As the end of the year approaches, insurance brokers and their clients are most likely reflecting on the outcome of the current year and planning ahead for 2023. Perhaps broker clients struggled with administrative tasks, such as HR and payroll this year, or were dissatisfied with the service or pricing provided by a payroll and/or HR outsourcing partner.
At SynchronyHR, we value the relationship that brokers and their clients share. As a “broker-friendly” human resources outsourcing (HRO) firm, often referred to as a PEO (professional employer organization), we can help business owners and managers navigate a variety of employee management tasks, including payroll and compliance, while also supporting their broker partners in the process.
Here are a few ways SynchronyHR can help brokers and their clients in the upcoming year.
Helping Clients Grow
By providing access to services related to payroll, HR, employee benefits administration, risk management, and more, clients will see that their broker partners are looking out for their overall growth and success, while also helping them avoid administrative burdens.
The variety of human resources and payroll outsourcing services available to brokers also gives them a competitive edge over other vendor partners, and there is a chance that our services will come at a lower cost (our team will conduct a consultation to confirm these potential savings).
Protecting Brokers' Book of Business
As some brokers find out the hard way, a multitude of HR outsourcing firms/PEOs and payroll providers have no desire to include brokers in their existing partnerships, and actively seek to remove them from their clients.
SynchronyHR instead promotes a collaborative relationship between all parties. And when we say collaborative, we mean it. Our broker partners determine what level of involvement they would like us to have in the relationship, and when to enter the conversation with the client. Better yet, SynchronyHR will never steal away our partners' clients.
Earning Additional Revenue
Looking to boost revenue in 2023? SynchronyHR offers an enriching commission structure that takes into consideration all services and employees. We can even help broker agencies bring on new clients, providing an opportunity to make insurance-based revenue. In fact, one of our broker partners earned over $130,000 in revenue with us in 2022.
Let's Get Started
Are you an insurance broker that is interested in a partnership with SynchronyHR? Get in touch with us today to learn more about becoming a referral partner.