Why Best-of-Breed Benefits?
Why Best-of-Breed Benefits?

Why Best-of-Breed Benefits?

Your clients don’t all fit in the same box, so why should their benefits platforms? As Bob Dylan famously sang, “The times they are a-changin’.” The “one stop shops” and “all-in-one” benefits solutions of yesterday are quickly becoming outdated modes of delivery. Brokers on the cutting edge, however, get it. They know that best-of-breed benefits are where it’s at, and they’re constantly on the lookout for new solutions that can help their clients succeed.

Much like so many cable television packages these days, fully integrated ERP systems can be cost prohibitive – especially for smaller companies – and they’re quite often bloated with features your clients either don’t need or will never use. For example, a mom and pop shop with a handful of employees might only need a performance management solution and not have any use for succession planning or career development functionality. So why should they be required to pay for modules that don’t work for their business? The short answer is, “They shouldn’t.”

You and your clients should have the ability and opportunity to pick and choose the best benefit platforms for their business that will also integrate with their payroll and HR systems… regardless of the vendor. You should also have the capability to configure their systems the way your clients need them, not the way an all-in-one package forces you to. Providing best-of-breed solutions also increases flexibility since the platforms can be adapted to incorporate your clients’ existing processes and procedures, instead of the other way around. This greatly reduces, and sometimes even eliminates, time-consuming, costly learning curves.

The majority of best-of-breed solutions also have the benefit of being cloud based. Since there’s no software to load, cloud-based solutions can be implemented in just weeks – not months, or sometimes even years that are required for a highly complex integrated platform solution. Updates and patches are automatically installed, which reduces friction and load on IT resources. Ultimately, best-of-breed solutions provide convenience and choice to your clients. They’re not locked in to a single solution and can determine precisely which platforms best serve their needs.

When selecting your HR and payroll solution, it’s important to ensure that it can seamlessly integrate with industry-leading scheduling, recruiting and talent management; benefits administration; and 401(k) platforms. This ease of use can also allow for one-time entry of employee information, virtually eliminating the need for extra time spent in multiple systems, which can help eliminate costly data entry errors. You also gain one-touch access to the valuable employee data you need to help your clients (and your firm) succeed.

Helping our partners get the most out of our service so you can enable your clients to keep ahead of the curve is key to your success and ours. Let’s talk about how our integrations can improve your clients’ HR and payroll experiences today. Click here to refer a client today.

More to Discover

BUILD Web Summit - Build a Competitive Compensation Plan

BUILD Web Summit - Build a Competitive Compensation Plan

Learn how to build a compensation plan that keeps you in line with the market and maintains compliance. Speaker: Christine Ippolito Christine Ippolito, SPHR, SHRM-SCP is the Founder and Principal of Compass Workforce Solutions, LLC, a consulting firm providing strategic human resource expertise to small businesses to reduce exposure and increase profitability. She has served clients in a leadership capacity for 25 years in multiple industries and environments within Fortune 250, venture capital and equity-backed companies, as well as privately held and family-owned businesses.

BUILD Web Summit - Build a Compelling Benefits Package

BUILD Web Summit - Build a Compelling Benefits Package

Learn how to build benefits by assessing culture, segmenting the population and utilizing benchmark reports to determine the best options for your organization. We will also discuss how benefits have grown from foundational to experiential and the latest pillars of wellbeing. Speaker: Andrea Toben Andrea has 15 years in Human Resources and Operations management with extensive knowledge in strategic benefit plan design focused on cost savings, competitiveness, and employee satisfaction with enthusiasm toward developing a culture of wellbeing and consumerism. Experienced in regulatory compliance, communications & employee engagement, wellness program implementation, vendor relations, retirement plans. Her experience also includes...

5 Steps to a Highly Effective Employee Benefits Strategy

5 Steps to a Highly Effective Employee Benefits Strategy

Companies that offer strategic benefits perform 24% better than ones that don’t, recruit 8% more effectively and are 17% more likely to retain employees. But selecting the right benefits mix isn’t “cut and paste” – there’s no one-size-fits-all solve. Your workforce is diverse and multigenerational; your employees want and need different things. Discover the 5 key steps to designing a employee benefits strategy that drives recruiting, retention and business results.

EEO Compliance: Are You Prepared to File the Updated EEO-1 Report?

EEO Compliance: Are You Prepared to File the Updated EEO-1 Report?

On April 25, 2019 a federal judge announced a ruling that will require employers to collect 2018 employee pay data and hours worked by race, ethnicity and gender and submit it to the Equal Employment Opportunity Commission (EEOC) by September 30, 2019. On May 1, 2019, the EEOC decided that they will collect 2017 pay data in addition to the 2018 pay data that was previously announced. The EEOC is expected to open the portal for employers to submit 2017 and 2018 pay data beginning on July 15, 2019. Note: Employers are still required to submit component 1 of the EEO-1 form by May 31, 2019. What are the new EEO-1 reporting requirements? The current EEO-1 form requires company employment data to be categorized by race, ethnicity, gender and...