A robust employee benefits package is essential for helping employers recruit and retain a high-quality team. However, researching and implementing these plans can often be time-consuming and challenging.
To meet their employee’s needs, many organizations rely on the guidance of employee benefits consulting companies to navigate the specifics and decide on the most financially sustainable and competitive package. In this article, we’ll discuss what employee benefits consulting companies do.
What is an employee benefits consulting company?
Employee benefits consulting companies work to help organizations research, procure, dispense, and manage benefits packages for their employees. Consultants are highly knowledgeable on the various types of benefits, including health insurance, life insurance, and retirement plans. They can help employers implement compliant packages and documentation and adjust materials or programs as laws change.
Organizations can also employ benefits consulting companies to ensure their benefits packages meet their employee’s needs and the company’s vision and values.
What does an employee benefits consulting company do?
Employee benefits consulting companies perform several functions for an organization. These can include:
- Speaking with current employees about their roles and writing job descriptions
- Create websites for employees to explore their benefit options
- Advise organizations on the laws and regulations surrounding health, life, and retirement benefits
- Identify tax regulations for companies
- Conduct employee surveys to find out what benefits are important to them
- Answer employee questions regarding benefits packages
- Create benefits enrollment procedures for new employees
- Implement benefits packages throughout the company
- Provide options to company owners on benefit costs and offerings
How to become an employee benefits consultant
The steps you need to take to become an employee benefits consultant are as follows:
- Earn your bachelor’s degree. Becoming an employee benefits consultant is easier if you have a bachelor’s degree. You can major in areas such as Human Resources, business administration, finance, and communication. If you are earning a degree in another field, consider taking a few Human Resources or business administration courses to see if it’s the right fit for you.
- Gain experience in the field. Before working for an employee consulting company, most consultants gain experience working in human resource departments. Duties such as benefits administration and payroll can help with a career in consulting. In addition, this also gives consultants the ability to work with health and life insurance.
- Become a certified consultant. Numerous organizations offer certifications for employment benefits specialists. You can choose to get a Chartered Federal Employee Benefits Consultant certification or Certified Employee Benefits Specialist certificate.
- Find open positions. You can find open positions by searching on job sites and networking with professionals in the field.
Essential skills for an employee benefits consultant
Employee benefits consultants will need a broad skill set to handle the job, which includes:
- Research skills
- Analytical skills
- Computing skills
- Presentation skills
- Communication skills
Does your business struggle with turnover issues?
If the answer is yes, reach out to our team of experts here at villaNOVA Insurance Partners and schedule our employee benefits consulting services. As one of the premier full-service brokerage and consulting firms in King of Prussia, our team has years of experience dealing with corporate benefits programs. We’ll work with you to better understand your daily operations and the company’s goals to formulate a solution tailored to your unique needs.
Once the perfect benefits package has been chosen, we will help roll it out and educate your team on the changes and why they were made. You can learn more about the services we offer or contact us online to schedule your initial consultation.