Karen Trumbull English, CPCU, ARM Senior Vice President
“Always treat your employees exactly as you want them to treat your best customers,”– Stephen R. Covey, an American educator and author.
Almost unanimously, every business leader has come to acknowledge the critical role employee satisfaction plays in ensuring the best-of-class customer experience. Organizations today realize that they must look for the best interest of the employees and keep them motivated to offer round the clock support to delight their customers. And, the first step toward such a motivated workforce is a well-rounded employee benefits program that ascertains the workforces’ optimal health and their commitment to the organization. Healthy and engaged employees can significantly improve profitability, productivity, health and safety, while reducing absence and healthcare costs. In the grand scheme of things, employee benefits should contribute to the overarching objectives of the organization. Particularly in the light of emergencies like COVID-19, where healthcare costs are likely to increase and plan designs likely to change, an integrated benefits plan can help companies safeguard their bottom line. However, when the in-house professionals need external assistance to design an efficacious and strategic employee benefits program, they need experts, and one such maven is Spring Consulting Group—an Alera Group Company (“Spring”).
A multidisciplinary employee benefits and risk management consultancy, Spring offers a full spectrum of health, welfare, and retirement consulting and funding services. “We are an innovative, objective, and independent consulting and actuarial firm focused on employee benefits, risk financing, and boosting the productivity of an organization,” says Karin Landry, managing partner of Spring Consulting Group. The company optimizes its clients’ health and wellness strategies ‘to bend the healthcare cost curve. ’Spring Consulting’s comprehensive services also help its clients stay conversant with current employee benefits and risk management trends and industry best practices.
One of the key reasons why Spring’s employee benefits services are always well-received by its clients is the firm’s emphasis on the sentiments and welfare of employees (the end-users) at the core of its strategies. This enhances the employee experience and also supports talent acquisition and retention. “We work with our clients to highlight what’s most relevant to their employees and how it might impact their operations and approach,” says Karen Trumbull English, senior vice president at Spring Consulting Group. To this extent, the company is keeping its clients aligned with the rapidly changing legislation and compliance related to healthcare, insurance coverage, and leave management during the ongoing COVID-19 pandemic.
While building solutions to overcome the challenges clients are facing, Spring takes a problem-solving and value creation route.
Karin Landry, CEBS, ACI, CLTC, Managing Partner
The company, moreover, aids organizations in procuring technologies for integrating data between different systems to get a holistic view of their population health implications to create improved management. “We help our clients in breaking the information silos and integrating technologies into their ecosystem in a more cohesive manner,” says Karen. Technology procurement enables clients a smooth flow of communication between stakeholders such as HR, managers, executives and employees as well as access to real-time data.
We are an innovative, objective, and independent consulting and actuarial firm focused on employee benefits, risk financing, and boosting the bottomline of an organization
Spring begins each of its client engagements with a whiteboard, marker, and an open mind. The company typically takes a three-pronged approach, which starts by seeking inputs from the client’s key stakeholders and evaluating their goals and objectives. In the second phase, Spring determines, researches and outlines multiple options for moving forward. After analyzing the strategies with the client and handpicking the best components from each, Spring forms a single robust solution that aligns with the client’s goals. Lastly, Spring brings the roadmap to life in assisting with implementation.
To further illustrate Spring’s services, Karin cites an instance where a healthcare client was working with an actuarial firm and struggling with surging costs and losses. The previous consulting partner used to deliver a massive 200-page report without any actionable insights. When Spring came into the picture, it highlighted all the issues, prioritized the most important ones, and started executing their resolutions one at a time. Spring began by trimming the report with concise points necessary for the reader to make informed decisions and then moved to the addition of benefits and property and casualty risks to their captive insurance company to minimize costs and gain control. Zooming deeper into the situation, Spring solved for compliance issues around the client’s absence management program and optimized it further through integration with a single insurance vendor that had better processes and technology. Altogether, Spring simplified and streamlined the company’s communication process. The result: the client saved over $100 million dollars over the past decade.
Already a market leader in the employee benefits, integrated disability management and risk management spaces and funding solutions like captives, Spring is continuously expanding its services, particularly in the areas of property and casualty. Given the current circumstances of the COVID-19pandemic, companies, now more than ever, need to revisit and revise their strategies, and Spring is ready to help them surpass the hurdles ahead with its thought leadership and skill sets.