My last few weeks have been very busy talking to a whole lot of agent that I know and several meeting with new prospective clients. I have been hearing about the ways that these agents and companies have gone about “skinning their cat” when it comes to employee benefits.
In these discussions I hear things that better crystalize my role as a benefits Broker.
3 Things that Matter in Benefits:
~ Have the right clients ~
Sometimes I meet with a prospect that I know isn’t a good fit for the agency. When this happens it reminds me how important that my view of benefits aligns with my client’s. I want a client that really cares about their employee and is concerned about their well-being. I work hard to create a benefits package that maximizes the client’s budget. The bad client is only concerned with the least he can offer. In turn, the employees are also only concerned with the least they can offer to the employer. It’s ugly for sure.
~ Strategy & Education is Important ~
The market is changing all the time. We work hard to try to implement strategies to help contain costs to our client’s medical plans. With that, it is important to use a mixture of employer paid and voluntary benefits to meet the needs of employees. The strategy is useless unless the employees know the plan. So educating the employees about how their benefits work and how to make claims is just as important.
~ Help the HR Staff to be Better at Their Jobs~
A few years ago we started realizing that our clients in the fewer than 100 employees segment had either an overworked HR staff or a person responsible for payroll, which by default, became the HR staff. We are in the helping others business and our HR people needed the help. We went out and found a HR platform that we give to our clients. It can take care of the employee from the time of application through termination and COBRA.
Getting into the market and seeing what is out there is important. We see some people that have really butchered the cat when they tried to skin it and we help them. But Ii’s also good to see the work of some my competition that are really good at what they do too. These great competitors make me strive to be better at what I do to stay ahead of them.