As a founder, you make decisions on an everyday basis and one of them pertains to talent, recruiting, and benefits. Unlike your other concerns and expenses however, not too much data, insights, or tools are available for you to intelligently base your decisions upon. Apparently, employee benefits can be very expensive if you just rely on your insurance broker for information. In addition, if you are looking at employee retention, you have to know what your competitors are offering. Needless to say, you have more questions than answers in this case but then you have to figure out a way to work it out so you can make the right decision for your company and for your employees. Ultimately, you want to create a company culture that is going to drive your business to heightened growth. In this episode, discover the tools and methods to use to leverage the world of benefits for company growth.
Tariq Hilaly is the co-Founder and CEO of Lumity, Inc., a data analytics company dedicated in helping both employers and employees navigate through the wonderful world of benefits. Lumity is a world’s first data-driven platform for benefits and Tariq’s mission is to make health plan and benefits decisions easier to make using tools and insights that result in cost savings for companies and better benefits for its people. Prior to Lumity, Tariq co-founded Motif Investing which is an innovative investing site for consumers to easily build, buy, and share portfolios.
In this Episode:
- How a painful personal experience led Tariq to create Lumity as an extremely helpful tool in navigating through the world of benefits
- How both employers and employees do not get the help they need in figuring out benefits to their advantage
- How to use employee benefits to bring in top talents and retain them
- How to present benefits to prospective employees in a well-organized and convincing manner
- How to set up benefits for employees that will not cost the company too much
- How incentives differ between employees, middle management, HR and how founders can deal with it proactively
- How to create a culture conducive to company growth using benefits and incentives
- How start ups need to be cognizant about cost and its effect on company culture and savings
- How the good of the group takes precedence over the individual in relation to benefits
- How founders need to support HR in their tough functions
- How founders are primarily responsible for creating and setting the company culture