Online benefits administration platforms. Using an online benefits administration platform offers brokers numerous advantages, such as paperless online enrollment, a real-time broker dashboard, full payroll and carrier connectivity, and a mobile app. Streamlining the entire benefit, HR, and payroll processes means that brokers can give their full attention to their clients.
Educational opportunities. Navigating the intricacies of compliance is one of the most challenging issues brokers face today. A broker must stay on top of ever-changing regulations. Actively reading and researching as well as attending conferences will keep the mind sharp. Regularly attending relevant, informative webinars that provide all of the latest details about maintaining compliance is crucial for brokers to perform their jobs successfully.
Social media. Brokers who are not using the Internet as a way to market and advertise their services—as well as provide a wealth of helpful information to their clients—simply are not keeping up with the times. LinkedIn, Facebook, Instagram, Twitter, and Snapchat are social media platforms that brokers should use to establish a strong industry presence. Additionally, a modernized, easy-to-navigate website is essential for today’s brokers.
A specialty. It is important that a broker not try to be all things to all of his or her clients. Hone in on a specialty and be the best broker in that niche. Clients will appreciate it, and most likely offer recommendations to their colleagues.
Their colleagues. Competition is a natural part of the business climate. Collaboration—instead of bloodthirsty competition—is the way relevant brokers should approach achieving success in their careers. Use industry contacts to learn about the latest trends in the industry. Grab coffee or a cocktail and bounce ideas off one other. As mentioned above, successful brokers should be focusing on a specific niche, and therefore can recommend colleagues for different services instead of competing for the same clients.
ways employee benefit administration is evolving.