Some people in the industry call it “big game hunting.” Or theymight refer to it as “reeling in a big one.”

No matter what it's called, selling a benefits package to alarge employer isn't as easy as it sounds. Developing a businessaround big clients can be time consuming, labor intensive and costreal money. And once the client is signed up, brokers have tocontinue working closely with them to make sure they stay clients.Remember, there are other brokers out there looking to gainbusiness from large employers, too. It can be hard on industryrookies. Sales can take years to complete. Sacrifices will have tobe made.

But big clients are worth pursuing even beyond the commissions.Brokers will develop a relationship with an organization and becalled on to help make important decisions that affectprofitability or solvency. The broker is a key person in anemployer's ability to obtain and retain talented employees. Brokerswill advise officials at the highest levels. They'll be consideredexperts on regulatory matters and cost reduction.

There's no standard for how many employees constitute a largeemployer, but generally, an employer of 500 or more falls into thecategory. And they don't always have to be Fortune 500companies, either. Universities, governmental entities and evenunions are all in the marketplace for benefits packages—and eachhave their own set of challenges. And that's where opportunitylies.

In today's uncertain economic landscape, there are ways to get theseclients. Some are tried and true, but others require brokers to getcreative.

“I think we all need to think outside the box,” says TomStautberg of the Cincinnati-based Stautberg Benefits Advisors. “Butsometimes we need to challenge ourselves to throw that box away.Challenge ourselves to look for solutions in different ways.”

Do the research

In any large organization, there's most likely going to be acommittee of people making the decision on benefits packages.Industry veterans say these committees usually consist of the chieffinancial officer, the head of human resources and the person incharge of risk management. If a union is involved, expect arepresentative and maybe a little confrontation. Some organizationswill appoint employee representatives. There may even be someelected officials on the committee. 

Michael McIntyre, author of The Authentic Salesman: Mastering the Art of Transforming RealObjections into Real Transactions and CEO of Dallas-basedBenefits America, says brokers have the ability to identifydecision makers on the Internet with ease.

“You've got to do your research,” McIntyre says. “You've got tofind out everything about the company. You have to find the HRperson. And with the Internet, it's easy. You just have to spendthe time.”

Also, brokers in areas where businesses are migrating such asGeorgia, Texas and Colorado can still depend on traditional formsof media such as newspapers and business journals for new prospectsmoving to town.

Look for an 'in'

When new products become available, pitch them to clients. Manyemployers are looking to offer new benefits to the employers in theinterest of keeping talented employees. A broker can offer thosebenefits and win a small portion of a client's business—enablingbrokers to develop relationships that can bear fruit down theroad.

And, small employers have the ability to become large employers.Industry veterans say brokers should sign some smaller clients andposition themselves to grow along with the company. Loyalty stillcounts.

Develop relationships

Many brokers still develop contacts with clients the old schoolways: handing out cards, attending chamber of commerce functionsand getting referrals.

But are brokers on the look-out for prospects at their church ortheir kid's Little League games? McIntyre says all brokers shouldbe looking to develop relationships in all places, even in onesthat may not seem so obvious.

One broker who's doing that is Keith Tallmadge of Millennium Benefits Consulting inSandy Springs, Ga. Tallmadge has a program in which employees ontarget to meet their sales objectives can take a day to volunteerin their community—with pay. The practice increases the visibilityof Tallmadge's employees in community, and helps them meetpotential clients.

“Our people meet other people from companies and we developrelationships from there,” Tallmadge says. “Some times our guys areworking alongside the CFO from a large company.”

Be a consultant

Brokers need to present themselves as people with solutions.When the market changes, be the first broker to approach largeemployers with solutions to their new business challenges. The morebrokers present themselves as problem solvers, the more likely theyare sign up new clients.

Also, find out if the benefits packages line up with theemployer's goals. Most successful brokers say if an adviser and alarge employer have similar strategies and philosophies on benefitspackages, the deal can actually come as an afterthought. It'll takesome research, but it's worthwhile.

“We look at the size of the employee workforce, how complex thegroup is and what are their philosophies on benefits,” Tallmadgesays. “Are they different from us? If they are, I'm beating my headup against the wall.”

Help the bottom line

Some brokers are now locking in rates for up to four years. Thepractice is a benefit to employers because it allows them to budgetcosts a few years out with accuracy. Most employers strugglebudgeting health care costs, but not if you lock down therates.

Stautberg is a pioneer in this tactic.

“We allow them to stabilize their health costs for three years,”says Stautberg. “We're one of three in the country that have theability to do this.”

Stautberg also has experimented with other ways to help clientskeep costs low. Tele-medicine was a new thing in the industry fiveyears ago. Today, he helps clients by offering packages thatinclude Stat Doctors—acompany that provides 24-hour access to emergency room doctors whocan diagnose non-emergency ailments for employees over theInternet. The service allows employees to determine whether theyneed to visit an emergency room, which could save employers thousandsof dollars.

“It's all about managing trend,” Stautberg says. “It's aboutmanaging claims dollars.”

Make it easy

A lot of times, brokers can snag a client by doing the gruntwork. It's not unheard of for brokers to handle enrollment forms,open enrollment periods and other functions previously handledby an organization's human resources department. Decision makerswant to make sure the transition will go smoothly and make sure apile of new work isn't generated by their decision.

“We got a 3,000-person company because their currentrelationship at the time wouldn't help them with the paperwork,”Tallmadge says. “We put two people in the system and they did entryfor two weeks during the open enrollment period.”

McIntyre put it more bluntly: “If you can't get a third-graderto do it, that needs to be fixed.”

Communicate effectively

Sometimes, in an effort to save on costs, an employer willinstitute a wellness plan. Or, employers will have to make a change inbenefits plans that won't exactly excite a majority of theiremployees. Stautberg says brokers who demonstrate the ability tocommunicate with employees effectively will get more clients.

“It's a partnership,” Stautberg says. “It's working with theemployer, the employee, the insurance company and their adviser.It's making sure we're listening to the needs that they have andcommunicating to them and their employees what it is they want todo.”

Prepare to sacrifice

More and more brokers need to demonstrate a willingness to setaside traditional forms of compensation. That could mean givingup commissions all together and moving toward consulting fees.And in today's economy, clients will ask brokers how they'recompensated. Answers to those critical questions can make adifference. Industry veterans will say that a little transparencydoesn't hurt.

Sacrifice also could filter over into client retention, too. Afew years ago when the economy really tanked, Tallmadge gave hiscustomers a break on their rates. For some clients it didn't amountto a lot of money, but the effort meant something to them. And thatkind of action manages to get spread around the prospectiveclients.

Work on you

It's always important to be learning new things. McIntyre likesto point out how doctors make about $180,000 a year but they haveto continue their education every year. Salaries for top salesmancan reach $240,000. But, McIntyre asks, how many salesmen continueto learn their craft? Not many.

“What sales people should do is attend seminars, go to trainingsand read some books,” McIntyre says. “Hone your craft. And takingshort cuts is really death to a salesman.”

Know the law

There's a lot of speculation on how the Patient Protection andAffordable Care Act will affect the business, so brokers need tofocus on how it will affect their clients. Keeping clients can beas important getting new clients in a time of economic instability.Stay abreast of the changes and talk them over with yourclients.

Some industry veterans think small clients will not purchasebenefits packages from brokers after the exchanges are started.Others think the business will adopt and move forward.

McIntrye's advice is to plan on the law taking effect and usecreativity to stay afloat and even prosper. Asked what it will takefor brokers to survive in the uncertain years ahead, McIntyre saysto look at it as a time of opportunity. And if that doesn't work,just have a little perseverance. 

Nathan is a Denver-area writer. He can be reached [email protected].