Benefits Budget Guide: 13 Cost-Containment Strategies to Reduce Spending and Optimize Your Budget

Most companies pour a great deal of money into employee benefits—on average, about 30% of total compensation is attributable to employee benefits. With benefits accounting for such a large portion of an HR team’s budget, it’s no wonder that many companies struggle to create a benefits strategy that provides competitive benefits without breaking the bank. 

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Luckily, there are several strategies you can implement to provide enticing benefits at a reasonable cost. In this guide, we’ll cover 13 strategies for reducing costs and maximizing your budget across your entire suite of employee benefits. 

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Here’s what you’ll get:

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• 💡13 proven strategies to reduce costs and optimize your benefits spend
• 📊 How to assess the effectiveness of your current programs
• 💼 Insights on tax-advantaged accounts that deliver value without increasing your tax burden
• 🎯 The ROI of competitive benefits for recruitment, retention, and reducing turnover
• 💸 The power of consolidating point solutions into flexible benefits accounts
• ⚕️ Ways to boost employee health while cutting healthcare costs
• 💰 The financial impact of investing in a platform with forfeiture rules