A Professional Employer Organization (PEO) is a firm that allows small and medium-sized companies to outsource most of their HR management responsibilities. PEOs deliver cost-effective, outsourced services for HR, payroll, benefits, and risk management. This allows owners and managers to focus on growing their business, not managing HR.
On this episode, my guest, Steven Frey, National Sales Manager at The Extensis Group, will share about the ways that PEO's can benefit small and mid-sized businesses, in the context of the COVID-19 pandemic. Business owners, tune in for this engaging and beneficial discussion!
Tune in for this informative conversation at TalkRadio.nyc or watch the Facebook Livestream by clicking here.
Eric introduces the guest of the show, fellow TalkRadioNYC host, Steven Frey! They begin the conversation with Steven discussing the differences between the business models PEO and HRO. The conversation then sways between recruitment, employee-oriented organizations, and the dynamics of running a small/mid-sized business.
Eric talks about the importance of knowing employment law as an employer before inquiring Steven about what employers should consider when choosing between a PEO and HRO. Steven further differentiates between the two, asking questions that pertain to how an employer wants to run their business in respect to their employees.
The conversation continues with the two discussing HR services and culture, consulting and administration, negotiating group benefits, employee-employer relationships, and building employee retirement plans.
Eric gives Steven the floor to talk about Extensis, delving into business-client relationships and continuing his perspectives on PEO’s, and to inform listeners about his TalkRadioNYC show, Always Freyday.
00:00:32.670 --> 00:00:40.590 Eric Sarver, Esq.: Good evening. Welcome to Liam slime a lot today. I'm Eric solder from the law office that are against cyber I'm the host of the show.
00:00:41.010 --> 00:00:51.990 Eric Sarver, Esq.: We meet here each week on talk radio NYC with special guests to talk about three main topics for businesses and we have three main goals for business owners listening tonight.
00:00:52.680 --> 00:01:01.380 Eric Sarver, Esq.: So the main topic of our show is employment law all the rules and regulations and aspects of it that you as a business owner
00:01:01.770 --> 00:01:13.260 Eric Sarver, Esq.: Or to be up to speed on the following, but particularly these days in times of dependent MC epidemic has created new regulations, new rules and it's also impacted how
00:01:13.770 --> 00:01:21.240 Eric Sarver, Esq.: previously existing employment laws impact business owners today. So with that in mind, our show seeks to inform
00:01:21.870 --> 00:01:33.420 Eric Sarver, Esq.: educate our listeners. We also want to inspire you all by having guests who are professional services that can help your business with issues such as financial
00:01:33.870 --> 00:01:41.310 Eric Sarver, Esq.: counseling or accounting HR consulting or cyber security and also be tied back to employment law as well.
00:01:41.910 --> 00:01:50.190 Eric Sarver, Esq.: And lastly, our show is one of our hopes has to be a motivating factor because during these times, we all know it can be very rough to keep ones.
00:01:50.760 --> 00:02:01.920 Eric Sarver, Esq.: Excitement and ones motivation going. So we have guests on the show, who are inspirational in terms of having their business thriving during these difficult times depend on it.
00:02:02.850 --> 00:02:12.330 Eric Sarver, Esq.: So with that backdrop about employment law today I'd like to welcome our guest tonight. He's a fellow host of his own show on talk radio NYC.
00:02:12.930 --> 00:02:26.820 Eric Sarver, Esq.: He's also a renaissance man I've gotten to know recently as a colleague and friend, with numerous talents and his name is Stephen Fry, I'm going to read a little bit of an intro about him. But first I want to just say happy, Steve. Welcome to the show.
00:02:27.720 --> 00:02:29.640 Steven Frey (SMB Guy): Great to see you, Eric. Thank you for having me on.
00:02:30.300 --> 00:02:35.790 Eric Sarver, Esq.: My pleasure. So, if I may just introduce you to our guests and of course feel free to add whatever you'd like.
00:02:36.600 --> 00:02:45.930 Eric Sarver, Esq.: As I mentioned, folks. My guest tonight is Stephen Fry Stephen is the national sales manager at extensive screwed a dedicated HR and payroll outsourcing solution.
00:02:46.560 --> 00:02:59.310 Eric Sarver, Esq.: An extensive specializes in custom tailored workforce solutions for small and medium sized businesses, including personalized services for HR benefits payroll taxes employer.
00:02:59.820 --> 00:03:05.160 Eric Sarver, Esq.: Employee management recruiting compliance and leading HR is technology.
00:03:05.850 --> 00:03:21.750 Eric Sarver, Esq.: And as a small medium sized business, also known as SMB consultants to thousands of organizations and the trusted advisors over the past few decades, Steve brings a unique perspective on people process and products, the three P's for today's as to be leaders.
00:03:22.890 --> 00:03:33.150 Eric Sarver, Esq.: In addition, Steve holds the securities and insurance licenses, which can be very helpful and communicating the appropriate messages between business owners their staff and then their trusted advisors.
00:03:33.690 --> 00:03:44.280 Eric Sarver, Esq.: Finally, Stephen is, as I mentioned, a fellow podcaster here on talk radio dot NYC. If you're looking to end the week there it is on always Friday with Stephen Fry your SMB guy.
00:03:44.670 --> 00:03:48.270 Eric Sarver, Esq.: So if you're looking to and I read the rest of that from weekend insight to Monday. In fact,
00:03:48.840 --> 00:03:56.820 Eric Sarver, Esq.: If you're looking to end your week with some relevant business discussion in preparation for a great week ahead. And you're listening for always for up Friday with Stephen Fry
00:03:57.300 --> 00:04:00.420 Eric Sarver, Esq.: So you can count on Steve for an informative entertaining show
00:04:00.840 --> 00:04:17.310 Eric Sarver, Esq.: Dedicated to harnessing creative solutions to the issues that small and medium sized businesses wrestle with in 2020 and beyond. And I will attest to that point, having been a guest on Stephen show not too long ago, Steve. Once again, welcome to the show. Good to have you on today.
00:04:18.210 --> 00:04:25.710 Steven Frey (SMB Guy): It's great to be here. Thank you for having me. And I would say I feel the freedom of the weekend coming, but let's call it the freedom of the evening, remember it's always Friday with me.
00:04:26.520 --> 00:04:35.550 Eric Sarver, Esq.: That's right now. Okay, there you go. That's it. Good. The benefit of being with Stevens from always Friday. Yes. So Stephen I discuss the topic of relevant today, I
00:04:35.910 --> 00:04:49.140 Eric Sarver, Esq.: had thought about the topic of IPOs and the pandemic and decided on a sort of a change of that topic a bit or magnifying and Vince talk about pod and each role models.
00:04:49.500 --> 00:05:00.780 Eric Sarver, Esq.: For businesses mean the Stevens and talk about the differences between a PPO, of course, the professional employment organization, an HR Human Resources outsourcing.
00:05:01.410 --> 00:05:13.980 Eric Sarver, Esq.: Model and how that might apply to different businesses and we'll also talk about Stevens own philosophy and the philosophy of expenses and how they distinguish themselves in focusing on on people.
00:05:14.640 --> 00:05:22.650 Eric Sarver, Esq.: And process and products, rather than just commodities or seeing this all from a product based perspective so
00:05:23.880 --> 00:05:35.460 Eric Sarver, Esq.: With that segue. I want to ask you, maybe my first question for the evening for us to talk about. Can you tell us the difference between the PTO and eternal model for businesses.
00:05:36.630 --> 00:05:45.210 Steven Frey (SMB Guy): Yeah, sure. So you know P O stands for professional employer organization and you know it's a term that gets passed around sounds like a bunch of Alphabet Soup and
00:05:45.570 --> 00:05:57.870 Steven Frey (SMB Guy): Really it's an all encompassing Human Resources outsourcing solution. The way that I relate PEO is my father is a retired New York City Board of Ed teacher, and he was part of a Union.
00:05:58.440 --> 00:06:02.520 Steven Frey (SMB Guy): And my wife, she's actually an attorney as well. So, you're in good company.
00:06:03.210 --> 00:06:09.930 Steven Frey (SMB Guy): She's a deputy in the attorney general's office for the state of New Jersey. She belongs to a union. So when you belong to a union.
00:06:10.260 --> 00:06:20.730 Steven Frey (SMB Guy): You know, they tend to handle a lot of the administrative burden on behalf of the professionals in the Union, so that the professionals can really focus on their passion and focus on what they're doing.
00:06:21.540 --> 00:06:30.990 Steven Frey (SMB Guy): And, you know, again, when you have that many folks as part of a collective group of people, it does give you some economies of scale. Some bargaining power with
00:06:31.230 --> 00:06:37.290 Steven Frey (SMB Guy): Trying to get certain employee benefits in place and maybe certain perks for the folks as part of the pool.
00:06:37.530 --> 00:06:45.480 Steven Frey (SMB Guy): You know, it just, it gives everybody a collective purpose and, you know, seeking a common goal again so that folks can focus on their passion and focus on their job.
00:06:45.750 --> 00:06:54.150 Steven Frey (SMB Guy): While having a lot of the administrative burden and Benefits Administration and, you know, things that are revolve around risk and compliance, you know, handled on their behalf.
00:06:54.810 --> 00:07:02.640 Steven Frey (SMB Guy): A PEO is a very similar concept in that small and medium sized businesses don't always have the fortunate circumstances where they can
00:07:03.180 --> 00:07:11.520 Steven Frey (SMB Guy): Be part of a union or an association to do a lot of things on their behalf so they can focus on the reasons they became an SMB in the first place.
00:07:12.150 --> 00:07:23.070 Steven Frey (SMB Guy): So a PEO you know gives those types of folks, the ability to you know kind of become part of a group of employees again to realize some of those economies of scale.
00:07:23.370 --> 00:07:34.290 Steven Frey (SMB Guy): And you know offload some of the administrative burden tasks that you know tend to get employers and their senior leaders working in the business as opposed to on the business.
00:07:34.620 --> 00:07:45.660 Steven Frey (SMB Guy): So differentiating the, the major types of Human Resources outsourcing models again talking about PEO kind of like almost like creating a union for small to medium sized business. Yeah.
00:07:46.080 --> 00:07:48.780 Steven Frey (SMB Guy): In order to be accepted into that type of community.
00:07:49.110 --> 00:07:59.280 Steven Frey (SMB Guy): It comes with, you know, levels of underwriting, you know, like, just like you would get a life insurance policy or a mortgage for your home, you know, not everybody's situation looks exactly the same.
00:07:59.610 --> 00:08:13.980 Steven Frey (SMB Guy): Every business out there has a particular set of circumstances. So, you know, the CEO, you have to be accepted into that community. So it's almost like you know the CEO or the vendor and question the service model. They're bringing you into their world.
00:08:15.300 --> 00:08:24.090 Steven Frey (SMB Guy): So yeah, again, that comes with certain levels of is it the right fit. A lot of times, you know, coming into the the professional employer world.
00:08:24.390 --> 00:08:32.760 Steven Frey (SMB Guy): Or organization world. Yeah, you tend to think of what's a good fit there figure you know roughly 200 employees.
00:08:33.570 --> 00:08:39.180 Steven Frey (SMB Guy): White Collar low risk types of businesses favorable. Demographics
00:08:40.020 --> 00:08:43.170 Steven Frey (SMB Guy): You know, nobody's sick with terminal illnesses. You know nothing.
00:08:43.470 --> 00:08:50.700 Steven Frey (SMB Guy): Unexpected under the hood like basically something that squeaky clean the same way that you would go to apply for life insurance, you know, you want to get
00:08:50.970 --> 00:09:01.260 Steven Frey (SMB Guy): The best rating and the best types of pricing for it or go for a mortgage. You want to have an ideal credit score to get, you know, the most favorable rate in terms on the mortgage, you know, for your home.
00:09:01.650 --> 00:09:11.610 Steven Frey (SMB Guy): It's a very similar type of concept where you get put through and underwriting process to make sure you're a good fit. And the reason for that is because, again, you're becoming part of a pool of employees so
00:09:11.880 --> 00:09:14.940 Steven Frey (SMB Guy): The CEO wants to make sure that, you know, you're good.
00:09:15.540 --> 00:09:30.120 Steven Frey (SMB Guy): Okay. And a lot of that underwriting revolves around the risk side of things is the industry, you know, if it's a trucking industry or construction or general contracting HBA see those can be more labor intensive and carry with them certain
00:09:30.810 --> 00:09:37.590 Steven Frey (SMB Guy): Workers comp comp types of exposures and other types of risky. You know, you know, types of issues need significant safety and loss of control.
00:09:38.040 --> 00:09:45.780 Steven Frey (SMB Guy): You know, and then there's also the underwriting piece that revolves around the health benefits a big attractive point of PEO solutions is
00:09:46.170 --> 00:09:51.930 Steven Frey (SMB Guy): You know, to achieve economies of scale and receive comprehensive health insurance at a lower cost.
00:09:52.470 --> 00:10:05.160 Steven Frey (SMB Guy): While that's very often a door opener for the P O conversation. It's very rarely why people actually move forward with it and it's and it's definitely rare that that's why they stay with a particular solution.
00:10:05.520 --> 00:10:16.590 Steven Frey (SMB Guy): And it kind of goes to my my thought process around the idea of I like to be conscious of products and know how to navigate. You know, the world of products ever changing products technologies apps, etc.
00:10:16.980 --> 00:10:22.200 Steven Frey (SMB Guy): So that there's no substitute for for kind of knowing the right people and having the right process so
00:10:22.500 --> 00:10:31.140 Steven Frey (SMB Guy): You know, a lot of times what opens the door, you know, traditionally for P. O. Types of discussions and it might not necessarily be the ultimate reason that it's a long term solution.
00:10:31.740 --> 00:10:40.890 Steven Frey (SMB Guy): So with that in mind, differentiating as you had asked, you know, a human resources outsourcing solution and HR or an Administrative Service option and so
00:10:41.340 --> 00:10:41.730 Eric Sarver, Esq.: The main
00:10:41.760 --> 00:10:44.520 Steven Frey (SMB Guy): You know difference between, you know, the two types of
00:10:44.970 --> 00:10:58.920 Steven Frey (SMB Guy): Types of solutions is, you know, on the PEO you're under what's referred to as a co employment arrangement, meaning that the the PEO is they act as the employee record, they'll do tax reporting on their federal tax ID number.
00:10:59.370 --> 00:11:06.420 Steven Frey (SMB Guy): And things like that with it with an HR type of option or an A. So Administrative Service option you know type of offering
00:11:06.990 --> 00:11:15.720 Steven Frey (SMB Guy): The client that's utilizing the services they remain the employer of record, but they still get, you know, some comprehensive services again revolving around
00:11:15.990 --> 00:11:26.100 Steven Frey (SMB Guy): Human Resources side of things, the group benefits consulting and administration side of things, risk and compliance work from both state and federal level, as you know you in the in the legal field.
00:11:26.460 --> 00:11:27.570 Steven Frey (SMB Guy): You know well realize
00:11:27.570 --> 00:11:34.260 Steven Frey (SMB Guy): Sometimes state law can supersede federal law. So, you know, depending on which state you're doing business in the room might be a little bit different.
00:11:34.740 --> 00:11:47.790 Steven Frey (SMB Guy): And then, you know, going into things like Human Resources Information System technology. Again, I kind of keep product. And in general, towards the end. It's all about the people first REALLY THAT'S WHAT I DO IT extensive we do provide
00:11:48.330 --> 00:12:02.520 Steven Frey (SMB Guy): Not only a PEO solution for the past 23 years we do also have an HR row solution one that you know can accommodate folks without really any sort of underwriting. Think of it as P O is us, bringing them into our world.
00:12:02.940 --> 00:12:08.520 Steven Frey (SMB Guy): Is Martin, small, medium sized business goes yeah and an HR. Oh, you know, as a type of option is
00:12:08.760 --> 00:12:17.280 Steven Frey (SMB Guy): Us going into their world and customizing a solution configuring it around. In some cases, technology and things they already have existing
00:12:17.550 --> 00:12:22.200 Steven Frey (SMB Guy): Or in other cases, maybe they want us to build something from the ground up, you know, not just
00:12:22.500 --> 00:12:29.760 Steven Frey (SMB Guy): Doing Human Resources consulting and payroll. Perhaps they need, you know, time and labor, you know, time and attendance record keeping types of functions.
00:12:30.210 --> 00:12:43.680 Steven Frey (SMB Guy): Perhaps they need recruiting services help getting the right people into into the doors in the first place. And, you know, again, recruiting gets kind of differentiated from onboarding it's like recruiting is you're getting the right people into the mix.
00:12:44.040 --> 00:12:45.870 Steven Frey (SMB Guy): onboarding is okay you've decided
00:12:45.870 --> 00:12:55.320 Steven Frey (SMB Guy): Which of those people, you're actually going to move forward with it. The company. And now you need to get those people acclimated to your people and get them to learn your process at the company.
00:12:55.770 --> 00:13:03.090 Steven Frey (SMB Guy): So again, you know, the ideas of these types of models are very similar. But, you know, to, you know, P. O. Co employment arrangement, you're
00:13:03.480 --> 00:13:11.070 Steven Frey (SMB Guy): Almost outsourcing the employer of record responsibilities and HR. Oh, you know, the employer remains the employer record but
00:13:11.370 --> 00:13:20.910 Steven Frey (SMB Guy): In general, you know, dedicated Human Resources people first. And, you know, obviously, in order to keep the people around you need to pay them. So you need to process payroll, those are
00:13:21.180 --> 00:13:28.230 Steven Frey (SMB Guy): Those are kind of foundational parts of this, but having good good people and good process, you know, typically leads itself to the right products.
00:13:28.500 --> 00:13:28.890 Steven Frey (SMB Guy): So,
00:13:29.370 --> 00:13:35.520 Steven Frey (SMB Guy): I know that's a long winded answer to a to a, to a question, but there's some some subtle differences between the two.
00:13:36.180 --> 00:13:42.120 Eric Sarver, Esq.: Well, yeah, Stephen, see you as an attorney, I think words, everything you say long winded. I say comprehensive
00:13:42.540 --> 00:13:47.760 Eric Sarver, Esq.: You say long, as I say, thorough. So actually, that was a very thorough answer and I have some thoughts about it some observations.
00:13:48.150 --> 00:13:53.430 Eric Sarver, Esq.: From my perspective as an employment lawyer, but we have to take a commercial break. So your timing is actually right on the money.
00:13:53.970 --> 00:14:08.340 Eric Sarver, Esq.: We're just not going to break right now, folks. So stick around we'll be right back with Stephen Fry from expenses and we'll talk more about IPOs intros differences and how they might benefit you. So stick around we'll be right back.
00:16:21.480 --> 00:16:31.170 Eric Sarver, Esq.: Welcome back to class today. Eric saw her list of the show and employment law attorney that was Eric. I'm sorry, I'm here speaking tonight with
00:16:31.590 --> 00:16:40.920 Eric Sarver, Esq.: Stephen Fry from expenses group national sales manager and also the show. Always Friday on talk radio and my city, and I've been told.
00:16:41.670 --> 00:16:50.640 Eric Sarver, Esq.: To the grapevine that we have joining us today and somebody who knows. See if it shows me with always Friday, who wanted to request for Stephen
00:16:51.360 --> 00:17:03.720 Eric Sarver, Esq.: To CC in his signature sunglasses, which is part of his Friday. So Stephen if you're so inclined to be asking the brain. Sure, I see no reason why not. Right. It's absolutely
00:17:04.260 --> 00:17:13.050 Steven Frey (SMB Guy): I appreciate the request and you know I do feel that most free to the clarity around small and medium sized businesses and their leadership and their trusted advisors.
00:17:13.410 --> 00:17:20.580 Steven Frey (SMB Guy): Does often happen on Friday when people feel the freedom of the weekend coming. So here's to feeling free for a little bit.
00:17:21.270 --> 00:17:31.320 Eric Sarver, Esq.: There you go. Right. Okay. Very, very cool. I think, actually, I tried that on your show. I just ingest and I realized that the first time I'd ever been to the zoom call
00:17:31.680 --> 00:17:38.490 Eric Sarver, Esq.: wearing sunglasses, you know, just something, but we do things here in my city, right, we kind of like to let our hair down, so.
00:17:40.080 --> 00:17:49.650 Eric Sarver, Esq.: So going back to the topic here and do an intro. I appreciate the model the differentiation and, you know, you talked a bit about like to sort of
00:17:50.700 --> 00:17:58.920 Eric Sarver, Esq.: analogy of a union. It's kind of like a you know you're coming into our house and we are the employer a record. And what I found.
00:17:59.760 --> 00:18:08.010 Eric Sarver, Esq.: Is that a lot of business owners are there swamps. I mean, they're just too much on their plate as it is and then
00:18:08.850 --> 00:18:15.960 Eric Sarver, Esq.: The people that they look after their employees their independent contractor is the difference between the two. So, help them to distinguish
00:18:16.440 --> 00:18:21.720 Eric Sarver, Esq.: This problem with their services they provide this path hassles contracts are signed so
00:18:22.350 --> 00:18:34.140 Eric Sarver, Esq.: It's easy to let certain things slip through the cracks and also to not know what the wall requires so when when I often talk to my clients at this point is that
00:18:34.650 --> 00:18:41.940 Eric Sarver, Esq.: If you have a PTO or a reputable he URL. Right. You know, human resource outsourced model like the way Stephen describe
00:18:42.900 --> 00:18:54.660 Eric Sarver, Esq.: And they're worrying about saying you're correct meeting during onboarding process that you're paste up in checks to the paychecks and David employees. You seen has the right
00:18:57.000 --> 00:19:03.150 Eric Sarver, Esq.: Sort of deductions reduce taxes. This is my inspirations. No question and being sort of observations from my perspective.
00:19:03.540 --> 00:19:10.740 Eric Sarver, Esq.: And also that so you see the business, get the benefit of having that burden we leave. I happen to know
00:19:11.280 --> 00:19:16.830 Eric Sarver, Esq.: All the different nuances. For example, when it comes to if there are restaurants that typically knowing what's
00:19:17.670 --> 00:19:25.080 Eric Sarver, Esq.: Taken from the front and back of house. That being said, I think it's important for business owners to be aware of the law because you can't simply
00:19:25.440 --> 00:19:35.100 Eric Sarver, Esq.: Asked you know off board all your duties responsibilities on to the compliance. An important point to make, but Stevens Point, these, these are definitely models that
00:19:35.580 --> 00:19:42.000 Eric Sarver, Esq.: Help with these key issues. So, you know, we thought. So my question. Next question. I had to give. And I wondered is
00:19:42.540 --> 00:19:54.690 Eric Sarver, Esq.: For our listeners out there. What factors should business owners consider when they're trying to decide between whether you're joining PTO or an HMO, you mentioned something about the factors that we might have to keep in mind.
00:19:55.320 --> 00:20:07.500 Steven Frey (SMB Guy): Yeah, I think you were going down a good road just now to Eric with, you know, the idea of risk mitigation. It's, you know, I look at risk is there's two types of risk out there, there's there's calculated risk and there's trial by fire.
00:20:08.130 --> 00:20:14.700 Steven Frey (SMB Guy): And if there's one thing that drives me crazy in this industry is, you know, a lot of times, small, medium sized business leaders, their management.
00:20:15.030 --> 00:20:22.110 Steven Frey (SMB Guy): They think they're looking at a trial by fire situation, trying to figure something out when really it's it's calculated risk. It's just trying to
00:20:22.380 --> 00:20:28.050 Steven Frey (SMB Guy): You know, just proceed the right way. Having the right partners right people around you and just having a good, tight process for it.
00:20:28.410 --> 00:20:34.050 Steven Frey (SMB Guy): But one of the biggest things that business owners and their management should should consider when they're looking at
00:20:34.320 --> 00:20:48.540 Steven Frey (SMB Guy): You know, a PEO or an HR RO type of model. And again, this, we're really talking about a people and process solution here, you know, you want to do everything as it relates to HR is bringing home best practices for the people who work for you.
00:20:48.900 --> 00:20:49.470 Eric Sarver, Esq.: And for the
00:20:49.500 --> 00:20:52.890 Steven Frey (SMB Guy): clients that you're trying to serve. That's the name of the game with all of this.
00:20:53.250 --> 00:21:04.530 Steven Frey (SMB Guy): So first things first, you know, when you're exploring these types of solutions, very simple question to ask yourself is What are you looking at this as a necessary evil employees need to get paid.
00:21:05.280 --> 00:21:09.240 Steven Frey (SMB Guy): Or are you looking at it as your employees are your biggest asset.
00:21:10.020 --> 00:21:14.820 Steven Frey (SMB Guy): Because you know when you really care about your employees and you're invested in their growth.
00:21:15.120 --> 00:21:23.700 Steven Frey (SMB Guy): And the idea of, you know, train your employees so that they're skilled enough to leave but treat them so that they never want to if that's your mentality.
00:21:23.970 --> 00:21:34.860 Steven Frey (SMB Guy): Than a PPO or HR type of model is a phenomenal partner for for an organization, you know, and I would contrast that with you know if you know a particular SMB or
00:21:35.250 --> 00:21:43.440 Steven Frey (SMB Guy): Business owner management, if they're looking for a cheaper alternative to the current payroll arrangement or the current health insurance arrangement.
00:21:43.800 --> 00:21:48.600 Steven Frey (SMB Guy): Man, that's why they're looking at, you know, a dedicated HR and Payroll Solution.
00:21:49.590 --> 00:22:03.540 Steven Frey (SMB Guy): You know, it's, it might work for them. It might not. It's, it's, it's something that a lot of folks will look at those types solutions, hoping to save money. And that's the only way they look at it, when in reality of people solution is a very conceptual type of product.
00:22:03.960 --> 00:22:15.900 Steven Frey (SMB Guy): Is okay everybody can, you know, if I put five business owners next to each other at the end of the day, all five of them might move forward with a PEO or HR solution for different reasons.
00:22:17.670 --> 00:22:22.950 Steven Frey (SMB Guy): You know, again, those are, and it's not necessarily all at once. A lot of times these solutions are so comprehensive
00:22:23.280 --> 00:22:27.480 Steven Frey (SMB Guy): Compared to do just a standalone Payroll Solution, which, you know, a lot of times they get
00:22:27.480 --> 00:22:32.730 Steven Frey (SMB Guy): Compared to each other. And it's like apples and oranges. You know, these types of solutions are so comprehensive
00:22:33.030 --> 00:22:38.820 Steven Frey (SMB Guy): It's not just, if somebody's looking to, you know, we do this company for payroll. Can you save us a couple bucks over it.
00:22:39.210 --> 00:22:49.320 Steven Frey (SMB Guy): That's not really the discussion. It's more of, well, what are your goals as a business. What are the primary goals. What are the secondary goal is, if you get those done. What are the tertiary goals and you
00:22:49.620 --> 00:23:04.680 Steven Frey (SMB Guy): Plan to accomplish that. And who are you going to use to accomplish that, you know, certain, you know, these types of platforms, you know, sometimes up to a prospect client and move forward with the idea of using 30 to 40% of what's available immediately.
00:23:04.800 --> 00:23:12.480 Steven Frey (SMB Guy): And they'll save the rest for, you know, down the road. Some of them will use 70 to 80% of it immediately because that's what their, their needs are.
00:23:12.960 --> 00:23:19.950 Steven Frey (SMB Guy): But at the end of the day, a lot of people. A lot of folks out there that look at these types of solutions they will move forward with them for different reasons.
00:23:20.280 --> 00:23:25.680 Steven Frey (SMB Guy): But probably the biggest thing to consider. And this is why I'm so hell bent on this type of philosophy.
00:23:26.070 --> 00:23:39.090 Steven Frey (SMB Guy): Basically people first then process them product is do you are you focused on your people are you people centric. Are you trying to promote a positive employee culture. Are you trying to be an employer of choice.
00:23:39.390 --> 00:23:45.960 Steven Frey (SMB Guy): These are all the types of questions that folks should ask themselves, or they striving to be an employer of choice. So they strive
00:23:46.350 --> 00:23:52.680 Steven Frey (SMB Guy): For Best Practices and they know that they want to get there, but they're not there yet. Those are some of the biggest reasons.
00:23:53.250 --> 00:23:57.210 Steven Frey (SMB Guy): To to look at these types of platforms in detail you know and and really
00:23:57.750 --> 00:24:03.510 Steven Frey (SMB Guy): At the end of the day, if somebody's looking at something like this because, oh yeah, it might be a couple bucks cheaper than their current solution.
00:24:04.080 --> 00:24:12.030 Steven Frey (SMB Guy): A lot of times the same people will look the very next year because that's just the way that they evaluate how to make decisions regarding the business, you know,
00:24:12.120 --> 00:24:15.930 Steven Frey (SMB Guy): To, you know, it's just a hey maybe we could save a couple more bucks next year.
00:24:16.320 --> 00:24:21.030 Steven Frey (SMB Guy): You know, it's, it's not really you know about all of that. It's really ask yourself, you know,
00:24:21.600 --> 00:24:36.990 Steven Frey (SMB Guy): How do you, how do you feel about your people. Do you want the business to grow. What are your growth plans. You know, those are the types of questions where you can look at a p o HR type of solution as a strategic partner, where a lot of people look at it as a commodity.
00:24:37.530 --> 00:24:40.680 Steven Frey (SMB Guy): And that's it's just quite. It's not the way to look at it.
00:24:40.710 --> 00:24:49.440 Steven Frey (SMB Guy): It's, you know, years ago, I worked in the in the mortgage industry and, you know, the mortgage industry. I love to being able to creatively finance properties and knowing
00:24:49.560 --> 00:24:55.350 Steven Frey (SMB Guy): How to run the numbers and get get it all line up knowing which you know product fit where I liked all of that.
00:24:55.680 --> 00:25:08.250 Steven Frey (SMB Guy): But I hated the idea that you could do a whole bunch of work with a particular client or opportunity. And then if somebody down the street has a rate that's an eighth of a point cheaper. That was the main driving factor in most of those those decisions.
00:25:09.300 --> 00:25:21.960 Steven Frey (SMB Guy): And you know even myself. Nowadays, the way that I look at it, something like that. It's, it's almost equally important for me to look at that the person who's working on the mortgage and go, well, how know, did they, how well did they know the underwriting guidelines is
00:25:21.960 --> 00:25:26.430 Steven Frey (SMB Guy): Like, how, how well do they know their world. Are they an expert at their profession and so
00:25:26.640 --> 00:25:33.540 Steven Frey (SMB Guy): In order to do business with you know with each other. There's only three things that need to happen. People have to like you, they have to trust you and they they have to thank you
00:25:33.750 --> 00:25:39.300 Steven Frey (SMB Guy): You know what you're talking about that you're a subject matter expert that you that that you're a leader of your field.
00:25:39.870 --> 00:25:42.990 Steven Frey (SMB Guy): And you know that's that's the type of feeling that
00:25:43.410 --> 00:25:51.270 Steven Frey (SMB Guy): You know the P O H RO type of world solution is really should deliver and that's what we really strive for at expenses, it's
00:25:51.510 --> 00:25:59.640 Steven Frey (SMB Guy): It's it's people first all the time. It's the most important question at the end of the day that my senior leaders and my colleagues, they want to hear is
00:26:00.240 --> 00:26:08.250 Steven Frey (SMB Guy): Did have you guys decided that this type of approach and this this team. These are the right people for you. These are the right partners.
00:26:08.670 --> 00:26:12.240 Steven Frey (SMB Guy): Because really, if they're not like nothing else is going to work after the
00:26:12.540 --> 00:26:24.900 Steven Frey (SMB Guy): Same. The same way that normal business operates. If you don't, you know, good health is hard to find that type of concept is like if you if you're having trouble finding good quality employees to promote a good quality positive culture, then
00:26:25.290 --> 00:26:28.020 Steven Frey (SMB Guy): Everything starts there. You got to make sure that's good.
00:26:28.380 --> 00:26:38.580 Steven Frey (SMB Guy): So, you know, again, it's the biggest factors business owners consider they're looking to grow. Do they care about their employees do they want to invest in their employees do they want to invest in their company.
00:26:38.910 --> 00:26:52.410 Steven Frey (SMB Guy): Because you know folks that are using just pure, you know, very self reliant payroll solutions. There are ones out there that basically let you do everything yourself and then you just print it off and give everybody the checks.
00:26:53.010 --> 00:26:54.930 Eric Sarver, Esq.: They're the ones that are making the case they come to me.
00:26:56.190 --> 00:26:58.170 Steven Frey (SMB Guy): To help me who are on their behalf.
00:26:58.800 --> 00:27:08.760 Eric Sarver, Esq.: You know, there's so many things that I can relate to identify with isn't employment law attorney until they have some Mikey back from trying to change that, as we speak, but what I'm hearing is. Oh, it's better now.
00:27:09.420 --> 00:27:18.750 Eric Sarver, Esq.: A few things, if I may jump in and by way of identification and to you sort of amplify your points. One, that the idea that the choosing selecting an HMO or PPO
00:27:19.290 --> 00:27:25.800 Eric Sarver, Esq.: Solutions are service provider and it's not just about and saving a few quick bucks or putting a price on and I know as an attorney.
00:27:26.070 --> 00:27:31.980 Eric Sarver, Esq.: We often to get people to Claudia. Some people, they recommended and they're really interested in, you know, can you give them quality service.
00:27:32.280 --> 00:27:36.660 Eric Sarver, Esq.: And for the long run, and they're invested in the log home and others of course will go quickly to
00:27:37.110 --> 00:27:43.650 Eric Sarver, Esq.: How much do you charge for this company charge for that. And, you know, then we'll make a few calls and someone charge $200 less or whatever, they'll go with that person.
00:27:44.010 --> 00:27:54.840 Eric Sarver, Esq.: But they're not been often focused on the quality and I think that when you focus on the cheap pennies and you lose quality become penny wise and pound foolish and the other thought that comes to mind before
00:27:59.940 --> 00:28:10.920 Eric Sarver, Esq.: We talk about your extensive philosophy, your philosophy. Do you want to invest in your people because they help to be rubbish on the drive the business. They keep it successful. It's looking at it as
00:28:11.250 --> 00:28:20.100 Eric Sarver, Esq.: Motivating your people treating them. Well, I'm fine. From an Employment Lawyers perspective that and companies that have that in philosophy tend to have
00:28:20.430 --> 00:28:30.690 Eric Sarver, Esq.: Just by nightmare correlation. It's not a coincidence that I tend to have meant much fewer issues of employee conflict that escalate few issues of employees suing for
00:28:30.990 --> 00:28:38.100 Eric Sarver, Esq.: discrimination, harassment. Not all the time. But a lot of times if you're truly focus on and concerned about and employees well being.
00:28:38.520 --> 00:28:48.480 Eric Sarver, Esq.: Such that you invest in the right plan with the right company like expenses, for example, then the chances are you're actually focus on what's going on in the workplace and
00:28:48.870 --> 00:29:00.600 Eric Sarver, Esq.: You know, it's not just about am I giving my employees, the bare minimum, it's because I haven't I have clients asked me what's the least amount of paid time off, I'm supposed to get my employees under New York State law and I'll tell
00:29:01.680 --> 00:29:08.340 Steven Frey (SMB Guy): Them back is that the results that you're hoping for is that the employees do the absolute bare minimum written needed to keep their job.
00:29:08.760 --> 00:29:16.530 Eric Sarver, Esq.: Often I'll quote if they're depending on the person, their personality. I might pull from office based, if I may, which is that, and that will just give
00:29:17.250 --> 00:29:27.810 Eric Sarver, Esq.: The sort of the bare minimum, and the fear based motivation is just enough to keep somebody level where they'll do their jobs and minimum without getting fired. And so, you know, throwing in the extra incentive
00:29:28.380 --> 00:29:35.880 Eric Sarver, Esq.: That you know that the positive, you know the the carrot, rather than the stakes, I think is very important. So I actually often encourage my clients.
00:29:36.270 --> 00:29:47.790 Eric Sarver, Esq.: From a business point of view and legal, you know, to this is what the law requires the floor, but I encourage you go past that to a ceiling and we are due for commercial breaks up with that I'm going to
00:29:49.140 --> 00:29:57.300 Eric Sarver, Esq.: Turn over to our sponsors in our commercial so everyone. Stick around, we'll be right back this brilliant conversation with Stephen Fry from an extensive
00:32:25.200 --> 00:32:30.240 Eric Sarver, Esq.: Welcome back to him formula today and Eric soccer employment law business law attorney and host of the show.
00:32:30.810 --> 00:32:39.810 Eric Sarver, Esq.: With me tonight and Stephen Fry the SMB guys, small, medium sized business consultant who also works as national sales manager for expenses.
00:32:40.170 --> 00:32:43.290 Eric Sarver, Esq.: And we've been talking tonight for those who may have joined us late about
00:32:43.770 --> 00:32:55.560 Eric Sarver, Esq.: pinos and each role models for businesses and how a business can outsource some of its people, its people in process focus surfaces that just onboarding recruiting
00:32:56.430 --> 00:33:06.840 Eric Sarver, Esq.: compliance with the law and what sentence group when I hear from Stephen is focused on and found me and Stephen, correct me if I'm or feel free to answer this. But what I hear is that
00:33:07.290 --> 00:33:17.580 Eric Sarver, Esq.: You're focused on that the people of the business of your clients at his their people and their process and that the philosophy is not so much of
00:33:18.090 --> 00:33:29.070 Eric Sarver, Esq.: A your business and you need extensive group to get from commodity of x, x being said, you know, a little bit of help with this, you know, payroll services or that you can do things piecemeal, but that
00:33:29.520 --> 00:33:35.100 Eric Sarver, Esq.: The ideal for us to your approach is to look at everything from
00:33:35.970 --> 00:33:45.000 Eric Sarver, Esq.: HR services as on your screen there are benefits services to compliance, look at the whole picture and from to sort of evaluate you know what's best for you.
00:33:45.600 --> 00:33:55.290 Eric Sarver, Esq.: Do you have a lot of employees are they high risk employees for issues around injuries and workers comp any low risk. So all these factors and go into if not mistaken.
00:33:55.680 --> 00:34:05.610 Eric Sarver, Esq.: How extensive group and how you might help a business owner to see if each of our P O model is is right. Is that accurate so far.
00:34:05.970 --> 00:34:19.050 Steven Frey (SMB Guy): Yeah, I mean I again. I like to think of it as a dedicated HR and Payroll Solution, everything starts there and it's if you look at the top here where it says HR services, you know, HR services is people it's it's
00:34:19.290 --> 00:34:25.620 Steven Frey (SMB Guy): People who are working for you. It's how you're treating how you're treating them and how you know the culture works. And then how
00:34:25.920 --> 00:34:35.220 Steven Frey (SMB Guy): You guys are actually going outside of your walls and how you guys actually treat clients. It's all a lot of it you know comes down to, you know, setting very clear process as well so
00:34:35.490 --> 00:34:43.380 Steven Frey (SMB Guy): You know, people first and then process, then you know you talk about things like group benefit consulting and administration and risk and compliance work.
00:34:43.740 --> 00:34:45.870 Steven Frey (SMB Guy): Very often, that's, that's almost seemed like a
00:34:45.870 --> 00:34:55.110 Steven Frey (SMB Guy): Product, not only to small and medium sized business owners, but in some cases to the financial advisors and insurance brokers that they end up partnering with
00:34:55.440 --> 00:35:09.090 Steven Frey (SMB Guy): It is almost like yeah let me play matchmaker with the right product for you. And you know, really, again, these are you know all categories that revolve around the people, first and foremost, and in some cases, both the employees and the employer all at once.
00:35:10.620 --> 00:35:20.280 Steven Frey (SMB Guy): Yeah, and then you're really having a good, tight process, especially as it relates to orchestrate and group benefits on both the healthcare side and the retirement side and the group life side.
00:35:20.550 --> 00:35:27.360 Steven Frey (SMB Guy): You know, all of that stuff is that there's more than just matching up a product and somebody having a license to sell said product.
00:35:28.080 --> 00:35:36.030 Steven Frey (SMB Guy): It's it's a lot more of a strategic conversation than people give it credit for. And again, like, to that end, it's
00:35:36.570 --> 00:35:49.260 Steven Frey (SMB Guy): HR services first people know this, I would consider kind of a hybrid so revolves completely around the people gets a little deeper into the process. It's each one like group benefits. If you look at the financial services and 401K.
00:35:49.590 --> 00:35:54.150 Steven Frey (SMB Guy): 401k is like its own language and own business within the business.
00:35:54.480 --> 00:36:01.560 Steven Frey (SMB Guy): Like, same thing with group health benefits as opposed to folks that are, you know, partnering with individuals to provide individual life policies.
00:36:01.860 --> 00:36:06.840 Steven Frey (SMB Guy): You know, totally different circumstances. These when you become a small and medium sized business owner
00:36:07.320 --> 00:36:14.370 Steven Frey (SMB Guy): Which a lot of folks do just pursuing their passion. So just doing what they went to school for just doing what they trained to do from an early age.
00:36:14.610 --> 00:36:19.890 Steven Frey (SMB Guy): You know, whatever it is, it's, you know, they'd be sometimes they become accidental business owners.
00:36:20.250 --> 00:36:29.520 Steven Frey (SMB Guy): And so, you know, okay, no matter what, no matter if it's a small, medium, large mega size business. There has to be some type of HR function with with these types of
00:36:29.790 --> 00:36:39.060 Steven Frey (SMB Guy): Other periphery go, hang on, like, it has to. There has to be some type of function to make sure that the people are there that people are engaged the people are working and the business is staying afloat.
00:36:39.870 --> 00:36:46.230 Steven Frey (SMB Guy): But a lot of times with, you know, people who are SMEs and go into business just as a result of their own passions and some of their own neighbors.
00:36:46.590 --> 00:36:53.130 Steven Frey (SMB Guy): A lot of that gets glossed over in favor of just getting moving, which you know a lot of people can relate to out there.
00:36:53.640 --> 00:36:58.110 Steven Frey (SMB Guy): You know, and then finally at the end. At the end of, you know what, what I'm showing you just on my screen is
00:36:58.290 --> 00:37:06.240 Steven Frey (SMB Guy): You know, human resources information systems, having a technology that drives all of this. So again, I think of things in terms of people first process and product.
00:37:06.540 --> 00:37:15.150 Steven Frey (SMB Guy): So these are some of the big services that we would claim to offer Human Resources Services Group benefits consulting and administration risk and compliance services.
00:37:15.570 --> 00:37:16.770 Steven Frey (SMB Guy): And human resources.
00:37:16.770 --> 00:37:24.900 Steven Frey (SMB Guy): Information System technology people process product really in reality the product at the end where a lot of people look these days, especially
00:37:25.320 --> 00:37:30.360 Steven Frey (SMB Guy): You know, in the age that we're in, where there's apps every five minutes that do something better than the last one and
00:37:30.570 --> 00:37:35.370 Steven Frey (SMB Guy): You know, TVs that seem to do everything on their own. At this point, and Alexa controlling our entire house.
00:37:35.610 --> 00:37:45.540 Steven Frey (SMB Guy): You know, everybody is all about the product, which again I love being conscious of product. I like you know keeping abreast of the industry and what's new and what's changing and what's on the horizon.
00:37:46.080 --> 00:37:57.600 Steven Frey (SMB Guy): But there is no substitute for a good process and that process has to have good people behind it, the HR is type of technology. Human Resources Information System technology we use
00:37:58.140 --> 00:38:08.970 Steven Frey (SMB Guy): It's just the engine that helps us deliver the infrastructure, the foundation of the dedicated Human Resources people and the dedicated payroll process.
00:38:09.210 --> 00:38:17.970 Eric Sarver, Esq.: Hmm, you know, along those lines. And I would say that when you're talking about people process and product and how people in price, it's still important to the business owner
00:38:18.390 --> 00:38:26.010 Eric Sarver, Esq.: Within my experience as a small patent law firm. I don't think that business owner, of course, but also as a professional service provider and attorney that
00:38:26.490 --> 00:38:32.010 Eric Sarver, Esq.: Those that philosophy of putting people in process. First, while staying abreast of the product.
00:38:32.640 --> 00:38:39.330 Eric Sarver, Esq.: Is not only a good one for the business owner to have but agreements in the service provider. So if it's a I know you
00:38:39.780 --> 00:38:46.860 Eric Sarver, Esq.: Talked about the tissue in different ways. Over the last maybe last month or so. I think we talked about when I was a guest on your show.
00:38:47.250 --> 00:38:57.570 Eric Sarver, Esq.: And the idea that, you know, if you're just looking say online to download some technology that will give you some sort of automated HR assistant without
00:38:58.020 --> 00:39:03.660 Eric Sarver, Esq.: A group like extensive or like yourself a you know a person that can integrate everything that understands
00:39:04.020 --> 00:39:10.590 Eric Sarver, Esq.: What what your goals are, you know, what are you looking to do as a business. What do you risk. What are your liabilities. How are you different than
00:39:10.980 --> 00:39:21.420 Eric Sarver, Esq.: Other business owners. I think when you factor that in. It definitely pays to have a service provider like yourself that focuses on people and process. So, you know, to me, that's an important
00:39:22.020 --> 00:39:33.930 Eric Sarver, Esq.: Distinction. And it kind of brings me to an observation I had there to a question I had about well actually you answered about why a business owner should go with the company like expenses and I think you gave us a really good
00:39:35.100 --> 00:39:37.620 Eric Sarver, Esq.: Answer around that unless you want to add
00:39:37.980 --> 00:39:43.350 Steven Frey (SMB Guy): I'll give you some some differentiators for sure about the extensive group and how we attack things
00:39:43.530 --> 00:39:45.690 Steven Frey (SMB Guy): But I loved what you were saying about
00:39:45.960 --> 00:39:51.900 Steven Frey (SMB Guy): You know, again, the focus about the people in process, obviously it resonates very deeply with me it. Think of it this way.
00:39:52.800 --> 00:40:00.630 Steven Frey (SMB Guy): You know, you can go online, Google cell phone, whatever you want. These days, and you can find a map and a compass.
00:40:01.050 --> 00:40:09.810 Steven Frey (SMB Guy): For right any, like, that's a metaphor for anything you know out there that's helping you really to try to for you to try to help yourself, find your way.
00:40:10.620 --> 00:40:20.340 Steven Frey (SMB Guy): But when if you're lost in the wilderness and, you know, believe me a lot, and I feel like you can attest to this really well. A lot of small and medium sized business owners when it comes to HR payroll and
00:40:20.550 --> 00:40:27.540 Steven Frey (SMB Guy): administrative functions they feel like they're lost in the wilderness compared to their normal, you know, passionate subject matter expertise.
00:40:27.960 --> 00:40:33.690 Steven Frey (SMB Guy): You're, you're lost in the wilderness and those night noises starting to get dark at 430 here, these days. Right. Yeah.
00:40:34.290 --> 00:40:40.710 Steven Frey (SMB Guy): Do you want to be fumbling around for the map and the compass, or do you want a guide to take you through the wilderness.
00:40:41.610 --> 00:40:51.180 Steven Frey (SMB Guy): It's far too often these days where some of the opportunities and the folks that I'm talking to. It's they've tried over the course of, you know, last handful of years, even the last 510 years
00:40:51.690 --> 00:41:01.440 Steven Frey (SMB Guy): Licensing different technologies and buying different things and hiring consultants and and trying to figure out, like what product. What magic wand, what
00:41:01.830 --> 00:41:05.280 Steven Frey (SMB Guy): New shiny mousetrap is really going to solve all their problems.
00:41:05.850 --> 00:41:23.100 Steven Frey (SMB Guy): And they've they kind of skip over the fundamental stuff. And again, like just so strongly I feel about it. It's if you're surrounding yourself with the right people and you have a good, tight process. It's going to ultimately lead you to, to the right products. So with. Yeah, go ahead. Sorry.
00:41:23.910 --> 00:41:31.260 Eric Sarver, Esq.: My neighbor, not to drink too much by way of notification and relating, you know, it's just, it's there are so many people out there who
00:41:31.950 --> 00:41:36.690 Eric Sarver, Esq.: If they want to they can go online, you can say Google, you know, I need a template right contract for this to know
00:41:36.990 --> 00:41:46.650 Eric Sarver, Esq.: And that service agreement need a statement of work right either employee handbook and you know you can download a template, but you might have a new ones time now with Cooper 90s, or no.
00:41:48.090 --> 00:41:48.810 Steven Frey (SMB Guy): Right, exactly.
00:41:49.710 --> 00:41:55.680 Steven Frey (SMB Guy): Why or different state, you know, like again like you hit the nail on the head, the employee handbooks is a great one to think about
00:41:55.980 --> 00:42:00.840 Steven Frey (SMB Guy): Like you know you can pay thousands of dollars to have one done for you customize
00:42:01.200 --> 00:42:11.040 Steven Frey (SMB Guy): Or you can get one for 2999 and also the shelf somewhere like there's just a template, but it's just a matter of everything in life. Whether it's personal or business.
00:42:11.460 --> 00:42:21.600 Steven Frey (SMB Guy): There's some type of given a take and when you have you know a service model that's just going to deliver as you said before the bare essentials that folks need to get by, like, the bare requirements.
00:42:22.050 --> 00:42:26.310 Steven Frey (SMB Guy): What that does is it leaves the small medium sized business owner, as the one it's
00:42:26.310 --> 00:42:29.880 Steven Frey (SMB Guy): It's basically incumbent upon them to do all the heavy lifting.
00:42:30.210 --> 00:42:33.300 Steven Frey (SMB Guy): And if it's not something that they're trained for, you know,
00:42:33.330 --> 00:42:42.900 Steven Frey (SMB Guy): It's, it could be disastrous. So it's, it's like a, like I would use the analogy in the financial services world, which, you know, I have lots of folks I work with expenses.
00:42:43.110 --> 00:42:47.760 Steven Frey (SMB Guy): Just so you know, by, by the way that we tend to go to market is really not only as an extension.
00:42:48.090 --> 00:42:56.100 Steven Frey (SMB Guy): Of the small and medium sized business but also of their of their trusted advisors, you know, the financial and insurance professionals and the
00:42:56.310 --> 00:43:04.440 Steven Frey (SMB Guy): You know, tax preparers, things like that, who are really advising the small to medium sized business on you know really where they need to go. Yeah, but it's
00:43:05.370 --> 00:43:12.900 Steven Frey (SMB Guy): There's you need help navigating some of these waters. It's you can't just it's not it's not just a plug and play type of solution, you know,
00:43:14.010 --> 00:43:18.810 Eric Sarver, Esq.: Few things in life are you know and i mean that's I think the map in the conference is a great analogy we might have
00:43:19.320 --> 00:43:31.920 Eric Sarver, Esq.: Been financed by speak to them because if you don't want to be trying to figure it out. YOU KNOW, IN THE DARK BROTHERS when they're confused and you're running a business and you're already focused on, say goodbye to your product or your service.
00:43:34.830 --> 00:43:36.930 Steven Frey (SMB Guy): Bar and I just I just want a quarter. Every time you say
00:43:37.380 --> 00:43:38.940 Eric Sarver, Esq.: Not a problem with my friend.
00:43:41.730 --> 00:43:43.110 Steven Frey (SMB Guy): Electrical property attorneys know
00:43:44.100 --> 00:43:47.010 Eric Sarver, Esq.: Exactly, exactly it right so
00:43:47.250 --> 00:43:55.980 Steven Frey (SMB Guy): But, but what where I was going with that, you know, also, again from the, the Financial Services world is, you know, very often, it's, it's, you can't, you know,
00:43:56.940 --> 00:43:59.100 Steven Frey (SMB Guy): Thinking of a bunch of analogies like this. It's like
00:43:59.490 --> 00:44:13.500 Steven Frey (SMB Guy): You know prescription without diagnosis is malpractice. Like, you can't just try to jam something in there without figuring out who you know it's not really about the shiny new mouse trap. It's about who's, who's moving the cheese. That's, that's what's really the most important thing here.
00:44:15.450 --> 00:44:23.250 Eric Sarver, Esq.: I think that's a great way to break Marshall with but absolutely I'm with you. I'm saying he knew my clients.
00:44:24.810 --> 00:44:34.590 Eric Sarver, Esq.: Love it. And usually the ones that are really respectful of the idea that this is a process. And this is something that requires a level of expertise and knowledge.
00:44:34.890 --> 00:44:44.700 Eric Sarver, Esq.: They tend to be much more open to solutions and the ones that are sort of like candidates on my own and occasionally issue for a quick answer. It's a little difficult to actually
00:44:45.540 --> 00:44:59.400 Eric Sarver, Esq.: Get success on their side. So we have to take a break, folks. And I'll be back with Stephen when I come back, maybe, Steve. It's also show always Friday on talking about my seeds, the ground and Eric sorry for employment law. Today we'll be right back.
00:46:46.350 --> 00:46:53.250 Listening to talk radio NYC at www talk radio dot NYC now broadcasting.
00:47:18.300 --> 00:47:27.270 Eric Sarver, Esq.: Welcome back to implement a lot today. I'm Eric soccer employment law and business lottery and principal and founder of the Lost Ark. I'm sorry.
00:47:27.690 --> 00:47:39.840 Eric Sarver, Esq.: I'm here today with my special guest Stephen Fry the SMB guys, small, medium business guy and also the national sales manager for extensive group and Stephen, we're just
00:47:40.290 --> 00:47:43.530 Eric Sarver, Esq.: Had a really great conversation about people and processes about
00:47:44.130 --> 00:47:52.770 Eric Sarver, Esq.: A major themes here, pardon me from Stephen show from our, our show and Stephens contributions and show about you're looking at the big picture about
00:47:53.130 --> 00:48:06.000 Eric Sarver, Esq.: The benefits of focusing on quality and a comprehensive package opposed to just sort of narrowly picking and choosing certain products. We talked about the benefits of seeing people
00:48:06.630 --> 00:48:14.820 Eric Sarver, Esq.: In your business. The main driving force your business. And if you look at the services of HR as a necessary evil, you have to do.
00:48:15.180 --> 00:48:25.770 Eric Sarver, Esq.: Because, oh I just, you know, it's just required, then you might miss out on some of the benefits of the philosophy of the approach of, hey, I will make my business, the best that it can be
00:48:26.670 --> 00:48:43.650 Eric Sarver, Esq.: How do I do that, how do I achieve my people. Well, and how do I make sure they're taken care of their HR and other related need so. So just some thoughts there some observations from tomorrow's discussion. And for me, it was so dry a little water here before going Stephen
00:48:46.110 --> 00:48:59.310 Eric Sarver, Esq.: Okay, that's better. Stephen, if I may have you had a couple of thoughts you want to share about expenses and I want to also give you the opportunity to share about your talk radio show always writing. So, the floor is yours.
00:49:00.600 --> 00:49:04.110 Steven Frey (SMB Guy): Yeah, no, thank you very much again. I appreciate you having me on this evening.
00:49:04.830 --> 00:49:07.320 Steven Frey (SMB Guy): You know, going back to expenses for a moment. It's
00:49:07.650 --> 00:49:16.230 Steven Frey (SMB Guy): Yeah, there's, there's three big differentiation is that come to mind for me, you know, somebody who's been around the small and medium sized business landscape for the past few decades as
00:49:16.560 --> 00:49:20.520 Steven Frey (SMB Guy): You know consultant advocate and fuzziness owner at some points.
00:49:20.970 --> 00:49:31.890 Steven Frey (SMB Guy): You know, first things first, is that, and you could probably attest to this too, it's like, you know, working with, with its team like I do it extensive it's truly the best of both worlds of big corporate america
00:49:32.400 --> 00:49:44.220 Steven Frey (SMB Guy): And you know startup startup type of company mentality. The company's been around for 23 years since 1997 so it was definitely not a startup company. It is privately held so it is not a publicly traded entity.
00:49:44.580 --> 00:49:52.950 Steven Frey (SMB Guy): You know it's I do find in my travels, that, you know, working for, you know, like, like for yourself like you you've formed your own law firm, you know, the folks that
00:49:53.160 --> 00:49:59.190 Steven Frey (SMB Guy): You know, go off on their own as small and medium sized businesses and kind of eat, sleep and live read some of this stuff.
00:49:59.520 --> 00:50:09.930 Steven Frey (SMB Guy): You know, a lot of times, you know, especially if you're in a professional service type of setup, as you know, an attorney and accountant or working in the HR consultancy space, you know, it really gives you the best opportunity to
00:50:10.470 --> 00:50:22.890 Steven Frey (SMB Guy): Do what's best for the client, not necessarily what's best for the shareholders of an organization or what even people what they think is the best idea just by by hearing certain buzzwords around
00:50:23.250 --> 00:50:30.990 Steven Frey (SMB Guy): It really lets you take a position of doing what's what's best for the client and determining who's the right client for you. And are you the right fit for that client.
00:50:31.440 --> 00:50:37.350 Steven Frey (SMB Guy): That's a very important piece of this when you're talking with any type of people solution. I think it's an important question to ask.
00:50:37.890 --> 00:50:47.760 Steven Frey (SMB Guy): You know, the second big differentiator, to me, is, you know, again, we not again, not only do we work as an extension of small medium sized business owners, we work as an extension of their trusted advisors.
00:50:48.090 --> 00:50:52.590 Steven Frey (SMB Guy): So I like to think that one of my big superpowers is being a good geek translator.
00:50:52.800 --> 00:50:56.910 Steven Frey (SMB Guy): You know, in between, you know, the small medium sized business owner and the folks that are
00:50:57.090 --> 00:51:06.750 Steven Frey (SMB Guy): Steering them, whether it's, you know, CPA on the tax side of things, a financial advisor on the money side of things and insurance broker on the protection side of things, or on the health, you know, you know, and wellness side of things.
00:51:07.200 --> 00:51:10.530 Steven Frey (SMB Guy): You know that's it's great to be able to bridge all of those gaps, but
00:51:11.160 --> 00:51:20.250 Steven Frey (SMB Guy): It also just to be able to provide a great solution in partnership with the trusted advisors is a phenomenal approach and it's it's one that I wouldn't trade for anything.
00:51:20.850 --> 00:51:31.140 Steven Frey (SMB Guy): And the, the third big thing is that, you know, when you work in this type of space and you can attest to this as well. Working on behalf of small medium sized business owners their employees and employment issues, potentially
00:51:31.740 --> 00:51:44.460 Steven Frey (SMB Guy): Is you really need to have a type process for your service model, not only for the entity, but for the employees working for them. And I could say with, you know, no no sort of false modesty that
00:51:44.820 --> 00:51:50.850 Steven Frey (SMB Guy): You know we hang our hat on the service. It's very, very big on the red carpet activation and white glove service side of things.
00:51:51.120 --> 00:51:57.900 Steven Frey (SMB Guy): You know, it's more of a a solution focused type of type of approach where if there's something that even needs to be figured out
00:51:58.230 --> 00:52:07.890 Steven Frey (SMB Guy): We figure it out together and we have, you know, decades of experience amongst all of us some from big corporate America, some that were small, medium sized business owners on their own and it's
00:52:08.160 --> 00:52:18.090 Steven Frey (SMB Guy): It is a very happy marriage together with, you know, not only our clients and the trusted advisors, but with my personal philosophies of people first process than product.
00:52:18.480 --> 00:52:26.340 Eric Sarver, Esq.: You know, if I may relate to that one there, enjoy about being a template attorneys that but I do have clients. I don't have to answer to a
00:52:26.670 --> 00:52:30.990 Eric Sarver, Esq.: Large for me to not my friend, they certainly have their place in their resources, but
00:52:31.440 --> 00:52:38.430 Eric Sarver, Esq.: He sort of like the bottom line. And how many billable hours and client work. Work know focusing more on the point of being a bigger bill.
00:52:38.940 --> 00:52:46.500 Eric Sarver, Esq.: For me it's about which means matters more pressing or urgent at the moment as your deadline to be that is an issue that way to be resolved.
00:52:46.860 --> 00:52:56.010 Eric Sarver, Esq.: So I can appreciate how the difference between expenses and let's say a publicly traded company well known to name them, you know, we know which ones they are but
00:52:56.760 --> 00:53:07.500 Eric Sarver, Esq.: But that's that they're different and that you know you're giving them a personal detailed approach and the whole translation components, you know, knowing certain finance and your needs, if that's any indication
00:53:11.670 --> 00:53:13.140 Eric Sarver, Esq.: Your life. Yeah.
00:53:13.230 --> 00:53:22.020 Steven Frey (SMB Guy): Yeah, and being, being a fiduciary geek is another one that's really big on the process side of things and best practices and. And to your point of what you were just saying
00:53:22.320 --> 00:53:37.440 Steven Frey (SMB Guy): You know, there's a lot to the idea of the Goldilocks approach as it relates to not only you know the people types of solutions out there. But, you know, the big publicly traded and types of vendors versus, you know, mom and pop shops is there's too hot, too cold. And there's just right.
00:53:37.920 --> 00:53:49.200 Steven Frey (SMB Guy): Now you know i i do truly feel that the way that this type of solution is positioned again having the flexibility of doing a professional employer organization approach for where it's the best fit because
00:53:49.710 --> 00:53:56.820 Steven Frey (SMB Guy): Let's face facts when the, when the client and question is a fit for that model. It is one of the best discussions that they can have
00:53:57.960 --> 00:54:04.170 Steven Frey (SMB Guy): type of model, but the fact remains, and nobody knows what the future holds with underwriting guidelines and whatnot, that
00:54:04.620 --> 00:54:11.880 Steven Frey (SMB Guy): A lot of businesses are not a fit and these same businesses are still looking for dedicated human resources dedicated people help
00:54:12.330 --> 00:54:21.390 Steven Frey (SMB Guy): And dedicated payroll processing and connectivity with other aspects of their being so again I'm very big and you know this from from my show is
00:54:21.630 --> 00:54:32.550 Steven Frey (SMB Guy): You know, people first process and then product I do also believe very strongly in the method before the madness. So there is a method there is madness. A lot of things that you and I've seen out in the field together.
00:54:33.390 --> 00:54:46.380 Steven Frey (SMB Guy): But also message, what you're supposed to take away from it, and that is that a big part of this is, you know, something that can often be seen as a commodity. It's like you need people you need to pay them to keep them around. If you have a business.
00:54:46.830 --> 00:54:53.190 Steven Frey (SMB Guy): It's so much deeper than that primary goal secondary goals tertiary goals strategic growth plans.
00:54:53.580 --> 00:55:02.070 Steven Frey (SMB Guy): You know it's it's it's way deeper than that. And the folks that are really looking to take their business to the next level with the right types of partners.
00:55:02.340 --> 00:55:15.810 Steven Frey (SMB Guy): There's, there's a number of studies over the last 15 years a few different ones that say using these types of services help business owners their management their staff get back anywhere from 20 to 30% ROI, whether it's time, money, or a combination of the two.
00:55:16.200 --> 00:55:16.590 Steven Frey (SMB Guy): And I
00:55:16.650 --> 00:55:23.100 Steven Frey (SMB Guy): love seeing studies like that. And I love being a part of trying to bring that solution to folks doorsteps
00:55:23.580 --> 00:55:28.200 Eric Sarver, Esq.: It's making an individual and your role with minutes or less time 5pm and fun but
00:55:29.250 --> 00:55:34.350 Eric Sarver, Esq.: He was talking a little bit about yourself like workday time on Friday 1045
00:55:34.500 --> 00:55:43.890 Steven Frey (SMB Guy): Yep. Again, I do feel very strongly that most of the clarity around small and medium sized business and their trusted advisors happens on Friday when we feel the freedom of the weekend coming
00:55:44.130 --> 00:55:54.690 Steven Frey (SMB Guy): by last name fry is German for free. So I, I do like to marry those concepts together. So yeah, always Friday is on talk radio dot NYC at 11am
00:55:55.110 --> 00:56:11.220 Steven Frey (SMB Guy): I do. I have started setting up my socials for always Friday as far as a Twitter and Instagram and all that stuff. We'll get some content out there shortly for you guys but you can always go to talk radio dot NYC for the podcast archives and any other assorted tidbits
00:56:11.880 --> 00:56:22.320 Eric Sarver, Esq.: And again that's Friday 11am eastern standard time for those who might be watching from other coast, whatnot and excellent Stephen, I must say. It's been great having you on the show tonight.
00:56:23.490 --> 00:56:35.640 Eric Sarver, Esq.: Once again, everyone Stephen Fry always Friday on Tucker NYC talking about issues involving small midsize businesses and also having some fun and just handing them along the way. There we go.
00:56:37.230 --> 00:56:40.770 Eric Sarver, Esq.: I remember that from our show. There we go. See, that's kind of fun you can have in a Friday.
00:56:41.790 --> 00:56:47.190 Eric Sarver, Esq.: Once again, Stevens also with extensive group and I'm Eric solver employment law business attorney.
00:56:47.640 --> 00:56:56.760 Eric Sarver, Esq.: I like to help small businesses and mid sized companies as well with their employment law and labor law issues and this show can shed some light on those issues, then it's just
00:56:57.270 --> 00:57:10.470 Eric Sarver, Esq.: makes me so happy. So Stephen. Thank you for being here. We gotta wrap up. But folks, if you like the show. Tune in Tuesdays 5pm eastern standard time here on talk radio dot NYC. Thank you.