From my first day on the job, the Split Direct Deposit Method (DDP) has been my preferred method of collecting premiums. In fact, I even prefer it to traditional payroll deduction! It’s the method we used when we started the company, and it simply makes good sense. Have you seen the video (HERE)?

Let’s be clear, BOTH of our methods:

• collect funds on payday so BOTH feel like payroll deduction.
• allow you to open a payroll account (so you get all the price breaks & policy offerings* of a good old fashioned payroll account).
• allow the employee to break down payments on their pay cycle – just like traditional payroll deduction.
• mean the employer NEVER PAYROLL DEDUCTS & NEVER GETS A BILL. ZERO administration!

So what’s the big deal about DDP? Why not just leave it at Bank Draft & be done with it. I mean, we just saw that they both accomplish the same thing, right?

Yes, but DDP means that every time payroll runs, the funds are automatically deposited directly into your policyholder’s Piedmont account. In short, we don’t have to go get them. It’s automatic. It’s simple. It’s clean. And it feels exactly like payroll deduction to the employee.

But I also know that the typical reason agents seek us out is because a payroll person has stated in no uncertain terms that they do not want to lift a finger to administer the benefits program in question. It usually goes something like this:

“You can talk to our people & they’re welcome to get whatever they want, but I’m not gonna payroll deduct a dime to do it.”

And because Split Direct Deposit sounds a lot like Payroll Deduction, the agent:

• Doesn’t bring up Direct Deposit at all, or
• Brings it up & the payroll person shoots it down, saying, “I told you I don’t want to administer this.”

Either way, the agent shrinks from the recommendation. And that’s a shame because DDP is truly “set it & forget it.” Your payroll person enters the account information into the system ONE TIME & the system automatically sends us the funds every time payroll runs. There is literally nothing for the payroll person to do. REMEMBER: They never see a bill.

And we even do a pre-notification (if the employer is okay with it) to ensure the deposits are correct before they go “live.”

I like clean & simple. How about you? If you have an idea about how to better communicate DDP to your payroll administrators, shoot me an email and let me know. If you’d like to schedule a conference call with said payroll person, I’m up for that, too.

And remember, this video is a big help. You can play it right on your phone or tablet during your appointment.