According to a study, the primary reasons companies switch brokers are poor service (49%), high costs (41%), and lack of additional services such as comprehensive human capital management (HCM) offerings (30%)
Insurance Brokerages
We collaborate with benefits brokers to provide value-added services that strengthen client relationships and improve retention.
Our strategic partnerships with brokers are designed to help attract and retain clients by offering a wide range of value-added services across Human Capital Management that complement and enhance traditional insurance service offerings.
Offering more comprehensive services, like HCM, can significantly enhance client satisfaction and retention. A survey by McKinsey revealed that companies providing integrated services, including HCM, tend to experience higher client retention rates and improved operational performance. This is because such comprehensive services address broader organizational needs, reducing administrative burdens and enhancing overall efficiency
Sources: Bain, McKinsey & Company, Attorney Aaron Hall
What We Do
Open Enrollment
- Streamlined Process: We simplify the open enrollment process, ensuring smooth and efficient management. This reduces administrative burdens for clients and enhances their overall experience.
- Expert Assistance: We provide expert guidance and support throughout the open enrollment period, helping clients navigate complex benefits options and make informed decisions.
System Optimization
- Maximized Efficiency: EnhanceHCM can optimize existing benefits systems that may not be fully utilized. By identifying and addressing inefficiencies, we help clients get the most out of their current systems.
- Improved Functionality: Our expertise ensures that clients’ systems are running at peak performance, enhancing their overall operational efficiency.
Interim Benefits
- Temporary Solutions: EnhanceHCM offers interim benefits management to bridge gaps during transitions. This ensures continuity and minimizes disruptions for clients during periods of change.
- Flexible Support: We provide flexible, tailored interim solutions that meet the unique needs of each client, ensuring their benefits programs remain effective and compliant.
Compliance Management
- Regulatory Compliance: Ensure clients adhere to all relevant employment laws and regulations, minimizing the risk of legal issues and penalties.
- Policy Development: Assist in the creation and implementation of HR policies that meet legal requirements and industry best practices.
M&A Support
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M&A Workforce Due Diligence & Integration: We conduct pre- and post-close workforce assessments to identify HR, payroll, and benefits risks, and then align systems, policies, and processes, enabling insurance brokers to advise clients on coverage, compliance, and seamless benefits transitions during transactions.
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Workforce Optimization & Standalone HR Setup: We support ongoing workforce optimization and establish independent HR and payroll operations for divestitures, empowering insurance brokers to design tailored benefits programs and risk strategies that enhance retention and control long-term liabilities.
HR Technology Implementation & Support
- HRIS Implementation: Assist in the selection and implementation of Human Resource Information Systems (HRIS) that streamline HR processes.
- Ongoing Support: Provide continuous support and maintenance for HR technology systems to ensure they operate efficiently.
Payroll Management
- Accurate Payroll Processing: Ensure timely and accurate payroll processing, including tax withholdings and deductions.
- Payroll Compliance: Maintain compliance with federal, state, and local payroll regulations.
Workforce Planning & Analytics
- Strategic Workforce Planning: Help clients develop long-term workforce plans that align with business goals.
- Data Analytics: Utilize HR analytics to provide insights into workforce trends and performance, helping clients make informed decisions.
Cultural Transformation & Change Management
- Change Management: Support clients in managing organizational changes, ensuring smooth transitions and minimal disruption.
- Cultural Assessment: Evaluate and enhance company culture to improve employee satisfaction and performance.
White Label Services
Seamless Integration • Brand Enhancement • Client Retention
Integrate our solutions into existing service portfolio without the need for additional resources or infrastructure.
By white labeling our services, insurance companies enable brokers to offer expert HCM services under own brand, reinforcing market position as a comprehensive service provider capable of delivering high-quality, HCM solutions that enhance client loyalty and retention.
Expertise
With years of experience in human capital management, enhanceHCM offers unmatched expertise in HR and payroll processes.
Customized Solutions
We provide tailored HCM solutions that cater to the unique needs of each client.
Seamless Integration
Our services seamlessly integrate with the existing support structures provided by insurance brokers, enhancing overall client satisfaction.
Proven Track Record
We have a proven track record of helping businesses improve efficiency, reduce risks, and achieve sustainable growth.
Delivering Quantifiable Results: With extensive experience across a wide range of client engagements, we’ve helped businesses stabilize operations, optimize workforce strategies, and drive measurable impact. From payroll transitions and HR integrations to compliance overhauls and M&A support, enhancHCM delivers results.
