Navigating the BPA market: Overcoming challenges for new entrants
From healthcare to retirement benefits, employees seek security while selecting a company to work with. HR teams go to great lengths to maximise employee benefits to increase retention rates while remaining within the company’s budget. With the increasing health and pharmacy costs, traditional benefits models may not work anymore. Employers need innovative benefits packages that are flexible, customisable, and meet the needs of different demographics. New entrants face an uphill battle and seek the assistance of third-party experts to remain agile with the changing benefits administration landscape.