Human Capital Management vs. Workforce Management: Similar terms with different meanings

By Corey Clacher, Kronos SaaShr Marketing Specialist

As a service provider, you’ve likely heard the term “Human Capital Management” (HCM) being used more frequently in the industry. With the continual advancement of technology and the evolution of the typical service organization into a one-stop-shop for all of their clients’ workforce needs, the term “Workforce Management” (WFM) is losing its foothold and becoming industry jargon of the past. If you’re still using the term “WFM” when referring to the solutions you offer your clients, you may want to consider transitioning your marketing to focus on HCM in order to better represent what you’re offering your clients.

You may be asking yourself if there’s really a difference in meaning between the two terms or if they can be used synonymously to mean the same thing. Fortunately, I’ve come with answers to your burning HCM questions. In short, yes the terms are different and no, you shouldn’t use them interchangeably when referring to your automated platform. I’ll tell you why below.

To put it simply, look at WFM as a subset of HCM. WFM solutions cover areas such as clients’ time and attendance, scheduling, and absence/ACA management needs but don’t necessarily incorporate other areas of workforce needs like HR and payroll. However, a proper HCM solution handles ALL of your clients’ needs, encompassing areas of HR management like benefits administration, recruitment/talent acquisition, and compensation management in addition to payroll management such as tax filing, check printing, and gross-to-net calculations. If you’re a full suite Kronos SaaShr licensee, hopefully you’re leveraging your technology offering as a complete, all-in-one HCM solution.


Of course, not all HCM solutions are created equal. And while some vendors claim to offer complete and integrated HCM solutions, under the surface they simply aren’t. At its core, integration between time management, scheduling, HR, and payroll modules are essential to be classified as a true HCM platform. Of course, the Kronos SaaShr HCM solution takes it a step further by offering one single unified platform for the entire workforce. That means a single employee record, a single source of truth, and a single user interface between all modules.

A unified platform means a single login to access all system capabilities and a common user interface, database, reporting engine, and security point. These capabilities allow users to view key data in real time and help to eliminate error-prone duplicate data entries and reduce reporting complexities that lead to noncompliance risks.

When offering one unified HCM platform to your clients, you should have a fully comprehensive solution that can address the needs of their entire workforce, empower their employees with self-service tools, and enforce their policies accurately and consistently. Providing your clients with an automated HCM solution to streamline their administrative tasks allows them to attract and retain top talent, successfully manage the employee lifecycle, engage their workforce, and most importantly, allows them more time to focus on people, not processes.

So the next time you’re demonstrating the features and benefits of your HCM offering to a prospect, don’t sell yourself short. If you’re a Kronos SaaShr licensee, you’re at the forefront of HCM technology. You no longer offer just a WFM tool, you provide your clients with a unified HCM solution backed by your expertise and support to handle all of your clients’ workforce challenges.

Tips for Marketing to Today’s HR Buyers

By Lisa Jackel, Content Writer, 190west

Where are these mysterious HR buyers that have seemed to vanish overnight? HR by nature is a gateway into a company, however this trillion-dollar market is MIA –  leaving many companies to develop relationships with voicemail and auto-generated email replies.

As a digital marketing agency that targets the HR buyer ourselves, 190west understands the uphill battle solution providers face when targeting today’s HR buying market. We have analyzed behaviors and assessed strategies. We have assembled focus groups and 190west-logolistened to what they’ve had to say first hand. We have learned what works and what doesn’t. All in an effort to better grasp this elusive market.

Approaching the HR Buyer is like hunting in the wild. You need to be a shrewd tracker. Have patience and pace yourself. Every tactic calculated, in anticipation of their next move. You must stay one step ahead. The only way companies can do this is by building responsive campaigns to initialize and maintain engagement.

190west develops and executes customized marketing plans for every client. These comprehensive “playbooks” contain a series of strategies that identify gatekeepers, develop effective communication, build brand awareness, and convey the right message to the right person. By doing something similar, companies can expedite complex buying cycles and vendor evaluation processes to position products and services ahead of the competition.

As you prepare to market and introduce yourself to the HR buyer, note the following:

HR Buyers Hang Out Together
The tight knit HR community can be found in droves, if you know where to look. While they may not all meet up for drinks after work, they do hang out together in similar spaces online. Imagine marketing to clusters of your target audience versus fishing in an ocean of one. Casting that wider net on the ‘net is a more effective method of lead generation. So how do you get started?

  • Identify the specific websites frequented by HCM professionals and your HR Buyer.
  • HR Influencers spread WOM praise through blogs, boards, and viral media.
  • Online resources can identify common HR terms and phrases searched online daily.

Integrated campaigns allow you to reach a plethora of buyers. Using analytics and trend analysis to predict behavior, strategic placement of actionable OLA, and SEO tools and tactics that handpick the keywords most often used by your market, you can introduce yourself to multiple buyers with a single message.

Tell’em What They Want to Hear
Easy right? Not so much. Now that you’ve got their attention, how do you turn a quick glance into a captive audience? (Cue the drip campaign.) Which brings us to our next question, what do you plan to say?

  • A company’s initial message should be clear, concise, and convincing. (Not easy with a 15 second window, and that’s generous).
  • Before launching any digital marketing campaign, your value prop should be prepped and honed to perfection.
  • Have assets at the ready, geared up to turn prospect into lead – put your best foot forward with quality content.

Whether it was Oscar Wilde, Will Rogers, or Madison Avenue that originated the phrase “you never get a second chance to make a first impression,” choose your words wisely. This is where you introduce your company to your buyers and start to be heard.

Tougher still, maintaining that momentum. Say hello to remarketing efforts – keep your brand, your solution, and your genius top of mind.

Oh, And Make Sure You Know Who to Talk To
Well duh! But one of the most common mistakes companies make is assuming their finely tuned, awesome message is getting though.  When in reality it’s probably not. And if it is, it’s not getting very far.

You can drone on and on about what a great product you have, but if no one understands why it’s great, the only person you’re winning over is yourself.  While we’ve discussed the need for the value proposition, the one thing you need to recognize is that a vendor evaluation process is just that, a process. Multiple decision makers at every level of an organization typically means that opinions and personalities run rampant at the intersection of vetting and short-list. You have a general idea of what to say, but who do you target?

  • Determine who key stakeholders are in the process and the domino effect that their two cents has on pushing you further in the door.
  • Identify their specific needs and understand that each will be asking themselves the question, “what’s in it for me?”
  • Leverage reporting and analysis from earlier campaigns will allow you to refine the message and use more effective techniques to expedite communication.

From tactical usage to ROI, at this stage of engagement your message and overall approach will be tailored to each decision maker. Pair existing strategies with new marketing mediums such as demos, whitepapers, and case studies to ensure that individualized content is received by the appropriate person.

Integrated programs tend to evolve over the course of a marketing plan. As campaign analysis and reporting is shared, your tactics should be flexible enough to accommodate this change.

As an HR buyer delves deeper into learning about products and services, the structure of your marketing will progress from brand awareness into a virtual walk-though of solutions. It’s your job to help navigate the user through the information and get exactly what they need to make a decision faster.

Also, with more companies attempting to reach this lucrative market, your audience is likely saturated with the teachings of all-too-similar solutions. Therefore, businesses must focus on their key differentiators and promote unique attributes.

No matter what angle is chosen to initiate brand awareness however, companies should recognize the importance of implementing tactics that support a larger campaign. This will effectively further engagement, fortify a pipeline, and move potential customers through your sales funnel. The days of one-off marketing to the HR buyer are long gone. And, the single siloed approach is nothing more than a waste of time.

About 190west

190west is different. We’ve developed what we call the All-in Approach™ to digital marketing. As accomplished strategists, SEM, automation, content, and analytics professionals, we collaborate with you and complement your team. We make sure that we are jointly attacking all the marketing tactics needed to drive leads and speak to your specific business goals. We measure and adjust constantly. We do what it takes, we make it happen. We are All-in.

Like All Sales Professionals, Service Providers Need Their Network

By Rob Tiernan

Today’s post is the third and final in our mini-series by Rob Tiernan from LincWare. Click here to read the second post, which provides great tips on how the right strategy and technology can make a huge impact on the follow up conversations you have with prospects. LincWare, based in upstate NY, offers solutions to make the end of the sales process easier for payroll companies.

We’ve now covered some techniques for both starting the conversation with new prospects, as well as a variety of tools you can utilize when attempting to follow back up and reengage those prospects. Hopefully you were able to test out and see positive results in your pipeline from some of those tips.

Even before a prospect engages with you, it’s imperative that you position yourself well in order to be the person they reach out to when they need a service that you offer. You’re likely not the only person offering services in the marketplace, and both national players as well as other local providers are out there looking to do the same. So how do you make yourself stand out from the other people trying to be the expert in the same network as you? It can be tough, but our latest video in the series discusses proven techniques for leveraging LinkedIn, a tool many use, but few use as effectively as possible. It then goes on to share a great technique for tracking your relationship with the leads in your pipeline.

Your LinkedIn Profile

It all starts with your profile, the basic run-down of what you do and who you are. However, you don’t have to make it another version of your resume. By following some of the tips in the video, you’ll be able to populate your LinkedIn profile in a unique way that can generate a good deal of attention.

Networking on LinkedIn

Just like working a room at an industry event, LinkedIn is all about meeting people and building relationships. Reach out and be assertive. Remember, you’re all there for the same reason. But perhaps the most important message to keep in mind here is to “Give before you ask for”. Using a simple formula touted by LinkedIn as the most effective method for earning more connections, the video explains how this simple tactic has proven to bolster his sphere of influence and reputation in the service provider community.

Lead Scorecard

While the mantra of a sales team is usually “Do whatever it takes to make the sale”, you have to make sure you stay in control of the sales process. By this, we mean that the sales process should really be a give and take between you and your prospect. For instance, when a prospect asks for a demo, you should ask that their key decision makers be on the call in order to ensure the most effective use of your time. One technique to test out in your sales process is the use of a scorecard. This simple tool allows your sales team to gauge if the prospect you’re trying to close is good business, both from your perspective and that of the prospect’s, and that both sides are contributing throughout the process.

What are some tips and techniques you’ve found to be effective when utilizing LinkedIn? Please share your comments below.

About Rob Tiernan:

Rob joined LincWare in late 2013 to lead business development for LincDoc’s growing applications in outsourced business services. He brings a formidable background in account management, owning a unique touch for training, product development, and marketing. Having spent well over a decade with Paychex, Rob accumulated an impressive collection of recognitions in sales and account management, namely several Circle and Conference Qualifications and more than 1,000 clients sold. His approach to servicing and contributing to growing companies is what sets him apart and will allow him to flourish while educating the market on the many benefits of software-driven business decisions.

2015 Payroll and Workforce Management Sales Goal Planning

By Josh Davis

It’s that magical time of the year again for strategy and planning. As I speak to a lot of our reseller partners who are doing exactly that, I’ve been asked a lot of questions around typical net new customer sales metrics that their companies should be incorporating as goals. There are consistent problems across many payroll companies though, that are causing these companies to loosely estimate their goals based on increases from previous years’ sales.

So, how should payroll and workforce management providers be planning for 2015 sales goals?

Ensure Your Marketing Funnel is Laid Out – The core aspect of planning your goals comes down to process, and many service organizations do not have a clear cut path from the time a company is identified as a prospect to that prospect either becoming a customer or being rejected because they are not an ideal customer. Sirius Decisions has a demand waterfall model that’s easy for businesses to replicate. Here’s a quick breakdown:

Inquiries – Inquiries refer to companies that are coming to you for more information about your services (such as downloading a whitepaper from an email, filling out a form on your website, calling you directly, etc.), or they are companies that you find (whether online or offline) as potential prospects.

Marketing Qualified Leads – These leads meet the parameters of what you are looking for from an ideal customer perspective. So marketing and sales must agree on exactly what these leads “look” like. Additionally, we try to follow a model where our sales team is only following up with “hot”, prequalified leads, so consider this a telemarketing level. We have lead development representatives calling and verbally qualifying these leads to ensure there’s interest in payroll, time and attendance, or some other aspect of our workforce management platform. This way, sales can spend time on actual revenue opportunities.

Sales Accepted Leads – Once pre-qualified, the sales person can evaluate the lead and essentially confirm that there is an opportunity here, and that they’re going to attempt to qualify it from a sales perspective with a discovery call.

Sales Qualified Leads – After their discovery call, the sales person can add this lead to their pipeline because they’ve confirmed that this company is not only an ideal prospect, but also has a need for the solution that they’re actually selling. Otherwise, as with each other step, they reject it.

Closed/Won Business – If you need help identifying this one, you’ve got bigger problems than planning for next year. But quite simply, this step entails that there is a signed contract in place, and the new customer has been passed to an implementation / new customer team.

Determine Your Conversion Rates – Once your company can lay out this process, or if you’ve done so already, you can see the total number of leads coming through your business, and how many are making it to each step within your funnel. You can compare your conversion rates to the industry standard conversion rates from Sirius Decisions to see if you have any serious problems that need to be addressed in your funnel. And note that if you are one of our reseller partners, and receiving Marketing Qualified Leads from us, you’re likely closing these leads at a much higher rate than the rest of your leads, so it may skew your numbers quite a bit if they’re included in your calculations. Starting with 1,000 inquiries over the year, here’s what you can expect as each type of sales/marketing organization:
Average: ~3 Deals (.3 percent overall conversion rate)
Strong: ~6 Deals (.6 percent overall conversion rate)
Best-in-Class: ~13 Deals (1.3 percent overall conversion rate)

As some perspective, you may be able to go much higher. Through our leads program, we see approximately 27 Deals – a 2.7 percent overall conversion rate – which is double the best-in-class standard.

Uncover Your Average Deal Size – This is something you should already have a handle on, but what is the average contract value (ACV) of each new customer that comes through your door? This will give you an idea of how much business was actually booked (i.e. bookings) during the year. If don’t already have a handle on this, you need to attain a customer relationship management (CRM) solution to easily understand this. Otherwise, you’ll have to dive through the data within your account or billing software.

Work Backwards and Understand What’s Possible – Now you want to work backwards and understand what are achievable goals for your business:

  • Revenue Goal Theory: Let’s say you’re targeting $500,000 in new business for the coming year because you know you booked $400,000 this year, and you want to grow 25 percent year over year (YoY).
  • Average Deal Size: You take a look at your ACV and find that each new customer is $10,000.
  • New Customer Target: You now understand that you need to generate 50 new customers to hit that goal.
  • Inquiries Needed for Customer Target: Now you can figure out based on your particular conversion rate, how many inquiries your marketing efforts need to generate to meet that new customer goal. Keep in mind that some types of inquiries will convert better than others (customer referrals or existing customer upselling for instance). So, your marketing team will want to create a healthy mix of quantitative and qualitative inquiries that can be qualified and passed to the sales team. An organization with a strong conversion rate, as defined above, would need marketing to generate roughly 8,333 additional leads in order to add 50 new customers.

This allows you to ensure that if every function of your sales and marketing team has goals that you can monitor, you can understand whether or not the company will be able to hit the sales goals you put in place – allowing you to turn success into more of a science.

What’s your approach to determining goals?

About Josh Davis:

Josh is the Channel Marketing Manager at Kronos SaaShr, and is responsible for driving the marketing strategy and plan aimed at increasing the growth of existing channel partners in addition to the recruitment of new channel partners.

The Opportunistic World Beyond Payroll – Strategically Expanding for Long-term Growth

By Josh Davisopportunistic

As the annual conference for the Independent Payroll Providers’ Association nears and I prepare to present one of the general sessions “The Opportunistic World Beyond Payroll”, I think about how so many vendors vie for the attention and business of payroll service bureaus. For payroll companies like yours, it’s easy to lose focus on the importance of developing a long term strategy or plan for continued success due to the constant onslaught of shiny objects being dangled in front of them.

In reality, service bureaus have the power because they hold the payroll-related data for hundreds or thousands of clients – it’s the employee record that is absolutely, positively required with any company that has employees. Yet, payroll companies will have trouble surviving in the next five years by only providing payroll and a few ancillary, disconnected services. This is especially true when you look at companies like ZenPayroll and Zenefits turning the traditional payroll model on its head. Payroll companies need to react before it’s too late and these newcomers start eating their proverbial lunch.

By strategically expanding into human capital management within areas like workforce management, recruitment, core HR, learning, performance, and compensation, the payroll service bureau industry as a whole can position itself for long-term success and growth.

However, service bureaus don’t just want to hop on the bandwagon, there’s more to this shiny object then you may initially think. Here are seven considerations the traditional payroll company will want to think about when evaluating how they’ll build their product and service offering of the future.

Target Market
What is the impact these new products or services will have on the market they target, and is it something they’re already asking for or something the payroll company will have to educate them about? How can the ROI or business impact of the product or service you’re looking to expand with be proved, and how is that positioned to your target market?

Employee Skill Sets
The skillsets that service bureaus hired their employees for or trained them in after they were hired are not necessarily the skillsets needed for the products or services being expanded to. A more diverse set of skills based on HR and human capital management solutions will need to be learned by existing employees or attained through new employees.

The Service Bureau Network
If a service bureau doesn’t have the bandwidth or expertise to cover these services internally, and there aren’t resources available to expand, a strong network needs to be put in place with companies that specialize in these various types of services. And for those services that are taken on, a strong referral network can be instrumental in getting these services to market.

Client Relations
Service bureaus have a network of engaged listeners – their existing clients. Revenue can be generated from them a LOT easier than completely new clients. In fact, the probability of upselling an existing customer is 60-70 percent when compared to a new prospect which is only 5-20 percent. Yet, very few service bureaus have any dedicated account managers or sales people that focus on account management… or even have a compensation plan for upselling clients.

When we look at studies by firms like NelsonHall, there is a continuing trend downward in the average price charged by payroll companies per pay statement. One of the reasons for this sort of commoditization taking place in payroll is that technology is becoming more powerful and the efficiencies in that are improving margins. As payroll companies expand their products and services, how will these new offerings be priced, and how does it impact the price for payroll when they’re able to offer it as a connected “bundle”?

Payroll has always been the golden goose for the typical service bureau, and their sales team. It’s what has traditionally been lead with and was the goal with all clients – to provide them with payroll. This should still be the goal because the goal is to manage that payroll data and the employee record, but the service a prospect needs may not always initially be payroll. So service bureaus need to ask themselves “How do these expanded services change my sales process?”

If the payroll company isn’t always leading with payroll, and it’s not the main differentiator anymore, what does that mean for the company’s brand? They’re growing beyond a payroll company to the go to resource to solve business issues and challenges. Should their company still be known as Payroll Profs, Payroll Experts, Payroll People, etc.? Or should they start branding themselves as Human Capital Profs, Workforce Experts, Employer Solutions, etc.

Overall, payroll companies should build a long-term plan depicting what their offering looks like and how their organization will change over time in the areas mentioned above as a result of what they definitely will and will not offer.

I look forward to getting into more detail at the IPPA Annual Conference later this week, but until then, let me know what some challenges you’ve had or anticipate having in expanding your offering beyond payroll.

About Josh Davis:

Josh is the Marketing Manager at SaaShr responsible for increasing the growth of existing channel partners and the recruitment of new channel partners while positioning the SaaShr brand in the market through the development of both traditional and digital marketing endeavors.

Health Insurance Broker Referral Programs – What Do Brokers Want in Technology? (Part 2)

By Josh Davis

In following the market for the last few years, and identifying how brokers function, what their pain points are, and why they’re in the brokerage business, we found that most payroll and workforce management providers aren’t covering the whole story in terms of why a referral partnership makes sense. The true value that a provider like you can really bring to these brokers is not being communicated. Many of you out there are only covering part of the value proposition, which we discussed in the first article of this series.

So, why would health insurance or benefit brokers want to be part of your payroll or workforce management company’s referral program?

Here’s what brokers view as the most important aspects of your workforce management platform, but they may not realize it. By covering these types of features you will really open brokers’ eyes to the opportunities that can be realized by working with you.

However, let me preface the list with this – there are two types of brokers:

  1. The old-fashioned broker – the old-fashioned broker is the type of broker you know well. They handle insurance brokerage in its most basic form. They simply sell insurance plans for commission. These brokers are the ones that were negatively impacted by commission caps and the Affordable Care Act (ACA), and are struggling today. They’ve largely taken a reactive approach to these changes and simply diversified with other types of benefits outside of group health.
  2. The new age broker – the new age broker took commission caps and the ACA as sign that they needed to reinvent themselves. These are the brokers that go beyond just selling the plan. Not only did they diversify, they also started providing value-add services, and began taking a much more hands-on, consultative approach. Many have also transitioned to a fee-based model. These will be the best types of brokers to target in your referral program.

Now for what you’ve all been waiting for…

Benefit Reports – First and foremost, regardless of the type of broker mentioned above, they will want to be able to get all the critical benefit reports they need without having to bother their clients for it. From a configurable employee census report to a benefit coverage report, you want to provide them with access to it all, so they can continue to be the masters of their original domain. However, with great power comes great responsibility, and they need their client’s permission to gain access to the company’s data.

Benefit Plan Configuration – For those more hands-on, forward thinking brokers, you’ll want to share that you can enable them to configure the benefit plans employees see during enrollment. Not only can they directly communicate the advantages of each plan to the employee, allowing them to compare the plans and upload documentation, but they can also add any voluntary plans they’re looking to promote to employees. By giving them the control to add voluntary plans, they can be sure every employee either enrolls in or waives these plans they offer like life, vision, dental, disability, etc.

Benefit Enrollment and Administration Modules – If you’re providing the technology for employees to enroll in benefits and administrate benefits after life change events, that’s one less thing the brokers need to worry about. This makes working with them perceived as that much better by their client as well because you’re presumably offering this through self-service not only for the people enrolling, but the administrator as well allowing the full spectrum of enrollment to be complete through the proper approval chain via configurable workflow.

Carrier Connections – Then you want to do something no other platform does – you want to be able to provide them with the ability to take the deductions out of payroll, and create a carrier connection for the insurance carriers to be paid. Furthermore, if someone is terminated, you want that alert to go to the carrier so that billing ceases for that employee.

Automated Broker Email Alerts – The brokers also want to be kept abreast of benefit information at specified frequencies or benefits changes as they happen. You should be able to provide them with notifications for when a new employee is hired, an employee becomes eligible for benefits, an employee enrolls in benefits, and employee is terminated, etc. All with the goal of helping them identify new opportunities within their clients’ organizations to capitalize on.

Employee Communication – Not only do the brokers want notifications, but they may also want to control the communication and alerts that employees receive when it comes to benefit plans. They want to be able to have a direct line to the employee, and there are companies out there that provide solutions to brokers just for doing this. However, you should be able to provide them with the ability to customize the automated emails for benefit eligibility, pre-open enrollment, post-open enrollment alerts, etc.

ACA Compliance – And for the icing on the cake, you want to ease brokers’ frustrations around helping their clients with compliance regarding the ACA. Any ACA solution you provide should be designed to help with proactive management of ACA compliance across a company’s entire workforce. If your workforce management platform is complete with Time and Labor Management, HR, and Payroll, you should be able to manage the look-back periods, upon eligibility being determined, provide the solution for enrollment confirm affordability of the plan chosen, keep track of the stability periods, and really bring ACA compliance full circle.

What your technology will really help them with is to streamline their ability to efficiently manage their clients’ benefit programs and proactively capitalize on new benefit opportunities. You should be communicating the tools you can provide them with to help them service, support, and manage their clients more efficiently while capitalizing on more revenue opportunities without any need for manual intervention because you’re providing on-demand, secure access to their clients’ benefit-related data. All this, in turn, will make them more likely to refer a larger percentage of their client base to you.

How else do you differentiate yourself from other companies in your space when it comes to broker referral programs?

About Josh Davis:

Josh is the Marketing Manager at SaaShr responsible for increasing the growth of existing channel partners and the recruitment of new channel partners while positioning the SaaShr brand in the market through the development of both traditional and digital marketing endeavors.

Part 1 – Health Insurance Broker Referral Programs – What Do Brokers Want in a Provider?

By Josh DavisReferral Network

As we wrapped up exhibiting at the Benefits Selling Expo earlier in the month, and announced our referral program, I asked myself “Why are brokers not creating more relationships with regional payroll service bureaus or workforce management solution providers?”

There is a clear synergy between the two groups that allows each party to better service their clients. However, both sides take a very reactionary approach to partnering. If a broker is about to lose business to a national player offering not just benefits, but payroll and other workforce management-related services, they find a regional payroll provider to partner with in order to compete and win or keep the business. Alternatively, the payroll providers see a few brokers reach out to them, and in turn, reach out to a few other brokers to offer services to their clients. Neither party is taking a strategic approach to make referral programs a key part of how they regularly operate.

As provider of payroll and other workforce management services, you need to make sure these brokers understand why it makes sense to consistently work with a company like yours. Additionally, you’ll want to cover why your technology is the ideal platform for brokers to have their clients on, but we’ll cover that specifically in part two. And as a result of ensuring they have this understanding, they’ll be more likely to partner with you and refer your group a higher percentage of their client bases.

Here’s what we find brokers are looking for in a company like yours that you should already know:

A non-competitive provider – Based on your business model, you exist solely to provide payroll and workforce management solutions or services. You’re not in the business of providing benefit brokerage services, and nor will you be in the future. You won’t plan on cutting out the brokers like many of the national players have begun to do over the past few years. And if you are providing benefit brokerage services… you may not want to target this industry as part of your referral program.

Provision of a wide-array of payroll and HR services – By working together, you can collectively offer a wider array of workforce management-type services. Workforce management may not resonate with them though, so it may need to be positioned as payroll and HR services, which we’ll get more in to during part two. If they provide the benefits, you should be able to basically cover the rest of the workforce management gamut, and ensure that together, you’re offering the depth of services that the national providers are already offering and stealing their business with.

Help in increasing client retention rates and overall sales – Through offering this wider-array of services, brokers have access to more than just benefits in their tool belt. When prospective or existing customers demonstrate needs for more than just benefits, the brokers don’t have to react. They should already have a relationship with you set up to take advantage of the ability to provide solutions for these additional needs, while securing the benefits business they have or were after.

A service-oriented company located nearby – Being a regional provider, you should already be working the territory of the broker(s) you’re talking to, and have a majority of your client base located in that area. In their eyes, you should be a specialist with providing your services in that municipality, state, region, etc. There’s a level of comfort achieved on their end knowing that you’re not a company that’s located on the other side of the country, and if need be, they can drive to come see you or vice versa. At the same time, it’s important to share that although you’re a regional provider, you still have clients across the US. Many of these brokers can have clients with hundreds of employees that are in locations throughout the country, and they need to know you can handle that.

At the end of the day, they’re moving to more of a service-oriented approach as a result of the changes to the healthcare industry, and they need a provider that can deliver an exceptional level of service to their clients. They need to trust you and feel confident that their clients will be in good hands, and satisfied with the level of service and relationship this broker introduced them to.

Covering the rest and allowing them to focus on the business of their business – By working with you, brokers should be able to stop worrying about if they can continue to compete with national payroll providers, and focus solely on the business of their business – group benefits. While you’re covering their clients’ workforce-related needs, they can concentrate on providing their clients with the benefit plans.

Once you provide them with this information, they’ll still be asking themselves, “What makes them different than any other payroll provider?” The answer to this question lies in part two of this series, your technology, and how, with it, you’re going to improve the way they run their business. You can make it even easier for them to provide greater service through your technology while capitalizing on more benefit opportunities.

Are there any other aspects of your company or business model that you deem important to educate brokers on? Feel free to insert your thoughts in the comments section below this post.

About Josh Davis:

Josh is the Marketing Manager at SaaShr responsible for increasing the growth of existing channel partners and the recruitment of new channel partners while positioning the SaaShr brand in the market through the development of both traditional and digital marketing endeavors.