Comparison

Articles

Balancing Sales and Client Retention  July 31, 2018

Renee Conner and Jill Dennis

Ask any business owner to choose what’s more important; existing client retention or new sales, and you’ll find the answer is both. Sales and retention are equally important. Of course, sales teams will argue that new business is more important, and operations teams will argue that retention is key; but the truth is that both are essential to the operation of a well-run company.

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Sales E"fish"ency  May 31, 2018

Renee Conner, CEO

At a recent conference, I heard TPA firm owners and managers lamenting the fact that, though they were adding plans at their normal rate, they were terminating/losing the same number or more. Their concern was that, overall, the number of retirement plans was decreasing and they attributed this decline to their net zero growth. But is this assumption true? The filing levels show that net growth of 5500 filings has been steadily increasing since 2011. So, why are so many firms “stuck in the mud”?

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The Secret Sauce of Data Security  March 29, 2018

Darren Conner, CTO

Nothing is ever truly safe. That is the uncomfortable truth about our world and certainly, connected information systems. It’s uncomfortable to think, and hard to accept, but it is true. Now that we have acknowledged that, we can talk about what real security is and how you achieve it.

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Measuring TPA Success  January 31, 2018

Amanda Iverson, Pinnacle Plan Design, LLC

While each person’s definition of success will be different, three vital elements of our TPA success tend to remain consistent: our clients, employees, and our profits. As small business owners, we tend to wear a lot of hats. We get so busy working in our business that we do not adequately work on our business. So, given how busy we are, what steps should we take when time allows us to wear our CEO hat?

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Ignorance is Not Bliss  November 30, 2017

Renee Conner, CEO

As a TPA, you know that shortly 92% of all plans that file with the DOL will transmit highly sensitive data to an administrative or actuarial service organization. the information that continuously changes hands in the next few months will represent the personally identifiable information, or PII, in approximately 300 million data records. Does this represent a significant opportunity for a data breach? YES. Can you trust your employees with the secure handling of PII?

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When Disaster Strikes  October 31, 2017

Darren Conner, Chief Technology Officer

Nearly half of the companies included in a 2017 survey by Intel have no public or hybrid cloud infrastructure. The survey participants rely on locally run infrastructure, and in many cases, locally run backups. If you aren’t familiar with cloud storage or have fears about its security, then you are ignoring technologies that could save not only your data but your livelihood.

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iWork: The Millennial Workforce  September 28, 2017

Katie Boyer, Director of Client Engagement

“I would never hire a millennial.” While the sentiment may be popular in some TPA leadership circles, these are dangerous words. The TPA industry needs to hire the next generation of workers to keep businesses thriving. Currently the largest demographic group in the country, millennials are coming into the workforce at a time when other generations have plateaued or are declining. So, why should a millennial make it to the top of your candidate list?

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Selling: An Acquired Taste  August 31, 2017

Renee Conner, CEO

An acquisition from either perspective can be a tricky business. Research shows that nearly 50% of all acquisitions fail for reasons that you would expect: valuation of the company acquired was too high, a cultural mismatch between the acquired and the acquirer (very common when a large business acquires a small business), or even a lack of understanding of what the true value drivers are of the acquired firm. So, how can small business owners navigate what will certainly be a difficult and emotional process?

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Make Any Mission Possible    July 26, 2017

Renee Conner, CEO

Your business’s changing processes can include anything from selecting a new compliance provider, to moving to the cloud or going paperless, and, yes, even implementing a workflow system. What enables a firm to successfully implement a change? The answer may surprise you.

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Onboarding    June 29, 2017

Renee Conner, PensionPro CEO

With new customers comes new servicing logistics. As a TPA, I remember the challenges that followed rapid growth; onboarding was the most difficult transition to make from an organizational view point. How does one balance great customer service with consistent or even aggressive growth? The answer is this: by developing a successful onboarding process. 

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Growing Pains    May 24, 2017

Renee Conner, PensionPro CEO

Growth is something every business dreams of, but sometimes as the business expands the foundation lacks the support necessary to hold additional weight. Where does Human Capital Management (HCM) tie into growth? Though HCM is a broad practice term used by many large corporations, it is very applicable to our retirement plan servicing community.

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Cyber Attacks: How to Limit Your Exposure    April 19, 2017

Darren Conner, PensionPro CTO

If you follow the news, it is difficult to not be aware of the dangers that exist for your electronic information. These days news of a breach of sensitive information is a regular occurrence and many are left feeling helpless to combat cyber predators. However, there are some steps you can take and some good security practices that you should be aware of that can help prevent your company from falling victim to a cyber-attack.

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