If your business is the marketing of voluntary benefits you would want to use Trusted Source Marketing™ to improve sales. In fact, properly implemented, the method will reduce costs while increasing participation in every offered benefit.
As an employer, why would you want to use Trusted Source Marketing™ with your employees?
What advantages accrue to the employees, to the client companies and to the brokers with this system?
Why do companies offer benefits? The stock answer is to attract and retain good employees. If a product offered via payroll/settlement deduction is worthwhile, employers would want to see broad acceptance and participation. Again, to attract and retain.
As a salesman of voluntary benefits a common refrain heard from company owners and HR professionals is, “Most people don’t participate in the programs we have now. Why would I bother to offer another one?”
How can Trusted Source Marketing™ make a difference? The HR’s answer, to attract and retain good employees provides the motive. The effectiveness and reduced expense and time wasted in information/enrollment meetings are real gains for the client companies.
Once an owner or HR department has determined that their business is better off when an employee has good benefits it logically follows that the more employees who get the coverage the better off the company will be.
Retention is a big issue. Training expense, pre hiring expenses, seasoned help versus the lower productivity of new hires are just a few reasons why businesses want their people to stay. The more reasons good employees have to stay the better. When considering changing jobs people ask themselves lots of questions. Benefit packages are an area they think about. Just changing the payment arrangements for some can be sufficient reason to stay.
Currently more benefits are sold face to face in benefit counseling or enrollment meetings than via secure web site signup. But just like automobile insurance has become an internet commodity, Trusted Source Marketing of voluntary benefits can and will be done successfully with lower costs, less “lost time” and less disruption in the workplace.
Other reasons why employers are interested in Trusted Source Marketing™
- Trusted Source Marketing creates communication paths about things important to the employees.
- Dialogue between employees and employer about benefits improves dialogue about all aspects of business
- Greater understanding of advantages of all voluntary benefits
- Leads to greater participation
- TSM system creates access to providers from employees, privately, one on one for inquiries and reduces questions directed to employer’s staff
- Companies with widely dispersed operations may not be able to have “benefit meetings”
Tomorrow we will examine some advantages to employees, agents and brokers.