Managing your Employee Benefits can be overwhelming, and annual plan renewal decisions can be even more frustrating when you feel helpless to make effective changes. If you find yourself in a spot that seems like a never-ending race to manage employee expectations while keeping insurance premiums in check, you may not have the right Employee Benefits broker on your side.
Linking arms with a broker who is diligently guiding your choices, bringing you innovative strategies, analyzing your data, and simply earning your complete trust can make all the difference. Does your current insurance broker meet that description? If not, it may be time to shop for a new Employee Benefits broker – one committed to partnering for your best interests, not those of the insurance carriers.
IS IT TIME TO SHOP?
Many employers overlook the importance of taking a proactive approach to their employee benefits. Because change is time-consuming, you may be tempted to accept rate increases, staying with the same benefits broker for years out of habit. The danger of complacency with a broker who only shows up at renewal time with the “same-old, same-old” is a costly one. Without a savvy broker keeping pulse of your plan performance, you can easily fall out of touch with the newest benefits trends, and lose your ability to properly evaluate whether or not your current broker is providing the best possible service.
Sadly, you may find yourself paired with a benefits broker that’s become underserving your business.
If your current broker isn’t diving deep to understand your organization’s mission, vision, culture, goals, and business strategy, it’s likely time to shop for a new one. You deserve a benefits broker who will support each of those elements and help you achieve sustainable growth. Together, you should align on both short- and long-term goals.
At Peel & Holland, this is simply the way we operate. We only success when our clients view us as a critical advisor and partner. We don’t “quote” insurance. Instead, Peel & Holland is committed to making a difference for you and for your employees. (Download our Overview to Learn More)
WHAT TO LOOK FOR
Your reasons for seeking a new employee benefits broker will depend on the specifics of your current plan, changes in your business, employee sentiment, and budgetary issues. That being said, there are some clear signs that it’s time to shop for a new employee benefits broker.
Do any of these apply to you?
- Continuing to accept year-over-year premium increases
- Staying with the same benefits package without consideration of your employees’ changing needs
- Receiving an insurance quote, with limited guidance or explanation
- Having no idea what others in your industry offer employees
- Going several years without reexamining the broker relationship
- Losing employees to other employers who offer more attractive benefits
- Difficulty finding ROI to justify investment in your current broker
Your business and its needs are constantly changing and so is the benefits marketplace. If you haven’t updated your benefits offering in quite some time, chances are that you can do better for your employees and your bottom line by talking with us.
Let’s schedule a conversation, and if there is a fit, we welcome the opportunity, and if not, we value the opportunity to share some ideas and friendship.