PEOs provide significant advantages to small businesses through the deployment of efficient, full-featured HR solutions. The importance of employee benefits, specifically, in attracting and retaining talent as well as increasing business productivity has been thoroughly established by research. As such, businesses are partnering with PEOs in order to reduce their costs and boost their likelihood of success. However, PEOs don’t exclusively work with businesses, as they often also work with employee benefits agents. Forming a partnership with a PEO can provide significant advantages to your benefits agency by saving money on servicing costs while helping to protect your book of business and remain competitive in a space where competition abounds.
According to a 2018 SHRM (Society for Human Resource Management) survey on job satisfaction, 92% of employees indicated that benefits are important to their overall job satisfaction. In fact, a third of employees cited their benefits package as a top reason for not pursuing a job with another employer. This makes it abundantly clear that employee benefits are an exceptionally important component of modern employment.
As more small businesses seek to reduce their costs and follow the latest marketplace trends, it creates the perfect space for PEOs to establish new partnerships. In this type of environment, employee benefits agents who partner with a PEO also gain a competitive edge. Those agents with limited resources may struggle to bring down costs—or to offer the most sought after services. On the other hand, by working with a PEO, benefits agents can offer more services to their clients while reducing costs for both their clients and themselves.
Partnering with UES can provide employee benefits agents with a master health plan. This can dramatically reduce the health insurance costs for qualifying clients while making your agency more attractive in the marketplace. As a result, your clients will be more likely to remain on the books and may even direct other colleagues towards your agency, thus growing your business and creating more winning arrangements for everyone involved.
UES can also provide employee benefits agents with access to a full-service benefits department, not to mention a wide variety of other related HR solutions. Working with UES allows your agency to provide prospective and existing clients the HR resources and benefits of a much larger company. This will help the clients get their needs met while relieving servicing costs for your agency. It can also assist in onboarding new clients who are looking for quality benefits offerings as well as retaining those clients already on the books who may otherwise choose to take their business elsewhere.
Due to the substantial advantages and business solutions provided by a quality PEO, it shouldn’t come as a surprise that the overwhelming majority of business owners who work with a PEO would recommend a PEO to a business colleague. For an employee benefits agent, having the option to quickly recommend a PEO solution to a small business could mean the difference between gaining or losing a customer. Don’t get left behind in this quickly-evolving industry by losing more clients to other agents who offer more comprehensive and competitive client services. Instead, consider partnering with UES to create winning solutions for your agency and your clients.