How do you define success for your benefits plan? How often do you clearly express your expectations? Do you start a conversation with “I believe” or “I know that”?
Here’s the problem: Preparing for an insurance renewal is hard. Preparing to talk to each employee during open enrollment, preparing to give bad news, preparing to introduce a new option is very hard.
What makes this an impossible task is not setting clear expectations and defining a successful transaction.
What would be the greatest success for your company during your annual open enrollment?
Could it be as simple as every employee has a new ID card 5 days before the plan starts? That’s really good, by the way!
Could you define success as knowing you introduced a valuable benefit like telemedicine and that 60% or more of your employees downloaded the smart-phone app and have logged in at least once?
Or, do you only define success as knowing that you split the overall cost an 11% increase with your employees and everyone swallowed the bitter pill and accepted this as the status quo as a good job? Of course not!
But, isn’t that what every year has been historically?
Success isn’t accidental and success doesn’t happen without intentional effort. Don’t repeat the sins of every renewal of past years!
Stop, have a robust conversation about the top three values and beliefs that drive your benefits package offering. Argue (passionately discuss) with your team and your broker if you need too, but don’t just ignore the fundamental belief that keeps you spending $100,000 or $1,000,000 or $30,000,000 per year!
Then, know who you trust to deliver not only your benefits, but the deliver the message and the core belief system behind the offering.
Don’t ignore this. Don’t put it off.
Time is always running out, but you can’t afford for your employees to lose their trust, value and confidence in your company. This is too important to overlook.
If you need us to facilitate a discussion that is uncomfortable, we can do that! We get excited to push a limit or question the status quo. We get paid to make you a better employer and enhance your culture.
Let’s talk now so that when you are finished with open enrollment, you can consider your benefits plan a success!
Bret started Generous Benefits in 2019 after 20 years of working inside the Employee Benefits industry with the goal to create a company that focused on improving communities through benefits. And the term Generous was no mistake, as Bret thinks in terms of broad scope ideas, processes, and technologies that can improve 1 person's life or the community as a whole. With this idea that Generous Benefits weren't just your typical checklist of commonplace insurance or wealth savings plans, but that a benefits package has room to be stretched, tailored, and curated to make a desirable long-term impact.
Bret also spends time coaching other insurance agencies with Q4Intelligence and participates with thought-provoking communities like Health Rosetta and the Free Market Medical Association to help expand his understanding and learn from others.