PrestigePEO also works directly with businesses once their brokers initiate the partnership. Co-employment is what PEOs are all about, which means that PEOs take on some of the employment liability for businesses. They become a direct extension of the business’s team.

This unique relationship leads to more time and energy for business leaders to focus on bigger concerns within the business, such as long-term growth.

“PrestigePEO is our co-pilot, which means we can focus on growing our company and our brand,” Armelle Crump, director of operations for Okayplayer.com in Brooklyn, said. “ We like the customization they offer for payroll and employee benefits to suit our culture and employee preferences.”

Employee benefits are the biggest advantage of PrestigePEO when it comes to business support. Our collective purchasing power means even smaller businesses can get access to premium benefits that are typically reserved for large companies with bigger budgets and more resources.

Other services PEOs offer for businesses:

• Human Resources management
• Human Resources consulting
• Payroll processing and management
• Workplace compliance and risk mitigation
• Retirement planning
• Workers’ compensation

PrestigePEO helps your business clients strengthen their workforce with better employee benefits, perks, discounts and overall human resources support. That helps you continue to grow.

As your book of business increases and as your clients’ businesses grow, so do the complexities of daily HR administrative tasks and compliance requirements. The more employees a business has, the greater their legal liability.

Working with a PEO provides workplace compliance services that give peace of mind for you and your clients. These include:

• Certificate of insurance requests
• Labor law updates and news, including local, state and federal legislation
• Poster compliance in the workplace
• Continuous risk management support and resources, including:
  • Employee handbooks
  • Harassment prevention
  • Payroll and hours reporting assistance
  • Policies for documentation and time and attendance
• Compliance with the Affordable Care Act (ACA), equal opportunity laws, leave laws and disability laws

Small and medium-sized businesses that try to deal with all these concerns on their own are more likely to be hit with fines and penalties for failing to comply. PEOs ensure your clients are compliant and their risks are as low as possible.

Annual open enrollment is made easier when businesses have a partner. Here are just a few benefits your clients receive from working with PrestigePEO:

• Comprehensive employee benefits packages: We help your clients access a range of competitive employee benefits options, including health insurance, retirement plans, wellness programs and more.

• Cost-efficiency: Because PEOs have group buying power, clients get access to premium benefits at competitive rates that are usually reserved for large companies. NAPEO found that the average ROI is 27.2% in annual cost savings when a business uses a PEO.

Businesses need expert support and access to better benefits options, and that’s exactly what working with a PEO provides.

• Better processes: PrestigePEO simplifies open enrollment by enhancing processes with tech tools and dedicated support. Technological platforms provide additional streamlining and convenience to help all parties better manage open enrollment.
• Employee communication: Employees need to know exactly what their options are and the advantages of each benefit option. PrestigePEO helps businesses access the information they need to keep employees educated and well-informed every step of the way.

Health insurance remains the top employee benefit for your clients’ employees. Here are a few strategies that can help you cross-sell health insurance:

Health insurance remains the top employee benefit for your clients’ employees. Here are a few strategies that can help you cross-sell health insurance:

While cross-selling is offering related services, upselling is about upgrading them. Here are a few strategies to do this effectively with medical insurance:

Identify which products and services will help your client solve a specific challenge they’re dealing with. For example, maybe their business has grown significantly in the last year, and they need a more premium employee benefits offering to keep up with employee growth.

Similar to cross-selling, you can position your solutions as bundles, not just individual products. Relay exactly how upgraded bundles meet your clients’ core needs. This way, you can show them the value of upgrading their current services and investing in more premium, comprehensive coverages.

Business clients love incentives. Part of your personalized approach can be negotiating a lower rate for packaged benefits that give clients a better deal. Lower rates can come from more complex negotiations around the prices of individual products and services.

Just make sure your pricing structure allows for flexibility while meeting vendor margins. Your commissions shouldn’t suffer to offer these discounts.

PEOs can be a pivotal partner in helping your clients level up their employee benefits. However, they bring a lot more to the table, including HR support, regulatory compliance and risk management, payroll administration, workers’ compensation and retirement planning solutions.

What’s more, PEOs will work with you to identify cross-sell and upsell opportunities. Lean on your PEO to create customized packages while you keep focusing on the front end of the customer relationship.

Many brokers may hesitate to explore a PEO partnership for fear the PEO will take their clients. But that’s just not how it works – at least not at PrestigePEO. We’re committed to helping brokers establish stronger client relationships by meeting every HR need and providing holistic solutions.

And that includes cross-selling and upselling opportunities with employee benefits packages and other services.

Aside from the above necessary strategies, you can also leverage the unique resources PEOs bring to broker partnerships. These solutions can help you up your personalization game.

Here are the key advantages to know:

• Comprehensive employee benefits and HR solutions: PEOs can help your clients access premium employee benefits at competitive rates, plus access any HR solutions they need for their specific goals and situations. PEOs offer tailored employee benefits plans, industry-specific compliance support and personalized advice.
• Dedicated account teams: The top PEOs give brokers and their clients dedicated account teams to deliver customized support. This approach ensures consistent, personalized service for you and your business clients.
• Advanced client engagement technology: The best PEOs also offer clients access to an intuitive hub for their HR and employee benefits packages. With the help of these technologies, you can manage your client relationships more effectively.
• Ongoing training and support: PEOs can support brokers in staying updated and informed on the latest in the employee benefits industry. This includes coaching, webinars and industry insights so you can better support your clients.

Partnering with a PEO – like PrestigePEO — gives you a competitive edge, as these advantages lead to stronger client relationships built on trust. In the process, you also gain access to resources and support you need as a broker.

This includes keeping renewal rates from increasing too sharply. A PEO helps by working directly with insurance providers to secure longer-term rate agreements. This reduces the amount – and frequency – of rate hikes, keeping costs in check for your clients and their staff.

You can help businesses navigate budget changes, prioritize the most important employee benefits and understand the most cost-effective options. In addition, a PEO can help you accomplish each of these steps for your clients through purchasing power, allowing smaller businesses to access better benefits at affordable prices.

Each year, employers may not know if they’re finding the right options or making the right choices for their employees. This is why they need to offer tailored benefits packages that meet the needs of a diverse pool of employees.

Employers must also carefully comply with regulations, both during open enrollment and throughout the rest of the year. Labor laws and employment regulations are always changing, so working with a PEO helps you help your clients with the latest updates and best practices to implement in periods of change. This assists clients in reducing risks and administrative burden.

A major consideration for employers is whether their employees will use the benefits. Increased utilization requires understanding exactly what their employee benefits are and why they’re important. 

Brokers can help businesses gain access to all relevant information by prioritizing education during open enrollment. The more knowledge employees have, the more engaged they’ll be with their benefits and organization.

Employers should do everything they can to stay competitive, especially in a job market like ours, where top talent increases its expectations and requirements each year. Providing legal insurance helps you show a new level of employee support, offering a benefit that other companies aren’t offering.

Brokers play a unique role in the world of employee benefits for businesses. When it’s time to prepare for or launch open enrollment, what can you do to make it a smoother process for your clients? Here are 5 Open Enrollment Communication Strategies for Benefits Brokers.

Instead of waiting to provide assistance until a client asks a question, think proactively. Answer business’ questions – and their employees’ questions – before they have to ask them. This takes understanding your specific audience and their pain points. 

Show them you understand their concerns about open enrollment. Implement a plan for communicating across your channels, from email to newsletters to printouts to informational sessions. 

Remember that the average business leader and employee don’t necessarily understand the complicated ins and outs of the employee benefits world. Focus on being clear and to the point. 

Use materials like infographics, FAQ sheets and comparison charts to explain benefits options, price breakdowns and pros and cons. Make sure information is easy to grasp.

Show that you value each unique business client. Their needs will be different from those of the next business. 

Prioritize personalization through consultations, one-on-one meetings or webinars with the business’ team to talk about specific needs and priorities. This level of support also leaves room for customized answers to client questions.

One of your goals should be ensuring that clients have all the resources they need to make informed benefits decisions. You can play a major role in this process by:

• Developing how-to guides
• Providing tutorials for any new tools
• Recording videos to explain benefits options

Benefits, alongside the enrollment process, can be hard to navigate. Make it easier for your clients by providing tailored educational resources.

You’ll never properly measure your effectiveness without hearing from your clients directly. Set up a system to gather and respond to client feedback regularly. Try implementing surveys or simple forms to uncover areas that need improvement.

Employers should do everything they can to stay competitive, especially in a job market like ours, where top talent increases its expectations and requirements each year. Providing legal insurance helps you show a new level of employee support, offering a benefit that other companies aren’t offering.