4 steps to become a strategic leader in benefits in 2023

Changes in business operations have accelerated since the pandemic, and employers may not see relief in 2023. Caused by rising inflation, fear of a recession, geopolitical tensions and more, this year-to-year rate of change can feel staggering. Now — and for the foreseeable future — employers need the most innovative, supportive brokers, advisers and consultants to help them navigate healthcare complexity, as well as prepare for rising costs and continued changes.

As producers, we need to stay up to date with benefit trends, learning new processes and using strategic solutions to help clients reduce costs and remain profitable. Whether that means transitioning to a level-funded or fully self-insured health plan, developing pharmacy drug sourcing strategies, or looking into direct contracting, it's important to take calculated risks and be experts in our field of work. Only then can we truly manage risk for our clients' business. 

Supporting clients requires a level of expertise that can be achieved by continued education, surrounding yourself with wise counsel and getting outside of your comfort zone. With the right approach, you can begin to make meaningful changes to your client's programs. Here are some ways to accomplish this.

Education
Master one new concept a year. As healthcare changes, the strategies you use in benefits will, too. By learning new strategies and techniques you can increase your ability to deliver a program specific to your client's needs and produce a positive outcome. Because new concepts can take time and dedication to implement successfully, be sure to give yourself time to fully understand them and reach out to partners or colleagues when help is needed.

Read more: Bringing value to healthcare benefits with simplicity

Surround yourself with wise counsel
Develop meaningful, new relationships with vendors and other consultants. By meeting new professionals in our industry, you can gain different perspectives and fresh outlooks you may not have considered before. 

Additionally, when speaking to others in your field you can discuss common challenges, further your education and make a positive difference in the quality of your career.  As it says in Proverbs 27:17, "As iron sharpens iron, so one person sharpens another."

Get outside of your comfort zone
When you venture outside of your comfort zone you see things differently, which enables you to learn something new. Pushing yourself to learn new technologies or adopt unfamiliar processes can open doors to innovative ideas and concepts, allowing you to help more employers deliver benefits and improve employees' lives. True learning comes with trying new things and getting outside of your comfort zone.

Meaningful solutions
New and exciting solutions are only effective when they are fully understood and executed upon. Therefore, using technical terminology is not always helpful and can prove confusing for employers. Once you have discovered a unique solution, you will need to help your clients understand it as well. Explain solutions in simple terms so that your clients know how you can help them execute the strategy for tactical success. 

There is always more to learn and achieve when working in an industry that is constantly changing. Using the same solutions year after year can eventually become outdated. Get out of the office, meet new people, go to events and challenge yourself to find the best solution for each employer you work with. Take time to reflect and think about your professional achievements over the past year: Did you learn new things? Did you solve meaningful problems? Are your clients satisfied with their results? By asking yourself these questions you can gain a better understanding of how much value you are providing your clients.

Read more: Single-payer health insurance could be right around the corner

Now is the time to be a strategic leader because your clients are expecting more meaningful results in the face of seemingly never-ending rising healthcare costs.

Inflation is an unfortunate truth that has caused rapid economic changes, pushing many businesses to the brink. From increasing salary demands to a tight labor market, employers are going to need brokers and consultants that will go the extra mile to design and implement an employee benefits program that meets the needs of their workforce while maintaining or improving the bottom line. By becoming an expert in your field, you'll be able to provide your clients with superior results that can help alleviate their concerns.

The coming year will require advisers to be prepared, adapt quickly to changes and remain open to new strategies and ideas while remaining positive and optimistic in the face of current challenges. This could mean having to learn new strategies, surrounding yourself with wise counsel and getting outside of your comfort zone to produce meaningful solutions for each unique workforce. 

The more uncertain the future becomes, the more employers will need your support. Solving a meaningful problem can take you outside of your comfort zone, but when you take calculated risks and seize opportunities, you can achieve greatness.