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Payroll Sales Pro Issue #26--New Overtime Rules Create Opportunity
July 18, 2016
July 18, 2016
Employers are fretting the new Overtime Rules, which will go into effect this December. Staying in compliance will be more challenging as they adjust accordingly; you can help your clients navigate these changes—PayPros can help.
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“Change is difficult, but it can be managed when you stay aware of the power of your choices, even if it’s simply your attitude.” ― Michael Thomas Sunnarborg, “The White Box Club Handbook: Simple Tools For Career Transition”
Payroll Talking Points-New Overtime Rules Create Opportunity
Employers are bracing for new Overtime Rules, which will go into effect this December. This is one of the biggest changes in the way employees are compensated in years, and companies whose employees will affected are fretting these changes. We have addressed the basics of these rules in previous Payroll Sales Pro issues, but since this is such a large issue for so many employers, we feel it warrants more coverage from other angles.
In essence, the new federal rule requires overtime pay for all salaried workers who earn less than $47,476 per year, which is more than double the previous threshold for time and a half pay, as well as tighter rules about determining who is a manager or supervisor (which therefore exempts them from having to be paid overtime.
Coupled with this, many states and municipalities have raised the minimum wage, which is squeezing companies and creating more stress for employers.
As you visit various clients, knowing this is on their minds can help you effectively sell payroll. Positioning yourself as a problem-solver and trusted adviser can help you assist your clients with staying in compliance as the new rules take effect.
One of the key features that sets PayPros apart is that each client gets their own dedicated customer service rep, who knows them and their business in great detail. When they have an issue, they can call a specific person and ask questions to clarify anything related to payroll; instead of getting the next person at a call center and having to explain their company’s details again and again (like most companies using the “big boys” of the payroll industry), their customer service rep will already know the ins and outs of their particular situation and will be able to give an informed opinion with all the facts of the company in mind.For example, as we mentioned above, the rules for an employee being classified as a supervisor or manager will be changing—the customer service reps at PayPros are very conversant about the specifics of those rules and many others, and will be able to give your client an informed opinion as to how they should be classified to stay in compliance. Technically, no payroll company assumes legal liability, but they are extremely knowledgeable about the rules governing compliance since they deal with those types of questions every day.
As your clients work through the various changes in classifying employees and related compliance issues, PayPros can help them navigate the new rules and help share the burden of these new regulations. As one of their trusted advisers, you can help your clients be on solid footing when December rolls around.
All it takes to refer payroll is to obtain a payroll invoice from the client, then send it to us and we’ll take it from there. When the client signs up with payroll, you get paid a residual commission for the life of the client.
Remember, PayPros can typically save them 20-25% over what they are currently paying and they will get a dedicated customer service rep that really knows them and the ins and outs of their business.
Ask them for a current invoice, send it to us, and when it closes you get residual commission for the life of the client.
For more detailed payroll Talking Points tips and information, see Payroll Tips and Techniques
Think you’re ready to earn Residual Commission for the life of your clients as a Payroll Referral Rep? Contact us by calling (888) 693-4611 or filling out the form at Best Business Payroll--How to Make Residual Commission
We’ll be glad to answer any questions you may have and look forward to helping you become successful in any way we can.
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