As you plan for 2026 open enrollment, one big question should be at the top of your list: Are your employee benefits still competitive?
For many small to mid-size businesses, benefits have become one of the most important factors in both employee satisfaction and recruiting. Rising healthcare costs, shifting workforce expectations, and increased competition mean that a “set it and forget it” approach no longer works. Employees are paying attention—and so are job seekers.
At LBMC Employment Partners, we care about helping our clients find the right answers. As a PEO-first company, we are more than a service provider; we are a co-investor in your success. We want to help you turn your employee benefits into a strategic asset.
Here are some of the key factors to know about benefits benchmarking as you finalize your 2026 plans.
Benefits benchmarking means assessing your current benefits package and asking, “How does our package compare to what similar companies are offering?” Here are the key areas every business should evaluate:
A strong plan balances affordability with meaningful access. It’s not just about offering the lowest-cost plan. You also need to make sure that the provider network is broad enough in your area so employees can actually use their benefits. This is especially important for companies with multi-state operations or remote employees.
A well-designed plan with limited coverage won’t drive employee satisfaction. Companies should review premiums, deductibles, and out-of-pocket maximums alongside network adequacy to make sure employees get true value.
Healthcare is only part of the equation. Ancillary benefits like dental, vision, retirement savings, disability, and supplemental coverage are becoming more important to employees every year. A 2025 survey from the Bureau of Labor Statistics showed that 72% of private industry workers had access to medical care plans, but small companies often lag behind large ones in access to key benefits like vision and dental.
These “extras” can tip the scales when an employee is comparing job offers or deciding whether to stay. Building a robust, well-rounded benefits package sends a clear message that you’re invested in the whole employee, not just their healthcare.
Small and mid-size businesses often face limited bargaining power when trying to secure top-tier benefits. At LBMC Employment Partners, we help our clients overcome this challenge with data-driven insights and hands-on support. When you partner with us, we evaluate every aspect of your benefits to ensure you’re offering meaningful, competitive options that attract and retain top talent. Here are two key areas we focus on:
LBMC EP has extensive experience with a variety of benefit plans, allowing us to accurately assess typical benefit packages and offerings depending on industry, size, and location. This data is what truly informs benefits benchmarking.
We leverage proprietary data to negotiate with major carriers on behalf of hundreds of businesses. Armed with that information, we can share insights and make specific recommendations for organizations looking to gain a competitive edge. In fact, companies using a PEO like LBMC EP are 12% less likely to see employee turnover because they can offer superior benefits and HR administration.
If your current benefits package is falling short, transitioning to a better solution does not have to be complicated. At LBMC EP, our team has made it easy with a streamlined process for switching to a PEO before open enrollment.
First, our team collects basic employee demographic data, current plan offerings, and cost information. Next, our underwriters and carriers will provide the company with the most competitive solutions. Our approach dramatically simplifies the evaluation and transition process.
As you plan your budget for 2026, ask yourself these tough questions to evaluate your benefits strategy:
If you answered “no” or “not sure” to any of the above, it’s a sign that finding a PEO partner like LBMC EP could add real value for your business heading into 2026.
Benefits benchmarking is essential if you want to retain your best people and stand out to new hires. The good news? You don’t have to figure it out alone.
At LBMC Employment Partners, we combine the power of a PEO with industry expertise, better benefits access, and dedicated teams who know your business. We’ll help you evaluate your current package, identify opportunities for improvement, and implement solutions that keep your business competitive without overextending your resources.
Ready to get started? Download our free year-end HR checklist or reach out to learn more about how our PEO services can provide the expertise, tools, and service you need to grow with confidence in 2026.