Understanding your costs and budgeting for them is critical for all business. Lockton understands the mechanisms across all jurisdictions and can provide regular projections of insurance costs for current and future years.
Tracking and planning your compensation costs
Understanding your insurance costs and budgeting for them is critical for all business. Unfortunately, we often see businesses caught short with inadequate accounting provisions as they hadn’t projected sufficiently or with due care.
Lockton understands the premium and formula mechanisms across all jurisdictions and can provide regular scheduled projections of insurance costs for current and future years to assist not only with budgets and accruals, but also with future planning.
In addition, our in-house tools allow us to work with you to allocate premiums between your divisions to ensure appropriate cost allocation, increasing the incentive for divisions to improve their own performance.
Latest news and insights
NSW Workers’ Compensation 2023-24: looking beyond the average 8% increasesarticle
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Lockton People Solutions FAQs
What is Lockton People Solutions?
Lockton believes every business maximizes their potential when their people maximize theirs. That’s why we help our clients make their business, and their people’s lives, better. We know employers need solutions that help balance attracting and retaining talent, manage costs and promote employee well-being. Lockton helps guide clients to people solutions that drive employee understanding, engagement and satisfaction; incorporate competitive total rewards and benefits packages; and manage and measure the effectiveness of your programs.
What value can we bring to your business?
We work with every client thinking about how we can best improve your employee experiences to drive engagement, understanding, satisfaction and productivity; design total rewards and benefits that increase perceived value and help attract and retain talent, while controlling costs; and help you make information-based decisions, measure and manage your programs, while driving a competitive business advantage amid an increasingly complex landscape.
What products and services do you offer?
Lockton delivers a full suite of solutions in the following areas: employee experiences and engagement, total rewards and benefits, and management and measurement.
Lockton is privately owned, which allows teams to prioritize client business. Our Associates are empowered to go above and beyond to help their clients succeed and the entrepreneurial culture at Lockton fosters data-driven solutions, solving problems faster and more efficiently.
What regions of the globe?
Lockton operates all over the globe through Lockton offices and a network of Lockton Global Partners.
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