Imagine a career where you can leverage your existing contacts to provide them with valuable services that they genuinely need—all while earning extra income. Sounds enticing, right?
If you're an industry professional considering a new avenue to expand your services and income, becoming a PEO broker might be the perfect opportunity for you.
In this blog post, we'll discuss how you can become a successful PEO broker, using your current book of business to find potential clients who could benefit from PEO services.
How to Leverage Your Contacts as a PEO Broker
When expanding your services, existing contacts are a great starting point to let you look into how these new services can help them, giving you an opportunity to upsell them. These are businesses that already trust you, value your expertise, and rely on you for various services. When considering expanding into PEO brokering, your current clientele can provide a solid foundation for growing your brokerage portfolio.
Identify the companies within your book of business that could benefit most from PEO services. Look for businesses that are facing HR challenges, compliance issues, or administrative burdens throughout the course of growing their business. These companies likely don’t know what they need to know and would greatly appreciate the support and expertise a PEO can offer.
Once you know who you want to reach out to, it’s time to initiate conversations with these clients to gauge their interests and needs. Ask open-ended questions to better understand their pain points and challenges. This will help you position the PEO services as a tailored solution to their specific problems before offering a consultation or introductory meeting with the PEO to demonstrate how their services can alleviate the identified pain points. This initial interaction can build trust and pave the way for a successful brokerage relationship.
Expand Services and Make Easy Money
One of the most appealing aspects of becoming a PEO broker is the opportunity to expand your services and generate additional income streams. Acting as a PEO broker allows you to offer your clients a broader range of services without having to handle all the complexities yourself. The PEO will do most of the heavy lifting, including payroll, compliance, benefits administration, and more.
However, you must learn some key features of the PEO's offerings to be effective. This will enable you to determine which clients would make good potential candidates for these services. Familiarize yourself with the PEO's strengths, such as their expertise in risk management, HR support, and employee benefits. While they all handle HR processes, PEOs specialize in crucial ways. PEOs, whose clientele is primarily construction and manufacturing companies, focus on workers’ compensation packages, whereas those who focus on office jobs will specialize in healthcare and retirement packages.
By understanding these nuances, you can better match your clients' needs with the PEO's service offerings. This provides value to your clients and positions you as a knowledgeable and trusted advisor, leading to long-term business relationships and recurring revenue.
Thrive as a PEO Broker with TEL
TEL is a quality PEO that equips brokers with the tools and knowledge needed to succeed. With TEL, you gain access to a team of experts ready to support you and your clients throughout the process – who will also guide you through the learning stages of working with a PEO.
TEL provides comprehensive training for brokers, ensuring you understand the intricacies of PEO services and can effectively communicate their benefits to your clients. This training covers everything from compliance and risk management to employee benefits and payroll administration.
Furthermore, TEL offers ongoing support, so you’re never alone. Whether you have questions, need assistance with a client, or require additional resources, TEL is there to help you every step of the way. This support ensures you can confidently grow your brokerage portfolio and provide top-notch service to your clients.
Ready to take the next step? Start exploring the world of PEO brokering with TEL today and discover how to provide even greater value to your clients while growing your business.
