Two years ago, I learned about a software product called Fringe Facts®. This system produces customized employee benefit statements. I was aware that the idea of employee benefit statements was not new, but I had never seriously considered such a service before. I realized that if I could offer employee benefit statements as a value-added service to my clients and potential clients, I could help set my company above our competitors and increase profits at the same time. I would be providing my customers with a simple yet profound tool to communicate the scope and value of their benefits package to their employees.

After offering this service for less than two years, I have confirmed that it is an excellent way to get our company's foot in the door for new clients. Using Fringe Facts has increased our overall business an estimated five to 10 percent already. And I know of at least one client whose business we could not have gotten without it. Likewise, it enables us to keep our current clients abreast of what we are doing for them, which helps ensure their continued business year after year.

Through those partnerships I have clearly seen the positive effects of employee benefit statements. From the employer's point of view, the statements boost employee morale and reduce worker turnover. This is a boon because it keeps costs down, thereby allowing employers to offer even more competitive benefits to prospective employees in the job market.

From the employee's side, benefits statements provide invaluable information at a glance about the entire range of their benefit package. Employees can see a summary and/or detailed description of each benefit and its value—from free coffee to medical insurance coverage to country club memberships. They can track the progress they are making toward their retirement goals and learn of new benefit options. In the final analysis, they gain a greater appreciation for the high cost that their employer pays for those benefits and respond by being more productive employees. There are perhaps few arenas in life where everybody wins, but this is one of them.

Whether employee benefit statements are used to help turn the key that opens other business opportunities or simply as a stand-alone service, the positive results can be significant. While both approaches have certainly helped our business significantly, the real benefactors are our clients. Watching their companies grow and strengthen, seeing their employees become happier and better informed—these are satisfying accomplishments indeed.