When is something worth doing twice?
When it works very well.
The Benefits Technology Trust is similar to a highly successful trust program we pioneered two years ago that enables life science and biotech companies to pool their purchasing power to buy employee benefits at more competitive prices.
Since the Beyond Benefits trust launched in January 2012, 185 biotech firms have saved more than $5.8 million in annual medical premium. In total, Beyond Benefits now covers more than 5,500 employees.
Opportunity For Tech Companies
The Technology Trust operates much like Beyond Benefits and addresses a genuine problem for growing tech companies: How to attract and retain the best technology talent. In California in particular, the biggest impediment to growth for many tech companies is getting the right people.
Established tech companies such as Google, Facebook, Oracle and others typically offer rich benefits programs. That’s a challenge for private or pre-IPO companies that don’t have the revenue to support similar benefits packages.