There Are Several Ways To Get Into Worksite Marketing
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More and more employee benefit brokers are contacting me about how to get into the worksite marketing business.
Years of hard work to find the best health insurance rates still result in double-digit rate increases, so even the smallest employers are asking for plan design alternatives that help them manage costs.
The result is renewed emphasis on Section 125 cafeteria plans and voluntary benefits.
As an employee benefit broker, surely youve been reading about the rapid growth in voluntary benefits sales. If you dont find a way to bring them to your clients, someone else probably will.
Of course, the answer to how to enter the worksite market is, "It depends." Are you in the white-collar or blue-collar market? Do you work with small or larger employers? How much control do you want to keep?
On one extreme, if you market to smaller, white-collar businesses, you might be inclined to maintain control and manage your own enrollments.
On the other hand, it probably isnt possible to develop the capacity to do one-on-one enrollments for very large groups on your own. If you contract with a large group, therefore, you will want to contract with a worksite marketing company that has the capacity. Lets look at a few different approaches you could take.
To retain control over the worksite marketing process, one approach would be to hire a worksite marketing specialist into your brokerage firm.
The worksite marketing industry is a mature one, and there are many experienced worksite marketers ready to move up to account opening. They can advise and educate you and others in your firm, and bring you immediate product expertise. If you need limited enrollment capacity, these experts could train two or three people who would be available on an as-needed basis to do your enrollments. For larger accounts, this person will have the contacts to help you contract out the enrollment service.
