start with convenience
becoming more and more a part of our society. The internet has accelerated convenience to warp speed. You can pay your bills, order/send flowers,
take care of all your travel needs, send letters instantly and on and on it goes. You can learn about your employee benefits and make your entire employee benefit elections
via the internet in the comfort of your home. No longer does a group of carrier representatives or human resource personnel have to conduct multiple group meetings to disseminate employee benefit information. More and more employers, through their
brokers, are utilizing technology to provide convenience and opportunities for their employees. You can go to the pharmacy at your local grocery store, purchase some prescription drugs and pay for
them using your
healthcare reimbursement debit card. One swipe, no claim forms to submit—what a time saver!
All of this frees up time to spend more time with your family,
enjoy your hobbies, serve in the community, etc. Employers recognize the fact that employees prefer to buy their financial products at the worksite through the convenience of
According to the 2004 MetLife Employee Benefits Trends Study, 55% of employees surveyed preferred voluntary benefits because of the convenience of
payroll deduction and another 51% found it more convenient than buying retail.
who provide a menu of voluntary benefits are becoming commonplace. Benefits like life insurance, disability insurance, critical illness, limited medical expense, cancer, vision,
legal, and even pet insurance. Employees feel comfortable that their employer has done their due diligence and have selected competitive benefits from reputable carriers. More than two-thirds of human
resource HR professionals feel that attracting and retaining workers is the biggest threat to bottomline profitability, As the economy continues to grow and Baby Boomers retire, companies are facing stiffer competition
for top talent. Nearly
half (47%) of
indicate employee retention as their number one concern.
that the popularity of voluntary benefits offered at the worksite amongst employers and employees continue to rise. Ask yourself the question or better
yet pretend to be part of the rank and file and ask the question “Where would I prefer to conduct the majority of my financial and insurance business—at
work or at home?
If you are not taking advantage of marketing voluntary benefits to employees at the worksite, well let me just say, that the
has left the station and there is no stopping it—purchasing financial/insurance products at the worksite is not the future—it
Come on board!
the power of cross selling
You have limited marketing dollars, yet you need a substantial boost to sales & earnings
• Solution: Pick the low-hanging
fruit, such as selling more to people who already have a relationship with you
• Benefit: You should increase sales and get
a whopping return on your marketing investment
Go after the Low Hanging Fruit !
The vast majority of businesses have a customer base composed of individuals and companies who have purchased their products and services in the past. Few brokers act on this fact. All too often,
brokers spend virtually all of their marketing dollars, time and talent seeking to generate new business relationships while the low-hanging fruit dies on the vine.”
The more products he had with each of his customers, the stronger his position was
customer and the harder it was for a competitor to de-throne him. Use our revenue formula tool (see below) and estimate your
potential first year and renewal commissions for each client.
love the convenience of payroll deduction and doing business at the worksite! Competition today is tough and relenting. Cross-selling makes good business sense and it is effective. Time and commission
passing you by if you find yourself still asking the question, “Should I be selling voluntary benefits?” You should already be in motion helping your clients help their employees solve their financial needs.
Enjoy the taste of that low hanging fruit as you market voluntary benefits with Worksite Resources