Brokers play an important role in the human resources ecosystem, connecting insurers, employees, and HR departments in the service of good employee relations. HR teams rely on broker relationships to navigate healthcare plans, manage employee benefits administration, and ensure compliance with relevant employment laws.
But as HR teams seek out modern HR technology solutions, it’s important for brokers to keep up by using state-of-the art HR systems and employee benefits technology.
Here’s what brokers need to know about the latest HR technology platforms and how HR tech solutions for brokers can improve client outcomes.
The Shift From Broker to HR Tech Solutions Consultant
Traditionally, HR brokers, or employee benefits brokers, have helped organizations select and manage their employee benefits plans. This may include health insurance, wellness plans, and other employee perks. Since employers may have relationships with multiple providers, HR benefits brokers help to streamline communications and negotiate the best rates.
In general, HR brokers serve as an intermediary and earn a commission, while HR consultants play a role in shaping HR operations. Meanwhile, PEO brokers focus on connecting their clients with professional employer organizations who offer human resource management services.
As clients increasingly seek guidance when it comes to HR tech, being an intermediary is no longer enough. It can be beneficial for all types of brokers to offer HR consulting services that take the client’s entire tech stack into account.
Why HR Brokers Should Care About HR Tech
The broker relationship isn’t a one-time interaction but an ongoing partnership that depends on prompt communication and seamless tech integrations. Brokers need to offer the best solution for a client’s unique needs and be able to anticipate trends in modern HR technology. They may be involved in:
- Creating a benefits package: Brokers help create a strong benefits package to attract top talent and improve employee engagement and retention.
- Negotiating with providers: Brokers may negotiate with vendors and provide recommendations based on an organization's size and budget.
- Facilitating benefits enrollment: Brokers help facilitate the enrollment process, including the open enrollment period for employee healthcare plans.
- Providing ongoing support: Brokers help to manage workers’ comp claims and keep employers up-to-date on the latest legal and regulatory requirements.
All of these activities require technical know-how and real-time data analysis that legacy systems aren’t able to accommodate. Brokers need direct access and detailed insights into what’s really going on in order to better serve their clients’ needs.
What to Look for in HR Tech Solutions
HR tech solutions are those that facilitate the delivery of employee benefits and other HR services. As clients turn to brokers for comprehensive tech solutions, the technology that you choose has a big impact on their bottom line. Here are some of the ways HR tech solutions can support client relationships.
Carrier Integrations
API integrations use an application programming interface to connect multiple pieces of software together — for example, a client’s Human Resource Information System (HRIS) with an insurance carrier’s platform. This allows clients to share information securely between systems and spend less time switching between multiple platforms.
Cloud-based HR platforms like Pulpstream connect right into your clients’ existing tech stack, connecting them to carriers’ software in real time. Our integrations with legacy HRIS systems help carry your clients forward without leaving any data behind.
HR Process Automation
Process automation allows HR teams to digitize and automate manual HR processes so team members can spend less time on tasks and more time on strategy. Clients can use HR process automation to optimize workflows related to benefits enrollment, employee onboarding, performance management, and more.
One area where it really shines is stakeholder communication. Pulpstream simplifies communications with automatic email and SMS notifications, digital checklists, and a document management system that keeps everyone on the same page.
Employee Self-Service
HR teams aren’t the only ones who can get overwhelmed logging into multiple vendor portals. Employees want fewer apps and digital tools to log in to, and they want to be able to access important information on the go — especially remote employees.
Pulpstream’s self-service portal allows employees to manage their employee benefits, view their leave of absence balance, and upload documentation all in one place. This saves them time and effort, and mitigates common employee relations issues.
Compliance Support
HR compliance is an ongoing challenge, especially as employment laws change over time and workplace trends shift toward remote and hybrid workforces.
Some of the laws that employers need to ensure compliance with include:
- The Affordable Care Act (ACA)
- The Family and Medical Leave Act (FMLA)
- Continuation of Healthy Coverage (COBRA)
- State and local leave laws
Pulpstream’s HR compliance features include an FMLA eligibility rule engine and claims management tools. Brokers and clients alike can benefit from HR compliance software that standardizes processes, tracks deadlines, and maintains a digital paper trail.
3 Reasons to Go All in on HR Tech
Benefits brokers who focus solely on being an intermediary risk leaving business and partnership opportunities on the table. As HR departments struggle to understand the ROI of HR tech, brokers have a role to play in shaping their digital transformation. By advocating for the right HR technology solutions, brokers can improve outcomes for employers and employees alike. Here are three reasons to consider it.
1. You’re Already an Expert
As a broker, you may consider yourself an expert in employee benefits — not HR tech. But the reality is that your entire business relies on efficient systems that facilitate the connection between clients and vendors. You know how complex employee benefits administration can be and how the right technology solutions can streamline it.
As HR technology evolves, you’re well-positioned to integrate the latest tools into your existing tech stack and share them with clients. Leaning into these strengths positions you as a valuable resource and helps you make the most of your expertise.
2. Your Clients Are Ready for Change
Sometimes the push for digital transformation comes from your clients: They’re ready to take the initiative and invest in the latest HR tech. But more often than not, your clients are just trying to do their job and are overwhelmed by their options. They're looking to you for advice on calculating the ROI of an HR tech investment.
As a broker, you can get ahead of the curve and make the business case for HR tech. No-code platforms like Pulpstream reduce the barriers between you and your clients and help you build long-lasting partnerships with flexible, customizable solutions.
3. You Need to Stay Competitive
Many benefits brokers are already leveraging technology to help them stand out. From personalized benefits packages that cater to each employee to self-service portals that improve the employee experience, the best brokers have something more to offer than cost-effective pricing or long-standing vendor relationships.
Brokers can add value by centering HR tech consulting in their advisory services and bringing the latest technology along with them. By strategically integrating an all-in-one platform like Pulpstream, you can increase your appeal to new clients, expand what you offer to existing clients, and differentiate yourself from your competitors.
Improve Client Relationships With HR Tech
Brokers have the difficult task of modernizing their business practices while working with clients who may be stuck relying on legacy systems or in the middle of their own digital transformation. HR tech solutions for brokers allow them to offer cost-effective benefits packages to clients while also providing cutting-edge solutions to manage them.
HR brokers can build on existing relationships to offer strategic planning and consulting services that improve the employee experience — and their clients’ bottom line.
Pulpstream’s no-code platform is the ideal HR tech solution for brokers to work with and advise their clients. Not only does Pulpstream integrate with well-known platforms like Workday and ADP, it streamlines communications with insurance carriers and other third parties.
Clients can use automation to optimize their workflows without learning how to code, improving compliance and facilitating workforce management.
Request a demo today to see how Pulpstream partners with brokers to offer flexible solutions and white-glove service.
