Why Your Employee Benefits Strategy Needs a Rethink – Even If You’re Already Doing It "Right"
Most businesses between 20–200 employees are doing benefits well enough. They’ve got a broker. They renew on time. Employees have coverage. So why change?
Because "well enough" leaves opportunity and money on the table.
At BenX, we work with employers in that exact range, and one thing we consistently see is this: some leaders think their benefits are fine… until they see what a strategic approach actually looks like. One that improves retention, simplifies admin, and reduces costs - all without reducing coverage.
Here’s what that shift looks like in practice:
1. Stop Accepting the Same Renewal Story
Most companies get their annual renewal increase, push back once, maybe get a point or two shaved off… and call it a win.
But if your broker isn’t presenting multiple funding strategies or exploring cost control mechanisms like consortiums, captives, level-funding, or ICHRAs, you’re not really getting a strategy - you’re just getting a quote.
2. Look Beyond the Plan Design
Offering a PPO, HSA, or dental/vision is table stakes. The strategic layer comes in how you educate employees, manage payroll deductions, and measure the ROI of your spend.
→ Are employees actually using the benefits?
→ Are high-value employees leaving for better benefits?
→ Is your HR team spending hours on manual admin?
These are the questions that actually move the needle.
3. Invest in Technology That Actually Works
There’s a massive difference between a benefits platform that’s "included" vs. one that’s custom-built to integrate with your payroll, carrier(s), compliance vendors, and onboarding processes.
If your HR team is still toggling between PDFs, Excel files, and phone calls to the carrier, you’re due for an upgrade. (Bonus: the best systems make employee onboarding and open enrollment feel easy.)
4. Your Employees Judge You by Your Benefits
In today’s hiring market, candidates ask about benefits during interviews - and they’re comparing your plan to the last three companies they applied to.
If your offering is confusing, generic, or leaves employees footing a big portion of the bill, it’s affecting your recruitment and retention more than you think.
So… Is It Time to Rethink?
If you're an employer between 20–200 employees, here’s the honest truth: your benefits can be a competitive advantage… or a silent liability.
And if you’ve never had a broker walk you through a custom strategy roadmap - one that ties your benefits to your business goals - it’s worth rethinking what “good enough” really means.
Need a second set of eyes on your current strategy?
At BenX, we specialize in benefits advising for growing companies - and we’re happy to do a no-pressure check just to show you what’s possible.