Businesses are always looking for value. As a broker, you can help them see the importance of key programs and policies like employee wellness and sustainability.
Key Takeaways:
- A broker must stay ahead of the latest HR trends.
- Businesses need support with these key programs and policies: employee wellness, identity theft training, workplace safety training and drug-free workplace programs.
- Working with a PEO can increase value for your clients.
As a broker, you’re always looking for ways to improve client experiences and generate more business. As more employers upgrade their practices to serve a changing workforce, you should be one step ahead of them. This takes understanding the market, the latest benefits trends and how employer clients can continue leveling up each year.
Did you know there are specific programs and policies to implement that help you provide better rates and solutions to clients? Offering more value allows you to stand out, attract more clients and grow your business.
This guide covers many of those program and policy options, and why working with a PEO to implement them can help you increase client value even more.
Employee Wellness
More than ever before, employees today are concerned with establishing the right work-life balance. While that balance looks different for everyone, top talent consistently seeks ways employers can help improve life outside of work.
With employee wellness programs, employers invest in the physical, financial and mental well-being of their employees. Components of the program may include gym membership discounts, employee assistance programs (EAPs) for counseling, stress management and financial wellness education.
According to the Centers for Disease Control and Prevention, well-executed employee wellness plans can save businesses up to 25% on absenteeism, healthcare costs and workers’ compensation and disability management claims costs.
Cyber Security Training
Another area to strengthen programs and policies is cyber security. Most workplaces now use a mix of platforms and software. Stronger security practices are now required, and policies should be reviewed regularly.
A key program for your employers should be identity theft training that helps employees stay up-to-date on the latest trends and provides guidance to bolster data security. By partnering with a PEO, you can provide your clients products that ensure best cyber security practices and protect against identity theft.
Additional cyber security training ensures employees are properly prepared for cyber attacks, helping prevent data breaches within their organizations.
Safety Training
It is the responsibility of companies to provide their employees with safe work environments. Safety training and education can help your clients establish trust with their employees and increase awareness of workplace hazards.
In some cases, ongoing safety compliance and reduced workplace accidents can lower a company’s insurance premiums.
Of course, educating your workforce takes time and energy. And not all safety training is created equal, however. The top PEOs can develop customized programs that help ensure your clients the safest workplace possible.
Drug-Free Workplace
Organizational leaders often opt to create a drug-free workplace program, which implements drug testing, drug policies, education about drug use and EAP offerings. Some federal organizations and federally-funded businesses are required to implement a drug-free workplace program, but for many companies, it’s not mandatory.
However, a drug-free workplace program can provide your clients the following advantages:
- Increased job attendance
- Fewer work injuries and accidents
- Greater productivity
- State-subsidized incentives, including cost savings on workers’ compensation premiums (not available in all states)
A professional employer organization (PEO) can provide a range of services and resources to help establish drug-free workplace programs. This includes:
- Policy development
- Compliance management
- Employee training
Other Ways a PEO Can Help
Not all organizations – particularly smaller businesses – have the resources to support these additional programs and policies. This is where the help of a PEO can be extremely impactful.
PEOs can help businesses take advantage of these programs. By offering these services to your clients, you’ll increase satisfaction and improve annual contract and lifetime value.
Consider partnering with a PEO for the additional benefits you, as a broker, can receive:
- Win more business with the added value of a PEO and the comprehensive employee benefits and HR solutions you can offer your clients.
- Give you and your brokerage a competitive advantage by offering rates usually only available to large corporations.
- Provide additional HR services and build a more reliant support system for your clients.
- Offer better HR tech software and personalized service.
- Give your clients dedicated support and resources.
Broker-PEO partnerships also allow your customers to receive perks like access to employee benefits packages and personalized services. In sum, PEOs can help your brokerage provide better services to clients and continue to grow your business.
Contact PrestigePEO to learn if a PEO partnership might be right for you.
