Every 10 years, the federal government conducts a Census to get a better picture of the overall demographics of the country. This report is an important document, as everything from federal funding to a state’s number of congressional representatives are determined by the results.

An employee census works in a similar way. This report is an overview of the demographics of the employees in your company. It gives a bird’s-eye view of your employees that insurance companies often use to determine what policies they will offer you, and how much they will cost.

Below, we’ll discuss in more depth what an employee census is and why it’s so beneficial to have.

What is an Employee Census?

An employee census is a study that you will conduct that will provide specific demographic information about every employee at your company. The report that comes from this study will provide you with a snapshot of your overall employee population.

While this census won’t provide specific information to outside sources regarding the names, addresses and other sensitive data of your employees, it will provide general demographic groupings.

At the same time, these reports can be very comprehensive, depending on the size of your company, the diversity of your employees, and who or what you’re conducting the census for.

This information can be used in a number of ways. It can be used to ensure your meeting all compliance regulations, or to receive quotes on benefits plans from insurance carriers.

Why is It Important?

Just like getting a quote for auto insurance, the more detailed the information you can provide on your employee base to a health carrier, the more accurate a quote you can get from them.

Here are some of the main reasons why an employee census is so important.

Cost

If a health carrier doesn’t have a good idea of who they are going to be providing health coverage to, they have to make certain assumptions that may or may not be true about your employees. This helps them to mitigate potential risks on their end of paying high costs for providing this coverage.

For your employees, this could result in much higher premiums and out-of-pocket costs than they should have to pay. An employee census can result in your employees, and your company, paying exactly what you should be paying.

Coverage

While a big part of an employee census is getting an accurate cost for health benefits, an equally-important aspect is ensuring that you’re providing your employees with health benefits they want and need. A lot of this will be determined by your employee demographics.

A younger demographic, for example, might desire more telehealth options and the ability to visit whatever doctor they want without a referral. An older demographic might prefer in-office visits and not mind having to get a referral.

There are many other potential examples. By having a solid grasp on who your employees are as a group, you and your health benefits manager will be able to create a benefits plan that serves them best.

Other Perks

Outside of just health benefits, an employee census can also help employers dictate what other perks they want to include in their employee benefits package. This can be everything from unlimited PTO plans, daycare reimbursements, gym memberships, mental health app access, retirement savings plan and much more.

By knowing the demographics of your employees, you’ll be better prepared to understand what will likely be the most appealing to them. That’s because people’s needs and interests oftentimes depends on their demographics — such as their age, location, and marital and family status.

What Should an Employee Census Include?

Everyone who works at your company should be included in your employee census. This includes all full- and part-time workers as well as seasonal help. You can certainly separate these employees into different buckets based on their employment type.

As mentioned before, the type of information that you include in the employee census will depend on why you’re conducting it. Generally speaking, though, you should have some basic information that includes …

Basic demographic data such as name, Social Security number, age, mailing and home address, contact information, employer ID number (if they have one), preferred language, ethnicity and race
Data on any dependents they may have
Employment stats information such as type of employee, hire date, whether they’re in a probationary period, how they’re paid and job title
Compensation data such as how they are paid (hourly or salary), the amount of their pay, how often they’re paid, whether they receive any commissions and/or bonuses
Benefits they desire, which can come from an employee survey
Whether the employee plans to participate in or waive health insurance coverage, again which can come from an employee survey
It’s also key to include basic information about your company, such as your name, address, contact information, type of business, requested effective dates for benefits coverage, total number of employees who wish to enroll, and any information on your prior and/or current insurance carrier.

Conduct an Employee Census with Beckham Insurance Group

An employee census is a vital report that any company can use for a variety of benefits. One of the biggest ways it’s used is in determining options for benefits coverage and the cost of doing so.

At Beckham Ellis Insurance Group, our experts can help your company in the South Carolina or Georgia region conduct an effective employee census. We can also help you find the best benefits package that serves your employees’ wants and needs.

For more information, contact us today.