The Summer 2019 Benefit Advisors Network (BAN) Education Conference in Boston delivered three jam-packed days of education and information-sharing for benefit advisor agency members, kicked off with a performance from the Boston Firefighters Pipes & Drums team, and an introduction from BAN’s executive director.
BTR team members Josh Hoover, Corrina Nation, and Hayes Stevens were there to take it all in…and to give some back. The program included sessions on compliance, service agreements, global benefits, marketing, industry trends and more. As part of the “more,” Josh and Corrina headlined a presentation on the evolving world of HR technology and why it’s important for brokers (and their clients) to stay current on this sector — particularly around the mergers and acquisitions and the general trend toward consolidation.
Employers are feeling the impact of this M&A activity. It’s no secret that they are frustrated by the already confusing tech market and the myriad of players — compounded by changes resulting from consolidation. The good news? This environment creates opportunities for benefit brokers to step in and be the consultative, strategic business partner their clients want and need. To fill this role, agencies need a technology strategy and must be prepared to help clients build their own plan of action. Along with the message develop a tech strategy, Josh and Corrina offered two additional pieces of advice for BAN partner brokers: know your competition and use your resources and connections to stay informed.
BTR can help
We work with benefit advisors and their clients to identify and execute best-fit solutions to support a tech strategy and improve the efficiency and functionality of their existing technology. The need for this has never been greater. According to the Sierra-Cedar 2018-2019 HR Systems Survey White Paper, 21st Annual Edition, 42% of organizations report plans to increase HR tech spending — a 10% increase over 2017. Further, 91% of organizations plan to increase their HR/IT roles specific to benefits in the next 12 months. Employers are looking to get the most value possible out of their HR technology investment. Benefit advisors who are informed, connected and can offer a solid tech strategy, will be the trusted advisors who deliver that value!
Making the most of the Network
Many of BTR’s retainer partners are Benefit Advisor Network members and, as always, our team had a great time reconnecting and helping them further develop their technology strategy. We also had the opportunity to touch base with two of our ten-year partners, TIS Insurance and Lipscomb & Pitts. That’s one of the great things about BAN — we know we can hear the latest news and insights while catching up with our partners and clients. We’re already looking forward to the BAN Winter Conference in Las Vegas next year and hope to see you there!