Enhancing Broker Engagement with Tailored Data and Clinical Insights
By Steve Herman, Executive in Residence | July 2024
In the evolving landscape of employee benefits, companies are increasingly looking for solutions that offer tangible value to both employers and employees. Recent discussions with industry leaders reveal key themes and strategies that can be universally applied to enhance employer engagement and optimize benefit offerings.
Five key strategies for approaching the employer market
1. Data-driven decision making:
Employers and brokers across industries are seeking data that demonstrates the impact and value of benefit solutions. It is imperative that you can show clear, actionable insights that help brokers and employers navigate the influx of new information and connect the dots between the proposed value and outcomes of your solution.
2. Value proposition centered on employee experience:
A compelling value proposition should address both the emotional and practical benefits for employees. Solutions that enhance employee well-being and culture tend to strongly resonate with employers.
3. Behavioral interventions over quick fixes:
Sustainable change often requires behavior modification, like developing health habits. should be designed to foster long-term health improvements rather than temporary fixes.
4. Strategic partnerships and simplified decision-making:
Simplifying the decision-making process can combat vendor fatigue and streamline adoption. One strategy for combatting vendor fatigue is developing partnerships with other solutions, reducing complexity and creating a more comprehensive experience for employers. Strategic partnerships can additionally enhance your solution’s overall value by offering additional capabilities. Leveraging a partner with industry expertise can help facilitate strategic conversations.
5. Customizable solutions for diverse needs:
Maintaining high levels of flexibility in benefit offerings allows employers to tailor solutions to their specific needs and priorities, like cost management or employee health. Employers will often favor a solution that allows for customizable programs.
Contact us hello@archetypegrowth.com to learn more about how these strategies can be customized to fit your organization’s unique needs and drive meaningful change within your employee benefits ecosystem.
Steve Herman is the Executive in Residence at Archetype. Steve brings 20 years of sales and management experience in the HR technology space. In his last role as Chief Sales Officer at Web Benefits Design, he built and managed a national sales force while overseeing all new revenue generating opportunities. In addition, he also sourced and supported all strategic partnerships. In 2019, he successfully navigated a transaction where the business was acquired by an insurance carrier as part of a strategic investment – an $80 million deal from what had been a bootstrapped company.
This article was produced by Archetype.