Remember when you used to thumb through actual yellow and white pages of a phonebook to find people and services? In this episode, Toby Mathis of Anderson Advisors talks to Fred Lovingier, District Manager for Insperity, a professional employer organization (PEO). Fred has more than 15 years of management, marketing, and sales experience.
Highlights/Topics:
What is a PEO? Outsourcing firm that provides services to small- and medium-sized businesses
Why work with Insperity? Buying power and outsourcing
Remember when you used to thumb through actual yellow and white pages of a phonebook to find people and services? In this episode, Toby Mathis of Anderson Advisors talks to Fred Lovingier, District Manager for Insperity, a professional employer organization (PEO). Fred has more than 15 years of management, marketing, and sales experience.
Highlights/Topics:
- What is a PEO? Outsourcing firm that provides services to small- and medium-sized businesses
- Why work with Insperity? Buying power and outsourcing
- What are the two main reasons why you should consider a PEO? Stabilize high volatility in healthcare costs and employee liability
- What are business owners’ top concerns? Don’t want to deal with other people
- Does Insperity offer employees access to a group health plan at the same price as other big companies? Yes, just like Walmart, Coca-Cola, and UnitedHealthcare
- What about workers’ comp benefits? Workers’ comp is based on a safety rating or mod number addressed as so much per hundred of payroll
- What’s Insperity’s rule of thumb? Vetted company that becomes a client, automatically reduces its current workers’ comp 10%; dangerous fields costs more money
- Whenever a PEO charges or consumes savings, what happens? Buying power is used to create offsets that help make the cost of doing business tolerable
- What if business owners carry health insurance? Most business people know that they’ll get a new rate, typically higher, every year
- What’s typical misconceptions about who’s liable? It's almost impossible to get a group plan these days; but you can go in combination with a group
- Can people be fired or released? Yes, but they may maintain direction and control of their company and receive onboarding/offboarding assistance
- What's the magic number or sweet spot for a PEO? Groups between five and 5,000
- How much does it cost? Typically, it’s less than the cost of hiring somebody, but the quality is significantly higher
- What is Insperity’s vision and mission? Give people the support and tools they need to grow and help businesses succeed for communities to prosper
- How long do Insperity’s clients stay? On average, clients stay 6.8 years, which represents an 80–85% renewal rate each year
Resources
Fred Lovingier on LinkedIn
Insperity
Fred Simonds's Website
Fred Simonds’s Office: 10845 Griffith Peak Dr., Suite 500, Las Vegas, NV 89135
Fred Simonds’s Phone: 702-470-1948
Fred Simonds’s Mobile Phone: 702-203-0063
Fred Simonds’s Fax: 866-422-1927
Yellow Pages
Family and Medical Leave Act (FMLA)
UnitedHealthcare
Workers’ Comp
COBRA Management
National Association of PEOs
Toby Mathis
Anderson Advisors
Anderson Advisors Tax and Asset Protection Event
Anderson Advisors on YouTube
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