NAPEO
June/July 2024
THIS MONTH'S FOCUS: Finance and Profitability
NEVER SAY NEVER: DAVE & TERESA LAWRENCE AND DELTA ADMINISTRATIVE SERVICES
Dave Lawrence grew up insisting he would never join the family business. He wasn’t interested. It wasn’t for him. After graduating from college with an economics and business degree, he found a sales job with a Connecticut-based company. The company sold awards programs, and Dave ran the Gulf South region out of his native New Orleans. Not much later, Dave and his wife Teresa married. The young couple both had solid, good paying sales jobs they each loved. Life was on the right track.
BY Chris Chaney
June/July 2024CONTENTS
FEATURED
UNLOCKING HIDDEN VALUE: PEOS CAN BENEFIT FROM SUSTAINABILITY REPORTING
PEOs that adopt strong corporate sustainability initiatives as part of their business model have incredible opportunities for increased sales and corporate value.
BY Jason F. Clausen, CPA
June/July 2024
KPIs for ACCOUNTING DEPARTMENTS
What key performance indicators (KPIs) determine the success or failure of a PEO’s accounting department? Timely and accurate numbers are definitely at the forefront. The PEO space can be a dynamic environment to operate in. The risk and margins are ever-changing and keeping our finger on the pulse is imperative to our success.
BY Jenny Smith
June/July 2024
MONETARY CROSSROADS: HOW A PEO FINANCE DEPARTMENT FITS IN THE PEO SALES CYCLE
In summary, the symbiotic relationship between sales and finance is the backbone of organizational success. Alignment between sales and finance is crucial to any organization but as outlined above, is heightened in the PEO environment.
BY Jean Goldstein
June/July 2024
OPTIMIZING PROFITABILITY BY MITIGATING CLAIMS COST AND CLAIM EXPOSURE
In summary, control of a PEO’s workers’ compensation cost, and overall profitability of a PEO company’s operations hinges on astute management of critical areas such as claims administration, subrogation, SIU, risk management programs and nurse case management.
BY David Brodsky
June/July 2024
LESSONS LEARNED FROM ACTUARIAL DUE DILIGENCE
When I’m performing due diligence on a target company, especially in the PEO space, there are common areas that sellers miss. Below are the top five most missed opportunities for sellers, counting down to the most commonly missed opportunity.
BY Frank Huang
June/July 2024TRACKS
“The intricacies of managing payroll across multiple domestic jurisdictions, particularly in the era of remote work, present unique challenges that demand a strategic approach. ”
BY Steve Politis
June/July 2024MICHAELINE DOYLE: A WORKHORSE SPIRIT
If you’re in the PEO industry, you know there is no greater honor than winning the Michaeline A. Doyle Award. Created in 1995, it’s an accolade bestowed upon someone who has provided exemplary leadership and service to NAPEO and our industry and whose business philosophy is to improve the industry while simultaneously improving his or …
BY Evan Fallor
June/July 2024DEPLOYING TEST AUTOMATION TO TRANSFORM CUSTOMER EXPERIENCE
Insurance, healthcare and employee benefits have common business drivers that mandate the need for test automation. Each of these industries are data intensive and often include personally identifiable information (PII), payment card industry (PCI) or protected health information (PHI) compliance. There is no room for manual errors. While that alone may be sufficient to justify …
BY Frank Bianchi
June/July 2024
“The energy and enthusiasm for engaging in representative government was encouraging and inspiring.”
BY Casey M. Clark
June/July 2024REVERSE ENGINEER THE SALES AND MARKETING PROCESS TO DRIVE MARKETING ROI
The ultimate objective of every marketer is to produce a meaningful and measurable ROI. Unfortunately, having that objective and actually achieving that objective are two very different things. As with any goal and objective, there are three key elements to success – a strategy, a plan, and disciplined execution. But keeping your fingers crossed isn’t …
BY Dean Moothart
June/July 2024HOW A RETIREMENT PLAN CAN POSITIVELY AFFECT CUSTOMER LIFETIME VALUE
Of all the business-enhancing services PEOs offer, one is sometimes overlooked, or seen as an overhead expense to be avoided, but never should be. A quality retirement plan can add great value for both the employer and the PEO supporting them.
BY Chris Miller
June/July 2024