From what we can tell, you are in the minority. Most companies do not know the exact dollar amount that they pay their consultant and more than likely ONLY measure success based on the outcome of the renewal. Good on you for demanding real value against the commissions invested. If you would like to see another option on how to measure success, check out one of our upcoming webinars on How to Measure Success in a Benefits Plan.
What can we say… you’re not alone. So many of the companies we meet are not aware of what they are paying in commissions and have no parameters for how to measure the ROC (Return on Commission). Go ahead and ask your broker what they are paid and if it helps, check out our upcoming webinar – How to Measure Success in a Benefits Plan. This will give you some parameters to evaluate going forward. Be demanding and expect real results from your plan.
Good to see that you are aware of what you are investing into the consultant relationship. Now, just take that number and measure that against what you would determine is a successful benefits plan. If it’s easier, check out our upcoming webinar – How to Measure Success in a Benefits Plan. This will give you some parameters to evaluate going forward. Be demanding and expect real results from your plan.
Pretty simple recommendation here. We suggest you find out the commission amount and see if you are comfortable with that against your proven success factors. If you are good with the ROI, then you are now well on your way to seeing real results from your benefits investments.