How An Employee Benefits Broker Can Help You Attract Top Talent
Despite all the political pressure and conflict regarding the health insurance landscape there remains one constant. The advantages of offering employer-sponsored health benefits to America’s 60 million-plus small business workers have never been stronger or more important.
After salary, healthcare benefits are one of the most powerful tools for attracting and retaining employees. A 2016 Harris Poll found workers rank health insurance as the No. 1 most wanted employee benefit.
For small businesses, providing a competitive health benefit can be a challenge but also a necessity to be able to compete for talented employees. In addition to managing costs, these organizations face additional challenges when it comes to administration. These small businesses typically will have the owner or office manager reviewing health benefit options to offer and then trying to communicate the benefits to employees.
One of the most common statements from an owner or office manager is I don’t have the time to keep updated with new laws/regulations, determine the best method to lower cost and communicate the benefit to employees of the value of the benefits.
This is exactly the type of situation where a good broker or benefit adviser can enter the fray and provide some real value to the organization. They can play a critical role in educating the employer on the benefit options and advising them on how to best control cost while still offering a quality benefit.
A quality broker can provide more than just a quote and work hands-on with the owner, office manager or internal staff throughout the year providing assistance with administration as well as educating employees on the value of the benefit being offered to them.
Partnering with a good broker will take a lot of the burden of administration off the owner or office manager. Brokers with a robust offering can provide guidance with onboarding/off boarding employees, educating employees on the value of the benefit as well as other payroll support programs.
Offering a quality health benefit package in a cost-effective manner is one of the strongest incentives for attracting and retaining good employees. Find a broker that can assist in selecting the best cost-effective option to offer employees, provide direct support with administration and educating employees on the value of the benefit.