News

NAPEO - New Information

NAPEO releases a white paper each year. This year's white paper was recently released with some new information that continues to show how important PEO's are to small to mid sized businesses. In our latest commission email, we included a link to download the white paper as well as some of the useful and important highlights for you to use in future sales presentations.
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We Want You!

Brokers and Agents - Bridgely Key wants to work with you on all your PEO and insurance related needs. We are the #1 Construction PEO Broker in Florida and Florida construction is as hot as it has ever been. If that isn't enough good news, all forecasts indicate this market is going to continue. We have over 300,000 new people moving to Florida annually creating a continued demand for housing and jobs.
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Commission Opportunity

Construction employers are enjoying a strong market but facing stiff competition on multiple fronts and need all the help they can get from a PEO. With unemployment low, they are competing for employees. The best overall employment package will win. This means employers need 401k, health benefits, supplemental benefits, ancillary services, and more. A PEO can provide all those services at rates better than small employers can on their own. In addition to competing for employees, they are also bidding against each other. The company with the lowest costs wins. By leveraging a PEO's workers' comp policy, small employers have an opportunity to reduce their costs and give them access to the quality work comp they need to win the best jobs!
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Building Commission

The construction forecast in Florida is very strong. Given the strong outlook, it's hard to ignore the opportunity! Construction companies make great PEO clients. Most of them are smaller businesses and need the help a PEO can provide. In addition to getting workers' compensation rates they can't get on their own, the services a PEO provides helps these employers attract and retain the employees they so desperately need - health insurance, supplemental insurance, 401k, and more. If you couple these services with the additional insurance products these companies also need (general liability, commercial auto, and more), clients will be loyal and long lasting. Bridgely Key can help you with all this! Give us a call today to learn more.
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Labor Shortage Assistance

While workers compensation rates are low and unemployment is low, business owners are forced to accept lower margins to win bids. They also have to do more and provide greater incentives to attract and retain quality employees from other jobs opportunities (either in the construction industry or attracting new people to the construction industry). Simply offering higher wages isn't a good strategy. By offering health benefits, supplemental benefits, and 401k, an employer will have a better chance of getting the better employees and keeping them. Better employees and A rated workers compensation will result in a great reputation, winning bids, less worry, less micro managing, and greater success. A PEO is the fast track to this results.
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Construction Competition

With workers compensation rates potentially falling, the construction industry will become even more competitive. Construction companies will be looking for the best rates with the best carriers to be able to offer competitive bids and maximize profits. Although there is less premium to negotiate, there are potentially more prospects in these markets as PEO's will still have the cost advantage over traditional policies. Coupled with other ancillary services and constructions companies can get a lot of coverages for a great value.
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Construction CEOs Expect Increases

Construction companies expect increases in revenue this year, partly due to need to create time and cost savings. This translates to a greater need and desire for construction related companies to use a PEO to lower costs and save them money. If the bigger firms are making these changes, then the smaller construction companies need to make these same changes to continue to compete. Couple these changes with the tough labor market and the benefit's a PEO brings its customers in the areas of employee retention and recruitment and it's even more compelling for construction firms to use a PEO.
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Embracing Millennials

There is much discussion about the Millennials in both the political environment as well as in the business environment. Putting politics aside, we all need to find a way to work together. Our economy and small to mid sized businesses as we know them depend on each new workforce transition. This group is large and seemingly complex, but their needs in the workplace can be accommodated once they are understood. Whether the business is high tech or high construction, meeting the expectations of this group is easier when coupled with a PEO. A PEO is the provider of the technology necessary to deliver the HR services expected as well as all the benefits we know a PEO brings - group health, 401k, supplemental benefits, ancillary services, workers compensation discounts, tax administration, and more.
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