What is an Employee Benefit Specialist?
The ability to attract and retain employees is a major priority to businesses, large and small. What can an employer offer to new and existing talent that will add value to their job? With a competitive labor market, you need to be aware of what it is that attracts valuable employees.
But, it’s not as easy as finding out what benefits are sought after and simply offering them.
Employers nowadays are burdened with so many human resources and management functions, on top of overseeing all other operations of a business.
Finding the time to shop for and implement those benefits can be a struggle. Having to consider HR compliance and legislation, enrolling employees and their families into insurance plans, dealing with carriers, etc., can be overwhelming.
How do you manage the daily benefits operations and know you’re doing it efficiently and in the most cost-effective way? That is where an Employee Benefits Specialist comes in.
What is an Employee Benefits Specialist?
An Employee Benefits Specialist is an individual who gauges the needs of an employer and their staff as far as what benefits are important to them. They tweak the benefit plan to fit your unique values and budget and manage them on behalf of your business.
A specialist’s overall goal is to improve employee health and decrease health-related costs.
All employers should at least seek consultation from a knowledgeable benefits specialist, such as a Healthcare Consultants, Inc., representative, to review their current plan for any improvements.
More often times than not, there can be opportunity for saving cost and receiving better healthcare.
What Makes a Healthcare Consultants, Inc Specialist different?
Your plan design should be more than a universal transaction. No two plans are the same. All benefits strategies are different.
Your specialist will know the different types of benefits and how they attract different workforce. It all just depends on your employee demographics and what their needs are. What a millennial employee is looking for may not be the same as what a baby boomer needs from their employer.
Some other examples of employee benefits include paid overtime, medical insurance, profit sharing, retirement benefits, paid vacation, and more.
There are lots of things to consider when looking for the specialist that’s right for you. You need to ensure that you’re hiring the best advisor for your business that is resourceful, understands the needs of your business and staff, is attentive and local, among other things.
The relationship a specialist and their clients is based on trust and concern for the client’s best interest. Our agents possess the top qualities in consulting that result in saving expenses while improving benefits.
At Healthcare Consultants, Inc., we can help you decide what truly matters to your workforce and how to attract and retain the best talent.
Qualities of Top Employee Benefits Specialists
An employee benefit specialist should be your advisor and service you in these areas.
It’s not always ideal to have a specialist that is representing a large brokerage, versus a smaller one. Many believe that a larger firm offers more, when truly their service may not be as personable and custom as clients may hope.
What really matters is having an agent that is local, who knows the local market and legislation. You want an agent who can relate to your demographics and the area your business operates in.
Houston is the second-most prosperous city in the United States and one of the top five fastest-growing. Your benefits need to reflect that you recruit and care about the most sought after candidates.
Your employee benefits specialist should be knowledgeable and constantly updating you on the latest health insurance regulations and human resources news, and how they affect your business. They must carefully design plans to comply with several federal laws, and educate you on types of wellness plans and which rules they comply with.
Your specialist will compare group rates and what factors can affect it. (Age of group, overall health of group, size of group, claims history of group, plan design) They can then present you with multiple offers that may compliment your group.
How involved was your last benefits specialist? Are they making sure that you are utilizing all of your benefits? Do they host education sessions with your employees and in person enrollment meetings?
Do they break the information down for your staff so that they completely understand their benefits, therefore making them better healthcare consumers?
If you are searching for an Employee Benefits Specialist to assist you with your benefits management, or to review your current plan for a consultation, give Healthcare Consultants, Inc. a call. 713-626-2838