I am frequently asked what I think of certain HR and Benefits technology solutions. And while I would certainly have my preferences if I were buying a solution for myself or my own company I do believe one size does not fit all and different people or companies have different needs. Therefore my response is always the same and that is the market determines if a company sells something of value. If a company is in business and making money than they are providing some value to the market so therefore someone must like their product or service.
When it comes to Benefits and HR technology products I like to think about it like anything else. When buying a car there is certainly a difference between a Ford Taurus and a Mercedes. When someone says a Mercedes is a better car there is no argument. If the discussion were about which car brings a better value that is a different discussion. We also could agree that the best product does not always sell the most. McDonalds sells more hamburgers than any other restaurant yet I am sure more would agree that they don’t have the best hamburger. But how can one compare a $1.00 hamburger to a $7.99 hamburger? I am sure you get my point.
I have many technology companies tell me they have the best product in the market. If you are one of those company representatives don’t take offense when I respond that everyone does not buy the best, need the best, can afford the best, or that best is relative and subjective. In fact the best may often be the highest price and therefore may only expect to get the top 5% or 10% of the market.
As a HR and Benefits Technology consultant for benefit brokers and their customers it is my job to match products with client needs. It is my job to understand who is looking for the Mercedes versus the Ford Taurus. Which one is priced like a McDonald’s hamburger versus a Five Guys burger? So for the record, I believe there are many solutions in the market that will fit various client needs. The competition is also forcing vendors to continually improve their products and with a large market of employers there are solutions to fit all shapes and sizes.