When it comes to insurance coverage, many business owners overlook the importance of third-party EPLI (Employment Practices Liability Insurance). In this blog post, we will
5 Ways to Print Money Leading with HR
There are five things that we at Florida Risk Partners do for our clients from an HR perspective. You can be doing them too!
One of the things that we do at Florida Risk Partners is to talk about human resources as quickly as possible when engaging with a new prospect. We do this because the human resource is the most valuable resource for literally every company out there. Even if you’re a sole proprietor, you’re that resource. So, of course, you’re valuable! But often, companies don’t have the tools to manage that resource effectively, leading to many other problems in the organization. Whether turnover, HR-related claims, or lawsuits, it could lead to workers’ compensation issues. So we have partnered with Mineral to provide the solution to those problems.
The Employee Handbook
One of the first things that we talk about is the employee handbook. I love asking this question because almost every company has one. If they don’t, that’s a slam dunk. But if they do, you ask the follow-up question: When was it last updated? If they have a reasonable response, you can ask them: how do you ensure that it’s legally compliant at all times? If they have an answer to that, you can ask them: how much does it cost for you to do this over a year? Because they often never calculate that cost into their total cost of risk, and that’s undoubtedly a portion of it. Even though it’s not insurance-related or safety-related, it’s still a risk to the business and should get factored into the total.
We open the conversation with this because we want to lead them down the path where we can talk about the fact that Mineral has an online handbook that is easy to create and updates in real-time to ensure that their company is always in compliance. It’s a great resource.
Who Ya Gonna Call?
The second question I will ask is, what happens if you have an HR-related issue? Who do you call? You’re a great business, but you don’t have a dedicated HR professional, and you’re probably not the one wanting to answer things. How do you handle that? I ask that question because I know I can get them to pick up the phone and call a 1-800 number where they get a legal person or an HR person from Mineral that will give them the best legally-sound answer to their question. That is an invaluable resource and one that would cost them at least a consultation fee if they had to talk to their attorney about this stuff. You can also ask them how much they’ve spent and add that to the overall cost of risk.
It’s no secret. I’m building a running total to show the prospect the costs. Then, those costs will disappear when they move their insurance relationship to us. The prospect will see they will save that money because we can answer all the issues. We do this with a single product we give our clients for free just for doing business with us.
Another tool that I love with Mineral is the fact we can create an online learning management system. We want to understand how employers hire, how they onboard their employees, and what training they have. We want them to tell us oh, well, we’ve got a training program. We’ve had it for a while. It’s paper-based. It’s in filing cabinets. We want to show them that they can come into the 21st century with us by creating customized learning tracks depending on the job title and description of each of their employees.
But not just that. That information resides online with the date and timestamps for the completion. We also include testing to prove comprehension and retention. It becomes incredible that you can use the transcripts of that and make it part of your submission when it’s ready to go to underwriters to show them what you’re doing to manage these processes. That’s not just a human resource issue. That could also apply to working safely and everything else.
Safety, Safety Safety!
The fourth thing that we want to talk about is we want to talk about safety manuals and safety management. We could also create an online safety manual for them that also updates in real time, gets all those policies and procedures into the same place. We can assign it out to each of the employees and they can click to accept it and show that they’ve read it. Now we have documentation of that as well. How do the process and program look?
The last thing I want to discuss in the HR piece and how we lead is OSHA. OSHA’s a big one. We can talk about OSHA 300 reporting compliance (and how we have a tool for them to do that online. Our interactive tool will help them walk through an injury and determine whether or not it needs to get reported, and then have the ability to report that online directly. But we also can provide some training materials around the top OSHA violations for their industry.
If you can go in and lead with these value ads, it will be a fantastic experience at the point of sale. So many times we want to go in, and we want to be the doctor and to diagnose their problems, but very few agents out there have the treatment plan necessary to fix those problems. We fix our problems by negotiating premium down, but you and I both know that premium has a floor and we can only drive it down to a certain point.
Guess what? Have I talked about coverage one time? Have I spoken about premium one time? No. That’s why we can have these conversations. Business owners and decision-makers are far more comfortable talking about operational things. They deal with these things in the trenches every single day. Don’t be “Johnny One hit Wonder” who shows up, quotes the policy for a year for a low price, and never talks to them again until it’s time for that policy to renew.
If 2023 is your year, if 2023 is the year you want to break out and change how you do business, I have some excellent news for you. We have gotten permission from Mineral to offer you exceptional pricing due to your affiliation with the Killing Commercial Community, the Power Producers Podcast, and Carpool Closer. This guy’s got so much content I can’t even name it all. But if you heard about this from there, you can save. Look down here. There’s a button you can click. It will take you to our landing page, and on that landing page, we will show you the deep discount we’ve been able to negotiate. Use the form on our landing page. If you want a demo, use that form to sign up because that’s the only way you’re going to get that discount.
I promise you, people, we’ve got testimonials from Killing Commercial agents using Mineral right now and winning and winning big. Click that button down there, check out the page we’ve built out with the testimonials, our experiences and most importantly, the form that you can fill out to get that discount. Don’t be fooled if you think I’m the only one doing it. Your competition will if you’re not willing to.
We all have choices, as do our clients and prospects. Having deep roots in customer service, I am still a student of the game at
I hear it all the time, “David, I just don’t believe there are people on every corner waiting to hand out their business to you