Benefits That Benefit Contractors
Beneco empowers contractors by providing a complete line of employee benefits and HR solutions perfectly customized to meet the industry’s unique needs
Beneco is driven by a mission to ally with contractors to empower them to build their businesses while helping their employees (and Beneco’s own team) to provide a secure and prosperous future for their families. A national firm in business for more than 30 years, serving only contractors, Beneco has grown steadily by staying true to its core principles. As they proudly proclaim, “we stick to what we know, and know our stuff better than anyone; we take care of our clients as if they were part of our family.”
While there are obvious secondary value-adds to working with Beneco, such as talent retention, winning more bids and the satisfaction of knowing you’re treating employees with the utmost respect, the main goal is to provide contractors with a complete line of retirement, medical and life insurance solutions to meet every conceivable need.
“We Love Contractors”
Anyone in the construction business knows that contractors have a unique set of needs for themselves and their families. What truly sets Beneco apart from other benefit solution companies is its laser focus on contractors. As Mark Moeremans, Beneco’s Vice President of Sales and Marketing, says with pride and veracity, “We love contractors.”
He continues, “When you think of benefits, people tend to think of the bigger players. While there are great companies out there, they don’t focus on contractors. That’s our market, and we know that market so well, why wouldn’t you want to work with someone who specializes in what you do?” The company sometimes even holds employee/client meetings at construction sites, signaling its all-out dedication to its customers.
Beneco knows business owners don’t always have the capacity or desire to focus on benefits administration. And in the contractor industry, especially with public works projects, the most minute details are important to stay in compliance. Through prevailing wage expertise, ongoing compliance and testing services, recordkeeping services, and third party administration, Beneco has your back.
Beneco serves companies ranging in size from under 10 employees to the thousands, and from packages under a million dollars to upwards of 80 million dollars in retirement. Based in Scottsdale, Arizona, and having served clients in all 50 states, Beneco has worked with every trade—carpenters, electricians, highway builders, crane operators, and excavators, to name a few.
As a mission-driven organization, Mark expresses Beneco’s “audacious goal” to support upwards of 200,000 contractors in the next five years. “Everything we do in our business,” he says, “is targeted towards that goal.”
The reason that Beneco is so mission focused is to combat the undeniable crisis in the contractor industry right now in terms of financial security. The Beneco team recognizes the importance of taking care of this group of people.
Mark explains, “The average construction worker retires with $1,500 in savings. So, you can imagine for most people that’s not even enough for one month’s rent. Creating programs in an environment where they can be set up for future financial success and security, or health success, can really make a difference. Contractors face some of the highest accidental death numbers in the country, and there’s all sorts of stats about how this segment of the market is the most at risk from a financial security, health, and safety perspective. We really want to take care of this group of men and women who are the backbone of building our entire country and are often overlooked and underserved.”
To illustrate this point, Mark shares a story about one contractor, Jim. “We were recently invited to the retirement party of an employee at a company that we serve. Jim had worked as a field electrician for this company for 30 years. At his retirement party, he started crying because he was retiring with $1.8 million in his account. For him, just an average guy, to have that kind of security…he was so thankful for his leadership team. Through planning, the whole trajectory of his life was changed.”
Ready When You Are
To support this market segment, Beneco has created a bundled solutions approach to be a one-stop shop for contractors. The team goes beyond just a simple cookie-cutter retirement plan. Instead, Beneco partners with customers with an aim to understand each specific business and then to help strategically use targeted solutions as a way to build something bigger.
Beneco encourages any contractor or contracting firm throughout the United States to contact them. The company will do a complimentary benefits consultation to see how its services can help improve business, even doing a free benchmark of existing benefits to ensure compliance and that the right coverage is in place at the right price.
Special offer for all members of The Blue Book Network®: Mention “Blue Book” to receive 50% off compliance and testing fees in perpetuity. Beneco is ready when you are!