Economic trends like high inflation and uncertain job markets impact how employers prioritize spending and employee benefits. Fortunately, PEOs can help brokers and small and medium-sized businesses navigate these challenges successfully. The state of the economy impacts nearly everything. People limit their spending during high inflation periods. Companies may have to lay off workers if consumer preferences change and no…

As an employer, it is imperative to understand and comply with overtime pay laws under the Fair Labor Standards Act and subsequent updates. Employers have many regulations to follow, and one of the most important is overtime pay. Labor laws ensure workers are treated fairly, and this includes the pay they receive for working above the set national threshold for…

Choosing the right health insurance agent to provide small business employee benefits is essential. Employers need more than standalone health plans for their employees; they also need business consulting services, superb ancillary offerings to supplement core benefits, and HR administrative support. Benefits brokers and health insurance agents bridge the gap between an expansive healthcare industry and an SMB. They assist…

In a recent survey, 60% of employees said employee benefits were extremely or very important when considering whether to stay with their current employer. This means that it is critical for business owners to get their employee benefits packages right. With few exceptions, SMBs only get one chance every year to lock in the benefits that make them competitive: annual…

The PEO industry is growing every year. According to the National Association of Professional Employer Organizations (NAPEO), there are 523 PEOs operating in the US right now. As PEOs gain popularity, benefits advisors have a lot of potential PEO partners to choose from. Many benefits consultants have found partnership with a broker-friendly PEO to be highly rewarding. Broker–friendly PEOs create…

As an insurance agent or benefits broker, you may be curious about a partnership with a Professional Employer Organization (PEO). Working with a PEO allows brokers to expand their service offerings, attract new clients, and build resilient partnerships with current clientele. A PEO also introduces brokers to additional revenue streams through a variety of products and benefits plans available to…

Recent news from the federal reserve has indicated that the United States is headed for another recession. Employers and workers are bracing themselves for the impact. Whether it’s due to a recession, inflation, the pandemic, or another disaster, these events can send a thriving business into chaos. When you own or operate a small or mid-sized organization, the effect of…

Employees want essential benefits like good health insurance and retirement planning support. Take a look at these most critical benefit plans. Key takeaways: Employees prioritize health insurance, retirement plans, life insurance and disability insurance Perks like flexible work arrangements and family care support are becoming more important for some of today’s employees The four main types of benefit plans are:…

Developing goals to improve your staff’s skills can help retain talent and get the best work out of employees Key takeaways: Professional development goals help employees build skills, advance their careers and support their employer’s initiatives Benefits of employee development goals include: Employees are more productive Retention rates may improve Staff morale and engagement can increase Staff work toward company…

Retention is critical for today’s employers, as employees continue to quit when they realize they aren’t qualified for the role or don’t want to put in the necessary work Key takeaways: Retention is a key component of maintaining a healthy business and strong company culture Even when staff don’t resign, they may be “quiet quitting,” which is when an employee…