Q & A – How do employers know if their benefit package is competitive?

Q: How do employers know if their benefit package is competitive?

A: Employers should utilize reliable survey data to benchmark themselves against other companies including competitors.  MSEC publishes the following benefit surveys: Health and Welfare Plans, Paid Time Off, and Miscellaneous Benefits.  Other reliable resources include Employee Benefit News, various industry specific surveys, and many large consulting firms publish benefit survey data.