Penmore
Maximizing the Value of Employee Benefits Packages

Workplace benefits have gained more significance in attracting and retaining top talent over the last five years, with employees prioritizing elements besides the offered salary before making an employment decision. However, employers often struggle to implement benefits packages that align with employees, finding it difficult to choose the right products and services from the ever-increasing options available in the market.

At the forefront of assisting clients and their employees navigate the ever-growing world of workforce benefits is Penmore.

“We simplify the benefits market and help our clients focus on products and services with the best value for their workforce. Essentially, we become an extension of their HR division,” says Lio Spagnuolo, president of Penmore.

It is a boutique financial advisory firm that collaborates with clients to educate them and offer fully-customized solutions for personal and corporate insurance, group and expatriate benefits, and personalized wealth management. Its deep expertise and bespoke solutions help clients maintain their peace of mind regarding employeefacing HR competencies. Penmore’s consultative approach, impeccable communication, and ability to maintain exceptional clarity throughout a client’s onboarding process set it apart in the market. Another differentiating factor is its team of retirement, and international workplace benefits specialists, who drive good relationships across all stakeholders with their deep expertise on the carrier and broker sides of the workplace benefits space.

According to Mr. Spagnuolo, most employers fail to educate employees on the benefits and the resources available to help them stay healthy. Mitigating this, Penmore starts every implementation by educating clients and their employees on the value of their benefits programs. This is a key step in its client engagement strategy, as many employees often have substantial questions about some of the features offered to them via their benefits program.

In most cases, the limited understanding workforces have of their benefits packages hinders them from making informed healthcare decisions, utilizing preventive services, joining wellness initiatives, and taking steps to prevent serious and costly health issues in the future. Penmore creates employee communication materials and facilitates education sessions to ensure a clear understanding of a program. It also accurately aligns communication, implementation, plan design, and package amendment processes to prevalent employee needs, allowing employers to manage their employee benefits packages efficiently.

Recently, Penmore successfully assisted a client looking to change their payroll from weekly to semimonthly. Although a minor change, this sudden shift could significantly impact employees’ lifestyles, especially for those living check to check. For this project, Penmore conducted a comprehensive budgeting session to educate employees on how to manage their finances and make adjustments to ensure they are financially secure despite changes to their payout schedules. This, in turn, helped the employees adapt to the shift, better plan for expenses, achieve stability, and improve their quality of life. Success stories like this solidify Penmore’s reputation in providing win-win-wintype solutions that provide value to employers, carriers, and employees.

As businesses continue to implement emerging workplace benefits to increase their overall business growth and market performance, Penmore is perfectly poised to help them achieve their goals in highly impactful ways.