It’s almost that time of year again. With the 2022 open enrollment season rapidly approaching, there are several worthwhile questions that you should ponder in the coming weeks. How happy are you with your current broker? How have they best served you over the past year? Were there times when their offerings or communication felt less than satisfactory?
Whether or not you’ll be shopping for a new broker to expand upon or better your company’s benefits offerings, what’s most important when researching and auditing your current plan is weighing your employees’ needs. Do your research when building your candidate pool, and consider multiple brokers to represent your company before making a final decision. Remember to start the RFP process as far in advance as possible, too. It takes time and no small amount of effort to decide on a broker who will give you the day-to-day service and value that your employees need and deserve. Not sure what other questions to consider? Here are four to get you started:
Most employees thrive in a flexible work environment, and the same thing goes for creating a benefits package. Your employees need to see that their needs are important, which is why conducting a company wide survey and soliciting feedback will increase satisfaction in whichever plan that you choose. When choosing a plan, it’s also important not to take a one-size-fits-all approach in today’s diverse workforce environment. A good broker will have the knowledge on how to use your new plan to your advantage by keeping current employees around for longer while also attracting new talent.
A broker’s job goes far beyond simply discussing and running through your benefits plan. They should be communication experts, who possess the skills and expertise on how to address, cover and inform your employees on the best ways to approach open enrollment. In fact, nearly one-third of employees either know nothing about or don’t understand their healthcare coverage. Addressing the topic of education and transparency immediately in your broker selection is crucial to overall employee satisfaction and happiness.
When shopping for a new insurance broker, it’s important that a broker possess the expertise and knowledge regarding the rules and regulations that come with the ever-changing policies and industry. Your broker can give you the tools and resources to stay on top of this information in the time-sensitive manner you require.
Not only should brokers be experts in the insurance they’re providing you, but they should also be experts in your company as well. Your broker should have a genuine curiosity and want to dive deeper into your company’s mission, industry and demographics. From there, your broker should deliver customized information on why those solutions make the most sense for your business. And, above all, find a broker that offers you complete transparency to solidify your trust.
Technology is constantly changing and your broker needs to be changing with it to provide an easy and interactive solution for your employees to easily select their benefits plan. Although there has been an accelerated shift in transitioning to digital-first solutions, many brokers still fall short in this area. In the end, you’ll thank yourself for selecting a broker who provides you with a seamless digital experience and an efficient time-saving journey. Looking for more exclusive content? Check out what’s trending on the Mployer Advisor blog, and see what to expect from your insurance broker here.