In this episode, Zane Stevens interviews Victor McKnight, Vice President of Business Development at Risk Strategies Company.

They discuss the role of employee benefits brokers and consultants in designing benefit packages that meet the needs of organizations and employees. Victor shares his career journey from accounting to the insurance industry and emphasizes the importance of understanding accounting basics in business. They also discuss the challenges of managing the rising cost of health insurance and the value of long-term disability insurance. Victor highlights the importance of community involvement and giving back, as well as the need for business planning and mentoring in the industry. In this conversation, Vic McKnight discusses the positive and negative aspects of technology and shares his favorite childhood meal.

Takeaways

- Employee benefits brokers and consultants design benefit packages that meet the financial goals of organizations while attracting and retaining quality employees.

- Understanding accounting basics is important in business and can help professionals communicate with CFOs and HR personnel more effectively.

- Employee benefits, such as health insurance, dental insurance, life insurance, and disability insurance, are essential components of compensation packages.

- Educating employees about their benefit packages is crucial.

- Brokers play a vital role in providing support and guidance to employees, helping them navigate complex benefit plans and resolve issues with insurance carriers.

- Managing the rising cost of health insurance is a significant challenge

- Long-term disability insurance is an important benefit that provides income protection for employees in the event of a disability.

- Community involvement and giving back are essential for building strong relationships and making a positive impact.

- Business planning and mentoring are crucial for personal and professional growth in the employee benefits industry.

- Technology has both positive and negative impacts on our lives.

- It is important to find a balance between using technology for productivity and maintaining personal connections.

Chapters

00:00 Introduction and Background

01:49 Employee Benefits and Consulting

03:09 Understanding Employee Benefits

04:11 Career Journey: From Accounting to Insurance

06:19 Importance of Accounting in Business

07:18 Choosing a Business Degree and Career Path

08:07 The Value of Understanding Accounting Basics

09:08 Financial Literacy and Personal Finance

10:19 The Complexity of Employee Benefits

11:23 Educating Employees on Benefit Packages

12:09 Customizing Benefit Brochures

13:08 Providing Employee Education and Support

14:30 The Role of Brokers in Employee Benefits

15:53 Addressing Employee Questions and Concerns

17:51 Client-Centric Approach in Employee Benefits

19:52 Managing the Rising Cost of Health Insurance

21:25 The Importance of Long-Term Disability Insurance

23:34 The Most Interesting Employee Benefit

25:19 Community Involvement and Giving Back

28:16 Challenges and Growth in the Industry

31:36 The Importance of Business Planning

35:35 The Impact of Virtual Work on Mentoring

37:18 Near-Term and Mid-to-Long-Term Goals

40:36 Personal Insights and Community Involvement

43:08 Rapid Fire Questions

45:06 The Positive and Negative Aspects of Technology

45:22 Favorite Childhood Meal

Connect with Victor https://www.linkedin.com/in/victor-mcknight-3400554/