How Greenhouse Software Drove Six-Figure Savings
Greenhouse Software, the leading designer of recruiting and onboarding software, set a quarterly objective to strengthen internal culture and prepare for future growth. They needed to explore best-in-class benefits solutions to replace their current PEO vendor. As they approached 200 employees, they also needed to show cost savings to justify the move.
To recruit and retain star employees to their growing company, the People Operations team was looking to build a better benefits program that suited the needs of their bi-coastal teams. They also wanted an intuitive, online benefits administration and enrollment experience that empowered employees to make better benefits decisions with a technological solution that suited their savvy team.
Lumity’s benefits consultants analyzed Greenhouse’s current benefits and enrollment information and modeled an expected cost savings based on their current demographic health risk profile.
With a favorable risk score, the team moved forward with additional modeling that compared health plans and ancillary benefits paired with competitive payroll license fees. Armed with this analysis, Lumity farmed out bids to all major carriers - ultimately winning an extremely favorable rate that represented a 41% pure savings with better benefits.
Moving off of a PEO began with Lumity’s team assessing the essential aspects of existing Greenhouse People Ops workflows and administration to ensure a seamless migration. Afterwards, Lumity’s benefits administration software and compliance services ensured Greenhouse plans were ACA compliant and offered insurance billing reconciliation services critical to build a strong foundation for the People Ops team to take over post-migration.
For open enrollment, Lumity’s software provided Greenhouse’s tech-savvy group with an online enrollment flow that showed them best-value recommendations for their health plans. Prior to open enrollment, Lumity’s communications team worked with Greenhouse People Ops to create custom-branded benefits guides and education materials to assist employees with fully-comparing plans and understanding their new benefits program.
Lumity Testimonial: Greenhouse Software from Lumity Benefits on Vimeo.
Greenhouse migrated from the PEO with 41% in savings, better benefits and a benefits administration solution that automated their critical workflows and manual processes. This allowed the Greenhouse People Ops team to use those savings to offer free benefit plans and additional perks to their employees, and to focus on their people and continue strengthening their internal culture.
As Greenhouse’s benefits partner and broker, Lumity’s data-driven benefits consulting, administration software, and dedicated support were available at no additional cost to the company.
Additionally, the company provided HSA contributions to the high deductible PPO plan that provided a compelling incentive for young and healthy employees to pay less for coverage up front and accrue savings in health savings accounts for the future.
We knew success and satisfaction with our benefits program was necessary for the continued growth of our business and our culture - Lumity understood that and was laser-focused on supporting both aspects of that with their benefits approach. Their migration process not only got us better rates but really supported our People Ops team so we could improve the benefits experience for our employees.
Director of People Operations
If you're interested in seeing how Lumity can help optimize your company's benefits, contact us at email@example.com.