HOW ALPHASTAFF WORKS WITH BROKERS, NOT AGAINST THEM

Transcription

1 HOW ALPHASTAFF WORKS WITH BROKERS, NOT AGAINST THEM Putting a spotlight on the special partnership between insurance brokers and human resources outsourcing professionals.

2 CONTENTS HR Outsourcing Companies The Talents of the Multi-Trick Pony Broker Challenge The Landscape Zenefits Scandal Companies like Zenefits Scare Brokers Shaking the Stigma Developing Broker Trust Proven Honesty Conclusion It s Just Good Business

3 HR OUTSOURCING COMPANIES THE TALENTS OF THE MULTI-TRICK PONY It s a dog-eat-dog business world out there and every day small to mid-sized companies are doing all they can to float their brand against the more established names. That being said, employers have enough duties on their plate on top of having to worry about the constantly changing regulatory environment. Offering an all-in-one solution for companies, AlphaStaff manages employee benefits, payroll, workers compensation, risk/safety management, training and development, and more. AlphaStaff tailors its services for clients individual needs there s no such thing as a one-size-fits-all solution, something that other HR outsourcing companies don t believe in. AlphaStaff manages employee benefits, payroll, workers compensation, risk/safety management, training and development, and more. 01

4 HR OUTSOURCING COMPANIES THE TALENTS OF THE MULTI-TRICK PONY As a trusted advisor to their clients, the insurance broker community is constantly seeking solutions such as AlphaStaff s to simplify their client s business administrative tasks. That being said, why is it that the insurance broker community is hesitant to recommend these services to their clients? Insurance brokers have reason to worry the very fact that HR outsourcing companies, like the previously mentioned, also offer benefits and workers compensation, creates a large threat to their book of clients. However, a relationship with a company like AlphaStaff will do just the opposite. Paired with an emphasis on a trust filled relationship, AlphaStaff s broker-centric solutions will increase revenue from clients without poaching the broker s customers at renewal time. Don t believe it? Check it out. AlphaStaff s broker-centric solutions will increase revenue from clients without poaching the broker s customers at renewal time. 02

5 BROKER CHALLENGE THE LANDSCAPE Insurance brokers have traditionally seen HR outsourcing companies as competitors. This is because there s a history of brokers having outsourcing professionals steal their business right out from under them. HR outsourcing businesses can provide things like workers compensation and health insurance, therefore eliminating the need for insurance brokers. Today, brokers have become more open to collaborating with a company like AlphaStaff, but they still face challenges due to the everchanging digital era. This era is constantly trying to reinvent technology that changes the way companies control employees admin processes, thus leveraging relationships away from brokers and threatening their ability to retain old and new relationships. NEW EMPLOYEE ONBOARD 03

6 ZENEFITS SCANDAL COMPANIES LIKE ZENEFITS SCARE BROKERS The company used a program called Macro that made it seem like these aspiring health insurance brokers were completing the legal requirement of 52-hour certification training. The most recent scare came from the San Francisco-based company, Zenefits. This company s technology gave employers a free and easy way to outsource employees through on and off boarding processes on top of payroll and benefits management services. Such technology seemed too good to be true to business heads, but was regarded as a total job-stealing nightmare for brokers. Fortunately, it was too good to be true. There was serious outrage when the free online HR company was found to be falsifying broker s training course hours to get properly licensed. Curious as to how they did it? The company used a program called Macro that made it seem like these aspiring health insurance brokers were completing the legal requirement of 52-hour certification training. 04

7 ZENEFITS SCANDAL COMPANIES LIKE ZENEFITS SCARE BROKERS Essentially, the software was keeping the users active in the system and prevented the program from logging them out due to inactivity. That being said, they could complete the mandatory hours, without even doing the work. Scandal or not, most insurance brokers always viewed this technology as a threat to their careers, but this never should have been the case. The technology only makes mundane business administration tasks easy to file but clients miss out on the opportunity of a whole team of properly trained and seasoned consultants that can be found within an HR outsourcing company

8 SHAKING THE STIGMA Business administration technology is an incredibly helpful tool, but most effective when paired with the knowledge and expertise of insurance brokers and HR outsourcing companies. In fact, the benefits of this special partnership were highlighted in a 2013 study by the National Council on Compensation Insurance s chief economist Harry Shuford. Shuford s study found that HR outsourcing companies, like AlphaStaff, actually have a positive impact on the country s Workers Compensation system, giving insurance brokers an alternative resource for their clients. The key research revealed that outsourcing companies could handle catastrophic claim outcomes about 45 percent better than the traditional marketplace, therefore improving overall business. Business administration technology is an incredibly helpful tool, but most effective when paired with the knowledge and expertise of insurance brokers and HR outsourcing companies. 06

9 SHAKING THE STIGMA Additionally, the study explained that working with such companies gives 33 percent more visibility over workers comp costs and outcomes that smaller businesses wouldn t have access to on their own. The expertise of both these parties is mutually beneficial for the client as they don t have to rely on one industry expert. This allows the partnership to leverage this knowledge and provide the client with an all-encompassing employee administration plan including: Insurance Workforce management Human resources outsourcing solutions 07

10 DEVELOPING BROKER TRUST All the benefits of the partnership are accounted for, but like any strong relationship, you need to be able to know you can trust your significant other. Unlike the average HR outsourcing firm, AlphaStaff has a broker agreement a no trespassing clause that ensures they won t take a client away from a broker. In the past, brokers have been wary of going into a relationship with an HR outsourcing company because of their dishonesty, namely their tendency to poach clients. AlphaStaff s agreement also ensures that the broker is totally involved in the renewal process and works to keep out competing business by: Customizing solutions to broker needs. Protecting clients from aggressive HR outsourcing companies. Additionally protecting clients from threatening payroll services. AlphaStaff s long heritage of not only partnering with brokers, but also supporting the growth of the brokerage community has allowed the company to gain the reputation of being the Broker s PEO. AlphaStaff makes it a top priority to include brokers in their dealings. The Company lets the brokers participate in the decision making process and they ll be sure to tailor services based on the broker s client in order to form a comprehensive solution. 08

11 PROVEN HONESTY AlphaStaff s broker agreement isn t one of those things that just sounds good on paper, in fact, it s even better in practice. That being said, brokers can and do trust AlphaStaff. They are leaders in the nation when it comes to working with brokers and their small to mid-sized clients. This company has proven to be honest time and time again by contacting brokers to keep them in the loop on client relations. If a contact is shopping around, you better believe AlphaStaff will let a broker know. It s AlphaStaff s policy to make the broker the primary focus in the partnership. 09

12 CONCLUSION IT S JUST GOOD BUSINESS Simply put, it s in the best interest of AlphaStaff to garner healthy relationships with insurance brokers. About 90 percent of the company s business comes from broker referrals. With AlphaStaff, brokers can build a safe, long term relationship based on a foundation of trust. The broker becomes an invaluable source to clients as they can offer tailored solutions that fit the client s specific needs. AlphaStaff allows the broker to keep the lines of coverage and then carves out services for each client a service that not all HR outsourcing companies can do. In fact, most companies offer a one-size-fits-all package. This rigid model doesn t work for some clients, so it shouldn t work for the broker either. AlphaStaff has even saved clients from leaving brokers for another outsourcing company because of these flexible services. Together, brokers and AlphaStaff can work together to create a one of a kind package for individual clients, while the broker keeps their title as the trusted advisor. 10

13 CONCLUSION IT S JUST GOOD BUSINESS Here are real life satisfied testimonials from clients vouching for the service and flexibility of their package as a result of the partnership between AlphaStaff and brokers: I wear a number of hats in my organization and we are growing quickly. When we hire 10 people last minute I do not have the capacity to get everyone entered into the system, double check everything, and process payroll with everything go on. AlphaStaff s resources and system help not just manage our compliance/ payroll process but also execute them. CFO, Medium Enterprise Insurance Company We have had a wonderful relationship with AlphaStaff. The staff at all levels is professional and pleasant to work with. They have also been flexible about finding ways to meet our various reporting needs. The HR management support has been outstanding! What differentiates companies the most is their team and how they deliver their products and services. Is it a superior Team of Excellence? In AlphaStaff s case the answer is a big YES! We are always made to feel at-ease. Our questions are answered promptly, issues are resolved with integrity and skill, and every interaction is handled with a genuine the customer is number one approach. We are truly raving fans of AlphaStaff and its Team of Excellence. Sam D., Controller The Albanese Group Pam Dimitro, Controller, JNET Communications 11

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