Strategic and Effective Global Broker Partnership: Intro

This guide compiles the key learnings that employers shared from benchmarking and external vendor input. Employers need to be thoughtful about the business case, request for proposal, scope of work, vendor selection and ongoing relationship management for a successful partnership.

November 29, 2022

This guide breaks down the process, from business case development to account management, and provides employer tools and lessons learned from utilizing this strategic relationship with global brokers.

A global broker partnership can be remarkably effective in helping to transform company benefit programs across the world. Engaging all company stakeholders, aligning the broker reporting structure to the company and working out potential challenges early in the process will make the relationship stronger. Building measurable service-level agreements (SLAs), developing an issue escalation process and reviewing the broker on a regular basis can keep all parties accountable and provide awareness of issues. Global brokers with strong consulting and technology arms can support employers and deliver on emerging areas of the employee value proposition, including well-being, diversity, equity and inclusion (DEI) and digital benefits delivery. With these key components, companies can work with their global brokers to make successful strategic initiatives a reality.

More Topics

Articles & Guides icon_right_chevron_dark Family and Caregiving icon_right_chevron_dark Plan Design & Administration icon_right_chevron_dark
More in Global