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Employees as assets, the C-suite as investors

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Employees as assets, the C-suite as investors

Apr 05, 2021
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The high cost of health care to employers is, to some extent, the result of the snowballing of bad cost-sharing decisions. “Here’s how it used to go down,” says Emily Taylor, CFO and CHRO at Naturally Slim. “We would be invited to the annual benefits renewal meeting. We would hear all of the claims that had taken place and the total cost. A couple of years in a row, it was 18% increases. You’re sitting there as the CFO and you’re frustrated. To be able to do these insurance benefits, I’m going to have to cut elsewhere in the company.”

However, Naturally Slim started as a carve-out from a larger company, which meant that Taylor was able to break the cycle and start from scratch. “As we were designing the benefit package, we created a cross-department team of C-suite executives,” Taylor says. “It wasn’t me picking out the benefit; it wasn’t purely HR. It was also two other areas that had a lot of employees.”

As the saying goes, an ounce of prevention is worth a pound of cure. “What was really a focus of mine was how to make sure we keep our population happy and healthy so we’re not seeing those increases year after year,” Taylor says. “If you start with a strong benefits package, it’s really going to pay off in the end.”

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