The benefits broker you select will help you determine the ideal allocation of benefits resources. But many companies are now facing budget shortfalls and considering how best to improve their benefits packages. In this latest post, our team at Arrow Benefits Group explores the process of working with a new Sonoma County benefits broker, and the reasons to change brokers.
Does the benefits broker meet your needs?
One important consideration when working with a benefits broker is determining whether they can meet your needs over the long-term. Make sure the company is located close to your business and can provide expert resources with a large enough staff to guide you forward. The company should also work with the latest technology to help automate some of the administrative tasks that slow down and limit the efficiency of current benefit processes.
Reasons to change
Consider the reasons you might wish to switch brokers. In many cases, the broker simply isn’t meeting the needs of the company. For example, a growing company will require a broker that is savvy when it comes to compliance. What are the laws in this area and how can your company ensure it meets its obligations? Another reason many companies are switching their brokers is their current broker is simply costing their firm too much money considering the level of service provided. Do you feel your firm is getting the attention it needs? Your broker should communicate with you regularly and help you to answer insurance-based questions around the clock.
What to ask brokers
Make sure you are in a position to speak with new brokers once you’ve decided it’s time for a change. Ask your new potential brokers the following:
- What is your schedule for meeting with clients?
- Do you design benefit packages?
- Can you help educate our employees?
- Will you be able to manage our compliance issues?
- What added service extras do you provide?
Our team at Arrow Benefits Group is committed to providing the highest return on investment for your benefits resources. To learn more about the company and the options we offer, please call our expert team today.