Benefits Advisory (Original)

Economics

Recent trends show lower unemployment rates and a tightening labor market. Reporting suggests that employees, especially those living in high state-tax states, are looking to their employers for ways to lower their taxable liability. There are also increasing employee expectations that businesses will reinvest a portion of profits with employees. Companies are struggling to attract and retain skilled talent under these conditions. Critical Path Advisors can provide benefit based solutions to address these concerns.

Michelle Brown helped us navigate the info received from the broker. Michelle had us go back to the broker with more pointed questions which led to more plan options and bigger savings for our client. We could not have done it without Michelle!"
Account Executive, Multi-Family Office/Business Management firm

Demographics

When I started looking at health plans, I was overwhelmed with all the options. After contacting Critical Path and working with Will, he worked with me to first understand what my needs were, and then used those as a basis to help me select my best options. Unlike other companies I had worked with, Will made sure that I not only was able to understand how the plans were different, but understood how they would impact my company. I have already recommended Critical Path to several of my peers, and look forward to our continued relationship."
Vince M., PhD/Renowned University

A core focus of Critical Path Advisors is analyzing and addressing the shifting demographic patterns that companies face both internally and as global trends emerge. With the increasing numbers of female STEM graduates formerly male dominated fields are now becoming more gender neutral. In addition, there is a growing age disparity in the workforce, with the two largest groups of workers being the Baby Boomers and the Millennials which have vastly differing needs and expectations. We can identify these trends and suggest strategies to best close these gaps.

Communication

Studies show that there is a consistent lack of education and understanding regarding benefits, even when companies offer very rich benefit packages. Studies also show that a potential employee will reject a job offer they would have otherwise accepted based on the benefit package. A poorly communicated benefit program is like not having one at all, while a properly communicated package is show to provide higher employee satisfaction. Developing methods and strategies for communication of benefit offerings to both current and prospective employees is an area in which our team excels.

Culture

There is no such thing as “one size fits all.” Each business has their own mission, atmosphere, needs, demographics, and challenges. Collectively, this makes up the company’s culture. Previously, what started as company culture driven benefits has caused industry wide changes. One recent example is paid family leave. Our team can help develop niche benefits suited to the company culture. Our team firmly believes that each benefits package should be custom tailored to the company culture to drive employee satisfaction, aid in recruitment, and limit turnover.