'We'd never take a static approach with benefits'

As the president of Peak Benefit Solutions, Chris Zelasko has been in the industry for 20 years. Speaking to Benefits and Pensions Monitor, he says that he gained a lot of knowledge over his career – particularly around client support and open communication. Two aspects he believes are embedded into the DNA of his team’s current process.

“When I think about how we got to where we are today, it’s very intentional,” Zelasko says. “It’s an intentional approach towards employee benefits, it’s very process driven. The process is focused around brining in a new client, their experience with us and our team, and allowing them a glimpse of what they can expect form us.”

And every member of Zelasko’s team follows this process - buying into supporting the client and making that experience top tier.

“We begin with a simple process - we'll have understanding of where there are gaps in the current coverage or identifying specific needs, whether it's using things like benchmark reports or employee surveys to help gauge where the value of that plan is for the team and for the firm.”

Zelasko takes pride in how his team shines during this phase, ensuring that clients receive the full spectrum of support and guidance needed to navigate their benefits landscape effectively.

“Once those decisions are finalized, I think that’s where we really shine and where we can really support our clients and their benefits,” he adds.

However, Zelasko's philosophy extends beyond the initial setup and into the continuous nurturing of client relationships. The approach is anything but static; it involves ongoing reviews, updates on industry and legislative changes, and comprehensive claim support.

“It’s never a one and done, set it and forget it mentality with us,” he tells Benefits and Pensions Monitor. “We take the relationship right through, providing mid-year reviews and updates in industry and legislation. Right down to providing claim support, administrative support, to the teams so that they really understand what that focuses on - the communication and value that we can bring to them.”

And some of the other initiatives Zelasko's brought forward over the last couple of years have been propelling this success forward. Recently, Zelasko’s team has broadened their expertise by integrating specialized roles such as a group retirement specialist. This addition ensures that members have access to knowledgeable advisors focused on retirement planning and governance, further enhancing the value proposition for clients.

Moreover, the strategic decision to cultivate industry-specific expertise within the team has fortified their ability to deliver customized solutions. By deeply understanding the unique challenges and values of different sectors, Zelasko's firm is better equipped to propose relevant and impactful benefits strategies.

“[It’s about] making sure that the governance of their programs are really working for them and that they're staying up to speed. We've also taken it a little further -  as business goes on, people on our team tend to specialize. They’re looking at different industry sectors and associations and how to build those relationships. [It’s about] understanding the value that companies are bringing to their industry, and the typical challenges they face that we can help them overcome.”

Ove the years, Zelasko's helped an innumerable amount of clients deal with the intricacies of mergers and acquisitions. Looking at timelines, assessing effectiveness and ensuring open communication are, again, all top of his hit list.

“Here, one client comes to mind,” he says. “They've really propelled their growth. About 10 years ago, I was connected with them and their entry into Canada - they only really had one or two employees at that particular time. We had to get creative, putting an effective competitive benefits plan together for them. And it's hard to do when you only have one or two employees. However, over time, they've been able to grow and bring in a number of new clients and employees under their roster here in Canada.”

The challenges posed here were two-fold. Firstly, navigating growth and change as a new company and what that means for their benefits plans. And secondly, helping newer Canadians understand the benefits landscape – particularly legislations around retirement plans and health coverage.

“Being adaptable and changing has always been a focus,” says Zelasko. “The good news is we'd never take a static approach with benefits. It's always something that's going to change from time to time as we continue to grow.”

Looking ahead to what the rest of the year holds for both the sector and Peak Benefit Solutions, Zelasko’s optimistic – especially around client expectations.

“Employers, for the most part are still looking for competitive plans that’re going to help attract and retain employees. They want to be competitive. They're looking at what their competitors are offering. They also want to be nimble and adaptable to that changing workforce.”

The multigenerational workforce has never been so pronounced – meaning employers need to be staying clear of ‘one size fits all’ approaches and getting to the nitty gritty of what good benefits look like to different age groups.

“In some companies today, the needs of one generation are quite different than others,” adds Zelasko. “So being flexible and being able to make changes when appropriate, providing a balance with regards to benefits, [is important].”

A lot of organizations are now also looking at benefits as portion of the total rewards package they would normally offer a staff member. Employees are also peering deeper into how a company is going to help with retirement planning or wellbeing or family support. And while benefits haven’t necessarily changed dramatically in the past decade, Zelasko believes they’re still super reactionary.

“I think a number of employees are starting to look at how the plan can be proactive. What parts of the plan can I be utilizing that can be more proactive than reactionary? Things like their paramedical services or mental health support – vision benefits and even dental can really help [them see] a different approach with regards to the plans themselves.”