:
Phase 1: Analysis
The process starts with a complete look at where your company has been, where
it is today and where it wants to go tomorrow.
Our experts will analyze claims data from your existing carriers along with
industry performance data from other companies in your industry.
While we assemble this data we will be asking about your corporate goals,
expectations and budget requirements. We’ll conduct employee surveys and analyze
your demographics. From financial objectives to employee perceptions, we want to
understand every aspect of your business where benefits are involved.
Phase 2: Strategic Planning
After taking a hard look at your past performance, present situation and future
objectives, we will create a 3- to 5-year forward-looking strategic benefit plan.
We will share our industry trend projections with you and discuss how to best
prepare today for changes that will affect your plans in the future.
Phase 3: Tactical Management
Using the long-term strategy as a guiding road map, we now integrate plan
components drawn from experience with our national network of carriers and
service providers into a comprehensive plan designed to meet your employee
needs and operational budget.
The plan design will reflect your anticipated growth and potential changes in
your competitive landscape. This highly-customized plan will consist of the most
innovative services available today with a constant eye on where we see these
services and your company evolving in the future.
Phase 4: Implementation
The plan we design for you includes an integrated suite of services and a
comprehensive timeline that ensures that the rollout is smooth for your HR team
and employees. Your Benefits team will make sure your employees are informed
about any changes or choices they will face.
We’ll assist with initial enrollments and make sure that ongoing claims are being
handled efficiently. Your Benefits team will be right there with you to answer
any questions that come up during the transition and throughout the year.
Phase 5: Renewal Planning
Well before the year runs out and it is time to renew or modify your benefit
plan, your Benefits team will begin assembling claims data from your carriers
and comparing your plan performance to certain industry benchmarks.
This is where the process begins again.
Your Full Time Partner
As you can see, we expect to be more than a vendor.
We want to be a corporate partner that shares in your challenges and is a part
of your success.