The 3 Cs of Government Contracting

There’s no manual for being a successful and competitive government contractor. But, there are three important principles to remember; we call them “The 3 Cs.”

Compliance. Cost Savings. Competitiveness. 

What are the 3 Cs? How do they help you win contracts? How do you master them?

Read on to learn more!

Compliance

SCA. DBA. ACA. There are a lot of intimidating acronyms floating around out there.

What’s worse? Failure to comply with all those rules, requirements, and regulations can result in withheld contractor funds, liability for the contractor, termination of crucial contracts, and (worst of all!) potentially being debarred from future government contracts. It is even possible for a contractor to be debarred for years!

Compliance can be tricky once you start to factor in health and welfare requirements, fringe obligations, responsibility over sub-contractors, and other concerns.

Boon’s in-house compliance department is here to provide support for any compliance issues that may arise, handling each situation with the utmost discretion and efficiency. Our team is here, adjusting to each new executive order and change in legislation and offering full support in the constantly evolving field of compliance and government contract standards.

Cost Savings

There are two options for hour government contractors can fulfill the fringe obligation:

  1. Paying those fringe dollars to their employees in cash.
  2. Putting those fringe dollars towards bona fide benefits (health and welfare benefits, in particular).

We recommend going with the benefits. Why?

Click here to learn more!

Investing the fringe obligation into health and welfare benefits has been reported to result in higher workforce productivity, less absenteeism, and significantly reducing healthcare expenditure overall.

Still need convincing? Did you know that employers spend two to three dollars on medical related productivity costs for every dollar they spend on pharmacy and healthcare costs? Did you also know that, in 2017, healthcare costs increased in 79 percent of organizations with an average yearly increase of 11 percent?

Employers that don’t offer solid healthcare options are at a huge disadvantage and the costs are just as large.

Competitiveness 

When it comes to providing health and welfare benefits to employees, government contractors have a choice. Maximizing those fringe dollars by developing a benefits plan that meets the unique needs of an employer keeps contractors compliant and allows ample opportunity to save money. The Boon Group can help contractors by offering bona fide benefits, which creates a tax cost savings by reducing additional expenses in the form of payroll burden.

In the arena of government contracting, projects are won or lost on mere dollars and cents. Being able to offer a low bid and quality service through your healthy, productive workforce makes you top competitor material.

Compliance and cost savings are the factors that add up to more competitive bids. You can have the full 3 Cs and start winning even more contracts.

Boon’s Mission

At Boon, our mission is to offer competitive rates and comprehensive care, with affordability and flexibility in mind. A little goes a long way and Boon recognizes that lowering costs on a contract today means bigger savings tomorrow.

Not only is The Boon Group competitive in our industry, but we want to help you be competitive in yours by offering you benefit plans that facilitate the savings that lead to lower contractor bids and more opportunity. At Boon, we understand that benefits are more than just solutions; when it comes to employee care, they are a boon to contractors themselves.

Follow the Boon Blog for the latest in industry news and happenings at The Boon Group! You can also keep up with Boon on FacebookTwitter, and LinkedIn.

About The Boon Group

The Boon Group® is a full service employee benefits company specializing in the design, implementation and administration of cost-effective fringe benefit plans for federal, state and local government contractors. Since 1982, The Boon Group has developed a partnership philosophy that expands beyond the products and services we offer. We stand with the employers and employees who, just like all who work at The Boon Group, are faced with the daunting task of navigating the U.S. healthcare system. Together, we can find a better way for all Americans to access healthcare. The Boon Group, Inc. is the parent holding company of The Boon Insurance Agency, Inc., Boon Administrative Services, Inc. (formerly named CEBA), Boon Insurance Management Services, L.P., Health & Welfare Benefit Systems, Inc. and Boon Investment Group, Inc. The Boon Group was formed to support and strengthen the position of these companies as a wholesaler of exclusive products and services. www.boongroup.com
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s