More and more businesses, of all sizes, are discovering the value of benefit consulting firms. The right benefits partner can be an investment which almost immediately pays for itself with better benefits packages, streamlined administration, and far fewer costly mistakes or legal compliance problems.
The issue is finding the right employee benefits administration service to meet your needs. With so many benefit consulting firms out there, each targeting different sectors, it’s vital to find one which aligns with your own goals.
These are some of the factors our team at Arrow Benefits Group think you should look into when evaluating them.
Five Aspects to Finding the Right Benefits Consulting Firms for Your Needs
1 — Experience and track record
Benefits consulting is not a field easily entered into, and many would-be consultants fold quickly. Those who survive will have a long track record of success and experience working with a wide variety of businesses. Ask for case studies or testimonials, so you can evaluate them for yourself.
2 — Overall size
When it comes to insurance and related fields, bigger usually is better. Bigger means better access to a wider variety of plans and services, and more opportunities to leverage economies of scale. Stability is particularly important if you’re looking at outsourcing key administrative processes. You need a partner you know will be by your side for years to come.
3 — Personalization
Employee benefits are never a one-size-fits-all proposition. The best benefit consulting firms will work with you carefully to understand your workforce, their needs, and your overall long-term goals to create fully personalized plans that meet all your needs.
4 — Are they national or global?
If your company operates offices overseas, finding a partner who can handle your benefits packages in any company is a must. There are few who can do this effectively! If you have global ambitions, pick a benefits consultant with the global expertise to match.
5 — Employee outreach
Are they capable of working with your employees, creating training materials, conducting seminars, and otherwise helping in education? These are services you want since well-educated employees are a crucial component of a well-optimized benefits administration system.
Choose Arrow Benefits Group to Streamline Your Benefits
As one of the world’s leaders in benefits administration, we have the reach and the expertise to cut costs and improve quality in your employee benefits administration. Contact us today for more details.