Changing Product Lanes

6568824_l.jpgWe’ve all heard the old adage “A bird in the hand is worth two in the bush”.   As trite as that may sound, it still rings true in business today.  It’s much more cost effective to keep an existing client than it is to replace one.  Statistics vary but according to recent studies, it can cost anywhere between 4-10 times more to replace a client than to keep one. 

In the payroll industry, it’s particularly competitive and clients often bounce between payroll service bureaus (PSBs) based simply on price.  When a client leaves a PSB, that then requires sending out a sales rep to reacquire the client, often at a discount.  Add in the overhead to on board that client again, and the cost quickly adds up.

Historically, payroll companies increased their value proposition by adding new products that eased the administrative burden for the business owner or payroll administrator.  Tax payment services and Direct Deposit were groundbreaking in the 80’s and now are standard services that no company does without. 

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Developing a Corporate Culture that Inspires Employees


Last year, Business Insider shared what it’s really like to work at Google, the ‘world’s most attractive’ employer.[1] From shuttle service with free Wifi to healthy meals, it’s difficult to compete with all the benefits the tech giant in Mountain View offers. The efforts of Google to create a culture that enhances and motivates shows us that employees look forward to working when they know their company has their best interests at heart.

But what tools can you leverage to help develop an inspirational culture in your clients’ business? 

The best part about developing a corporate culture is that it’s more about the heart of a company, and not how much it costs. There are many strategies a company can apply.

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