In their joint presentation to conference attendees on "How Non-Traditional Benefits Can Increase Your Income and Help Make Employees Happy", Elizabeth Halkos and Steve Farish pointed out that with a declining GDP, increasing unemployment, failing financial institutions and the subprime mortgage crisis, today’s market is affecting many businesses, including yours. But there are ways to adapt and overcome the market challenges and continue to thrive. By adjusting your plans, you can accommodate lasting, positive changes to your business model.
4. The World Economy
Increasing
Declining GDP Unemployment
Subprime Failing Financial
Mortgage Crisis Institutions
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5. The Market’s Impact on You
• Have your priorities changed?
• If so, what are you doing to address them?
• How have your clients’ priorities changed?
• How are you planning to accommodate for
lasting changes to your business?
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6. Employers
• Companies under
stress and in trouble
• Need to cut costs
• Increasing healthcare
costs
• Boost morale and
performance of
employees
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7. Consumers are on Defense
• Jobless rate is 9.7
percent
• 119 million are credit
challenged
• Cautious consumerism
• 15-20% of employees
have financial problems
severe enough to
negatively affect
productivity
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11. The Ultimate Goal
“Anything companies
can do to reduce that
stress level for
employees is
something you
have to look at.”
- The Wall Street Journal
March 18, 2009
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12. Why Voluntary Benefits?
Demand from Your Clients
• Increased healthcare costs and its impact on
your clients
• The need to offer a competitive benefits
package in today’s environment
• Seeking easy to implement and low-cost
benefits
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13. Purchasing Power:
A Winning Record
• Helped bridge the
digital divide
• Promotes financial
wellness
• Creates opportunity for
brokers to recognize
and meet a need
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21. The Market’s Impact on You
• Have your priorities changed?
• How have your clients’ priorities changed?
• How are you planning to accommodate for
lasting changes to your business?
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22. Your Playbook is Changing
• Staying competitive as a broker
• Changing commission
structures
• Offering innovative products to
meet the diverse needs of your
clients
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23. Case Studies
• Healthcare Case Study
• School System Case
Study
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