It's Time To Raise the Bar

Okay, I just got back from lunch with a potential client. One that I have been "talking" to for almost 2 years. His current consultant on the company's plan has been an advisor to the family owners for 20+ years. He set up thier estate planning. Not an employee benefits specialist mind you but a relationship that has been part of the company fabric for 20 years - I really do understand.

About a year ago, the CFO of the company asked me to do a study for him about comparing plans and services that are competitive today. I did that. In the end, he couldn't change the relationship even though I brought new and creative ideas to the table to help him grow his business and reduce his bottom line.

Fast forward to today...CFO is now CEO (congrats!) still with same consultant who does NOTHING for this firm. Shows up once a year and tells him what his rates will be for the next 12 months. I proceed to illustrate to him how my business has changed. It's not about insurance - it's about everything else. In today's market, a consultant worth thier fee does everything from soup to nut; compliance auditing, marketing, renewal planning, communications, HR strategy, workforce planning, business planning, technology integration for administrative simplicity - shall I go on? As companies are squeezed more and more, they rely on business partners for resources. My CEO agreed that he was not getting much anything of value from his current consultant - the consultant of old school. However, since the family was still somewhat involved in the business, he was not sure if he could change the relationship.

So, for all HR Managers and CFO's, etc., here's my question. Are you willing to risk a moment of potential uncomfortableness for an immeasurable positive impact to your company's bottom line? You deserve to work with a consultant of today - a student of the business and a partner with yours. A person that can deliver value added resources and be there when you need them - not just once a year. Does that cost you any more? In most cases - NO. The bar has been raised. You need to know what you are missing and demand it from your current consultant. If they can't comply, then a moment of uncomfortableness is just a moment. Not changing cosultants and missing out can feel like a "lifetime".