So long – and thank you!

On Neil Young’s 1996 live concert recording, “Year of The Horse,” a heckler yelled: “They all sound the same!” Neil’s response was classic: “It’s all one song!”

Thankfully, there are no hecklers for the authors of monthly columns about employee benefits, but if there were, someone might yell to me: “You write the same thing every month!” To which I might reply: “It’s all one column!”

I’ve decided this will be my final regular column for BenefitsPRO. It’s been over 20 years since I signed an initial contract with what was then “Benefits Selling” magazine, committing to write at least six columns. That was in the fall of 2003, and since then, they have published well over 200 of my articles. Why did I agree to write them? I had a purpose.

My purpose, my “why” was to change the world of employee benefits. By 2003, the pace of evolution in the benefits marketplace had reached a tipping point. My specialty, voluntary benefit plans, was becoming a mainstream part of benefits planning; employers and their advisors were moving away from segregating employee benefits into “employer paid” and “voluntary.” In addition, benefit administration and enrollment technology were beginning to take hold, opening doors to much improved process management. Employee diversity was increasing, and benefits were no longer built around the concept of creating a “one-size-fits-all” package. And the products were becoming more flexible, as well. All these drivers of change generated the purpose of this column: To provide insights and educate readers about the changing faces of employee benefits — especially voluntary.

In the beginning, this column was called “Competitive Edge.” More recently, it has been known as “What Works.” Along the way, I have tried to focus on both voluntary benefits, and on broader matters concerning benefit planning, administration, enrollment communication, and strategy. Here are a handful of  bullet points, summing up some of the most important messages from the past 20 years:

• People, processes, and products: In creating and managing a portfolio of benefits for employees, always keep these three inseparable items in mind. A great product is useless without a great supporting process and great people to manage that process. There’s always a temptation to add a fourth “p” — price. My advice is to find the right combination and then look at the price. It’s all too easy to focus on cost at the expense of finding an integrated package where the other three areas are coordinated. When these elements are not aligned, there is a hidden cost, because a lack of coordination leads to inefficiency, which leads to unhappy customers. 
• Relevant, affordable, and easy: Whether you’re looking at employee benefits from the viewpoint of the employer, the employee, or as an advisor, always keep these three principles in mind. A great benefits portfolio will be relevant, providing value to all. Employees will understand them and the value they provide; the program will be affordable for all; and finally, the benefits will be easy to communicate, enroll in, and administer. Process roadblocks, including intrusive underwriting, will be eliminated.
• Never stop “pushing the envelope”: Continually strive to improve by asking customers for feedback. As Bob Dylan wrote, “He  not busy being born is busy dying.”
• Be resilient: Face rejection head on. Take it personally, but don’t let it derail you. When you lose a big opportunity, the best antidote is to get back to business; to make another call. After all, the rest of the world doesn’t know or care about your business that didn’t work out; they just want to know how you can help them.
• Communications: There are so many ways in which success in business depends on effective communication. In the benefits business, communication is obviously a key to educating and enrolling employees about the benefits that will best meet their needs. But, don’t overlook the need for ongoing communications between advisors and employers. Far too often, these discussions only take place when a product is to be shopped, or a new product is to be added. The most successful benefit programs feature year-round communications between advisors and customers, including employers, employees, and process support providers like benefit communications professionals and benefit management technology companies.
• Always keep learning: This column has always focused on the changing environment of employee benefits. A lot has happened over the past 20 years, and we can expect the pace of change to continue accelerating. Improving products and services in our marketplace requires a continuous process of analyzing change, anticipating change when possible, and creating a package of products and services to take advantage of the opportunities presented by that change.

Most of my past columns are available online today at BenefitsPRO.com, so be sure to check them out soon if you wish to refer to them.

This may be my final column, but I am still around. I do consulting work through my company, Current Benefits LLC, so feel free to email me at the address below. And be sure to come say hi at the upcoming BenefitsPRO Broker Expo in Denver, where I’ll be participating in a panel discussion titled “Voluntary Benefits Uncovered: Key Industry Trends and Broker Insights.”

In looking back, there are many people to thank for this column, which has provided me with a great deal of personal fulfillment. First, thank you to all of the people who have taken time to read this column. It is my hope that it has provided inspiration and a few good ideas. Second, thank you to Paul Wilson and previous editors at BenefitsPRO, and of course Tamara Gentry. They have supported this column and continue to deliver a terrific source of news and information to the employee benefits business. I also received support from my employers, Mutual of Omaha, and Trustmark, who provided me with the freedom to write these columns covering topics beyond the scope of their own products and services for the good of the industry. They also provided me with corporate communication support that was extremely valuable. Thanks to all the people I worked with: employers, benefit communication and enrollment specialists, benefits brokers and advisors, technology partners, and of course, members of my own team. You provided inspiration, leadership, and encouragement to me along the way. I’m sorry I can’t name everyone, but you know who you are. 

Finally, my eternal thanks to my first reader for all the columns, my wife, Fran Traynor.

Marty Traynor is an Omaha based consultant in the benefits field.  He may be reached at currentbenefits@gmail.com