The Changing Role of a Benefits “Broker”

April 14, 2016 by in category Why Offer Benefits? with 0 and 0

Our role in this industry has certainly progressed and evolved over the last few years. No longer are we simply looked at as “brokers.” We are now more aligned with the strategic mission of our clients. Our role is now one of a strategic partner than just simply a broker. Our knowledge and expertise expands well beyond what benefits plans are in the market and the premium associated with those plans – we are now looked to as a strategic resource and advocate for Human Resources; a sounding board for overall business strategy as well as a proactive (and in this market sometimes reactive) compliance expert. Our role has expanded to wellness, education and employee support. The changing landscape in employee benefits is for many reasons:

  1. The Affordable Care Act has created an overwhelmingly anxious and confused consumer.
  2. Human Resources Departments have shrunk and the work load has increased.
  3. The role of technology in Human Resources is more prevalent than ever.
  4. Human Resources have become more administrative interactions than “human” interactions.
  5. Benefits plans and the creative solutions that come from rising costs have become more cumbersome and confusing for the employer and employee.

It is this evolution that has forced the Benefits “Broker” to think fast, stay on his/her feet and constantly improve the way he does business; the way he develops his partnership and creates new relationships. We as strategic partners are now looked to for guidance on so many more areas of employment than just benefits, from Payroll, Compliance, Education, Time Tracking, to Personnel Management.

The relationship between a “broker” and client has become much more complex, but this has lead to  much more successful partnerships.

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