- Principle #1: Give Them Money and Let Them Shop
- Principle #2: Provide True Price Transparency
- Principle #3: Provide Meaningful Choice
- Principle #4: Offer Guidance in the Form of Decision Support
- Principle #5: Optimize the Shopping Experience
- Principle #6: Ensure a Cultural Fit Within the Organization
- Principle #7: Refine, Iterate, and Improve
This chapter examines the seven principles that make up an efficient benefits system: defined contribution, price transparency, meaningful choice, decision support, an optimized shopping experience, organizational fit, and iteration and improvement. Could it be we’re on the verge of a new Progressive Era when it comes to employee benefits? Following this blueprint for an efficient system could be a catalyst.
Throughout this book, we will delve more deeply into these seven principles as a foundation for fixing the broken benefits system in the United States. But first, Chapter 2, “Benefits: The Accidental Entitlement,” discusses how we got to where we are in order to help shed light on where we’re going.