Paychex PEO & Internal Partners
What channels does SMB own?
CPA's
What is a broker?
Someone licensed to offer benefits or commercial insurance lines to prospects and clients
How many EUP's do we need to self gen per week?
3
Two technology platforms available?
Prism and Flex
How often do broker records need activity to stay in your name?
90 days - every 30 days is a best practice
Broker meeting expectation per week?
3
Two master carriers and their renewal dates?
BCBS and Aetna. 1/1 and 10/1
How much do we pay brokers for referrals?
20% of the payroll only cost - not the total invoice charges
What is the weekly dial expectation in conquer voice?
200
PEO and MMS get inbound leads from 20-99 employees and jointly work with the client to execute a streamlined sales process.
Broker Channel Tracker Exercise
Share screen and template from Eric
How many drops does it take to get 1 EUP?
10
Name four internal revenue streams we can refer out for prospects and clients.
- H&B
- 401K (Not on HRPRO package)
- Merchant Services
- Workers Compensation Insurance
What are 4 benefits to signing a broker agreement with Paychex?
- protect their book of business
- additional revenue stream for current clients and prospects to their agency
- Offer their clients more efficiency by streamlining their processes such as benefits enrollments (flock), invoice reconciliation, etc.
- Offering their clients top tier technology as an add on to their product lines
Comp Calculator Exercise
Using the comp calculator tell us how much commission you would make this year if you sold 400K on a $306,000.00 quota ($33,333.33 a month - no ramp quota)