Companies that offer robust incentives such as tuition reimbursement, relocation assistance, and sign-on bonuses to attract and retain talented employees typically have only half of an employee compensation program.
The missing half is the recovery component, which is critical in order to generate cost savings for the company. Those savings can then be reinvested into your company’s efforts to attract and retain top talent, ultimately reinforcing the original goal of a compensation program.
Companies we have worked with often cite how adding an effective recovery component has helped them improve their employee retention rates. Employees are much more likely to stay if they know compensation dollars will be recovered if they leave early. If an employee leaves early, companies can reinvest recovered dollars into attracting new talent.
Multiple companies we’ve worked with who attempted to create internal compensation recovery programs have similar issues. They had concerns about harming their community reputation, being seen as a debt collection agency, legal departments advising that it’s simply not worth the effort, and wasting valuable employee time.
Benefit Recovery Group has been very successful in creating a system for our clients that eliminates these concerns while recovering compensation dollars that our clients are reinvesting in their employees. BRG has full-time staff dedicated to managing each and every aspect of the recovery process from beginning to end. We provide:
• Consulting to develop a unique compensation recovery process to fit your organization
• Contractual/Payroll Balance Confirmation
• FICA Tax Letter Administration
• Confirmation Tracking and Receipt of Outstanding Balance Notice
• Communication and Coordination with all Involved Parties
• Phone Call Reminders
• Payment Plan Administration/Monthly Invoicing
• Accounts Receivable Confirmation and Administration
• Facility/ Region / Program Reimbursement Reporting
• Legal Advisement and Representation