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In these uncertain times, are you looking for ways to build new revenue streams and increase your firm’s financial resilience? Employee benefits brokers should consider adding a payroll service. Every business—no matter how small or large—has to pay employees and it is critical they calculate payroll correctly and meet complex compliance requirements. Most small and medium-sized businesses (SMBs) need a partner to help with this essential task, and it’s natural to seek this service from trusted advisors. In fact, Seventy-three percent of organizations outsource some aspect of payroll processing and tax compliance. Employee benefits brokers understand the ins-and-outs of keeping employees satisfied with a creative benefits package while also helping client businesses stay within the benefits budget they can afford. In fact, managing employer-provided health insurance and other benefits involves many of the same challenges as the number one benefit: Payroll. Let’s face it: Your small and midsized business clients are buying payroll and additional HR services from someone. Most business owners would rather deal with one trusted advisor for everything. Why shouldn’t your firm enjoy these additional revenue streams while increasing client engagement? |
