Why Best-of-Breed Benefits?
Posted on June 14, 2017
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 The “one stop shops” and “all-in-one” benefits solutions of yesterday are quickly becoming outdated modes of delivery.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.