We all want to grow our revenue and our compensation. And there are two key components that make the biggest difference when it comes to doing that—the law of compensation and the laws of numbers. To understand more about them, we need to start with the five laws of stratospheric success found in The Go-Giver by Bob Berg and John David Mann
The second law is the law of compensation. It states that your compensation is derived from how well you serve people as well as how many people you serve. Now, we all know how to drive value in our business by leveraging the opportunities of retirement income planning. However, the second component, the law of large numbers, is often overlooked.
How do we expand our influence on a greater number of clients and prospective clients? I’m going to suggest that expanding your markets is one of the best ways to do that. And pension risk transfers may be the easiest way to do that, for several reasons.
First of all, all public information is available and easily accessible through Ash. In addition, now is the best time ever to reach CEOs, CFOs and HR directors to talk about taking this risk off the table. Even more importantly, you are going to help more Americans retire more securely than ever before.
In America, there are more than 22,500 defined benefit plans that are already frozen, meaning that they are no longer helping attract or retain quality workers. And those workers who are no longer getting additional benefits, along with any pension liabilities, continue to show up on the balance sheet. Due to the Pension Protection Act, it no longer appears as a footnote—instead, it’s front and center.
Therefore, timing is perfect to be talking about pension risk transfers. Give us a call at (800) 589-3000 to learn more about our capabilities when it comes to pension risk transfers. We can help you grow your business and attract quality clients, and most importantly, remain relevant in the greatest shift from the workforce to retirement that we’ve ever seen before.
By mastering the law of compensation and the law of numbers, you can provide more value to your business and your clients.