Frank Mayer, Owner and Broker at Cornerstone Group in Michigan, is proud to call his company one of the most technologically advanced insurance firms in the nation. Ten years ago, Frank and his team realized that in order to compete in today’s market, they would have to do more than provide benefits administration. They would need to give clients outstanding customer service, HR support, and easy communication tools for their employees. They would need a software system that could do more. That’s where Zywave and HR Connection come in.
“HRconnection is a fantastic software application that gives us the opportunity to tell a very compelling story to prospects,” Frank says. “Today, about 80-85% of human resources is being bogged down with administrative tasks. If you do not offer solutions and administrative efficiencies to your client, somebody else will–either another broker, a payroll provider, or some silicon valley startup company. HRconnection sets you apart from the guy down the street.”
Cornerstone Group uses HRconnection to both land new accounts and retain their existing clients. When Frank meets with prospects, he gives them his 3-point sales pitch. “We have a 365 day solution for all the challenges that businesses face in HRc, with the easiest and most intuitive user experience to save you time and money. My ‘dream team’ back office is here for you. When you invest in us, we invest back in you. That’s why we’ve partnered with Zywave and implemented HRconnection to better serve you.”
Frank’s team at Cornerstone has a high client retention rate, and that’s due to two factors. One, HRc fosters dependency. It becomes part of the company culture. Employees use it every day for communication, accessing medical information, and making plan choices. Plus, all acknowledgements and plan documentation are stored in HRc electronically, making it impossible for employers to give up. And two, Frank can prove ROI to his clients who use HRc. Because of the no PEPM platform, he estimates that his clients save 150%-200% over other benefits administration software.
Using HRconnection, Frank is able to charge a fee-for-service in some situations. Using this model, Cornerstone Group generates an additional $40,000-$60,000 in revenue each year. Frank has brought in many new clients by showing them the benefits of using HRconnection. Most recently, Frank won a 550 employee, 9 division, 30 location cross-country account. This one account generated $150K in commission. “I’ll be the first to say, I’m not the best salesman in town,” Frank says. “But I’m confident that because of HRconnection I excel at providing year-round HR support that exceeds client expectations and creates exit barriers with my current book.”