Aligning Employee Benefits with Leadership Goals
Semiconductor Design and Manufacturing Case Study
The Request
Streamline employee benefits plans to meet leadership goals.
Company Profile
Industry: Semiconductor Design and Manufacturing
Employees: 1,000+
Headquartered: United States
Offices and Distribution: 15+ Countries
When an international semiconductor design and manufacturing company shifted its focus to enhance and streamline its employee benefits plans, it leveraged its relationship with Brown & Brown to meet new leadership goals.
The Solution
Multi-pronged approach to help manage costs through behavioral changes and plan modifications.
Brown & Brown approached the customer’s request by analyzing the customer’s current employee population. The team reviewed current plan design, cost drivers, historical data and the options currently available to employees to set a baseline.
From there, the Brown & Brown team collaborated with the customer to define new ways to help control costs through behavioral changes and plan modifications. Plans were re-structured to direct employees to resources that helped both the company and the employee control costs.
This multi-pronged approach led to a long-term strategy that met company goals and better-equipped employees to receive proactive, affordable care.
In addition to managing the U.S. benefits, Brown & Brown assisted the manufacturer in developing a plan for its employees in more than 15 countries to help maximize the impact for employees throughout the world.
The Results
Employees had plan choices that aided their health and helped reduce costs for them and the employer.
Three years after implementing the new, long-term strategy, the customer’s three-year company trend was negative two percent. By restructuring plans based on how they were being used at the company, the customer was able to help employees make choices that both aided their health and strived to reduce costs for the employee and the company.
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