When I speak to business owners, HR Directors, and CFOs, my first question is usually the same…. “So which of the Benefit Strategies did your broker recommend for your company?” The response I typically get is either a blank stare, a long uncomfortable pause, or a candid “what strategy?”
There are so many ways to strategize your Employee Benefits offering, it’s just a matter of what direction you want to go. The strategy not only saves a ton of money, but more importantly, it changes the way companies and employees think about their Employee Benefits. The mindset change involves thinking about Employee Benefits more like an investment, and how to best “fund” that investment.
Employee Benefits Financial Plan
At Brauer Insurance, our strategy involves the use of an “Employee Benefits Financial Plan”. Once you begin to think of it in terms of “financing” the healthcare of your employees, the discussion changes. It changes big time. And it changes in a way that not only lowers costs, but actually INCREASES benefits. How great would it be to actually have some control over what you pay for benefits. Well, I have many testimonials from companies that have been wildly successful with our strategies.
The second biggest expense for a company is the Employee Benefits….right underneath wages. Why NOT have a way to bend the cost curve a little. What you’ll find is that most companies will budget for Employee Benefits, but you won’t find many that actually incorporate a strategy. It takes a bit of work to put together, but the rewards are fantastic.
Being a Detective Sergeant for many years probably made me more candid than I should be sometimes. But I really think being brutally honest is a good thing. When I meet with a potential client, I try and get a feel for how much they are spending on their Employee Benefits. Then I quickly calculate how much commission their broker is earning. Then I tell them “your broker is earning about $xxx a month, do you think your getting your money’s worth?” I feel that’s a fair question. Most employers are more than a little shocked at how much the broker earns, especially if their broker has no strategy, or added value benefits, and really doesn’t do much more than see them once a year at renewal.
At Brauer Insurance we believe in giving back to our clients. Giving back includes not only our unique strategy, but all of our Added Value Services like an in-house HR Attorney, ObamaCare compliance paperwork, COBRA administration, etc. We make a good commission…why not provide a great value to our clients.
Employee Benefits do NOT have to cost you a fortune….they really don’t.