MetLife wants to give employers an edge in controlling their benefits costs and spending benefits dollars wisely.

So through its Web site, the company is offering free copies of The Benefits Edge: Honing the Competitive Value of Employee Benefits, by Dr. Ronald Leopold, vice president of MetLife Institutional Business.

Dr. Leopold contends that employers should view their benefits strategies from a new perspective.  He also introduces in the book a benefits framework that provides a systematic view to making more strategic benefits decisions.

“The research and industry insights contained in The Benefits Edge indicate that employers cannot maximize the ROI of their benefits offerings if they do not align their business goals with the goals of employees (security, fulfillment, and personal relevance),” the author says. “Employee benefits are strategic tools that can enable employers to strengthen connections with their employees, which is important given that good talent is a perennial source of competitive advantage.”

After reading the book, brokers and employers should be able to:

• assess the competitiveness of their benefits programs
• reorient the benefits discussion with senior management
• create solutions for the current tough economy that also are sustainable over the long-term

The Benefits Edge encourages readers to assess whether their benefits resources are appropriately allocated across a framework of four fundamental benefits categories: medical coverage, retirement accounts, time-off policies, and benefits administration. Each of these categories expands a traditional approach into a much broader value proposition. For example, medical coverage is broadened to health and well-being; retirement accounts are expanded to overall financial security; and time-off policies and voluntary benefits are part of larger life balance needs and fulfillment. By considering an all-encompassing element of the employee experience—coordination, communication, and delivery of benefits and education—the book presents a framework that helps employers gain a true competitive advantage.

Through his research, Dr. Leopold found that all employers, regardless of their size and other demographic factors, fall into one of four profiles when it comes to their benefits offerings compared with their competitors. He has termed these profiles “Traditional,” “Standard”, “Flexible,” and “Progressive.” Understanding their profile can help employers determine which benefits investments will be most effective given their culture and budget.

“It is important for employers to realize that a greater investment in employee benefits programs does not necessarily mean a greater benefits spend,” Dr. Leopold says. “Supporting voluntary benefits, providing access to educational resources, and improving benefits communications should also be considered part of the ‘investment’ equation. The actual monetary investment in benefits programs can vary widely among the profiles, so The Benefits Edge offers action plans that can be customized within each profile type.”

Dr. Leopold is a board-certified occupational medicine physician and holds a master’s degree in business administration. The Benefits Edge is his second book.