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How Brokers Can Help Clients Tackle Healthcare Costs and Retain Talent

• by EvolvHR Team

Rising healthcare costs and employee retention are among the top challenges businesses face today. Brokers play a critical role in addressing these issues, offering innovative solutions that enhance employee benefits while controlling costs. evolvHR’s FY24 Broker Product Guide provides actionable strategies for brokers to support their clients.

Key Challenges Businesses Face

  1. Rising Healthcare Costs
    Healthcare costs are projected to increase by 7% in 2024, creating significant pressure on budgets.
    Actionable Insight: Introduce cost-saving benefits like tax credits and flexible pay options.

  2. Recruiting and Retaining Employees
    With 66% of employees evaluating their benefits packages before deciding to stay, businesses need compelling offerings to attract and retain talent.
    Actionable Insight: Promote solutions like earned wage access to improve financial flexibility and retention.

  3. Employee Development
    91% of employees value career development opportunities when choosing a job.
    Actionable Insight: Leverage tools like learning and career management systems to boost engagement.

Solutions for Brokers to Offer

  • Tax Credits: Help clients claim up to $9,600 per qualifying hire.
  • OnDemand Pay: Provide employees with flexible pay options to reduce turnover.
  • Analytics: Use predictive dashboards to help clients reduce overtime and turnover costs.

Take Action Today

Brokers have a unique opportunity to deliver value by aligning client strategies with emerging trends. evolvHR’s guide empowers brokers to address client challenges effectively, enhancing their ability to attract and retain talent.

Be the hero for your clients. Download evolvHR’s FY24 Broker Product Guide today.

Ready to Transform Your Employee Benefits Operations?

Encourage brokers to leverage this guide to introduce innovative solutions like earned wage access and learning management tools to their clients.

Contact EvolvHR today to learn how we can help you implement these strategies and build a stronger, more resilient organization.