Interview with Candi Kaplan & Sarah Kaplan of Kaplan Benefits Group, LLC: “Customers’ Education Regarding the Financial Landscape Has Changed Everything”

June 25th, 2014
Written by: TPO

This interview is part of a yearlong retrospective blog series commemorating TPO@20! – TPO’s 20th Birthday. These conversations with TPO partners, clients and executives focus on what has and hasn’t changed in “how we work” over the last two decades–and what we can learn for the next 20 years. This interview is with Candi Kaplan and Sarah Kaplan, President and Vice President, respectively, of Kaplan Benefits Group, LLC, which has been a TPO partner for almost 20 years.

TPO: OK, let’s start with an easy one. What do you do?

Candi Kaplan: Kaplan Financial Group was founded 35 years ago, originally focused on insurance. Within three years, we saw that clients were demanding more than just insurance advice. So I decided to sit for my CFP® (CERTIFIED FINANCIAL PLANNER™) designation. Over the years, we continued to expand the services we offer clients, and in the mid-1980s, founded Kaplan Benefits Group.

Sarah Kaplan: I oversee Kaplan Benefits Group—the division of Kaplan Financial Group that helps organizations identify employee benefit programs. We consult with TPO’s team to put packages together that make sense for their clients.

TPO: And what were you each doing in or around 1994?

Candi Kaplan: That was around the time I first met TPO. I was very impressed with their approach, and we formed a partnership to the mutual benefit of our clients. In 1994 companies were struggling more so than they are today because the field was not as sophisticated. They were struggling to handle employee relationships, make things go smoothly and put systems in place. HR wasn’t as professionalized as today. There’s been a big evolution in the HR field in the last 20 years.

Sarah Kaplan: I was almost in high school then! Both of my parents were insurance professionals, and I did not want to be part of the business world and certainly not insurance! In my senior year in high school, I figured out that I was probably pre-programmed to be successful in business more so than anything else, and went to the Smith School of Business at the University of Maryland.  Now I’ve been in the business for almost 11 years. During that time, as Candi said, there’s been a tremendous increase in professionalism in HR.

Candi Kaplan: I remember when the “President’s Secretary” handled personnel. HR is now a dedicated function, and the landscape has changed toward making HR a lot more integrated with the day-to-day functions of a company. Clients have experienced the impact that good HR and good management can have.

TPO: Technology is one of the obvious things that has dramatically changed how we all work in the last two decades. How has it impacted your worlds?

Candi Kaplan: I spent the first 15 years of my career playing telephone tag. There was no communication other than that. You had to find people by phone. The computer has made us a lot more efficient. I can communicate with many more people per day now. I remember a business partner in the ‘80s who wasn’t particularly innovative saying that, “A computer can make an OK secretary very efficient.” That’s how some people thought of the computer —as an assistant. Of course it has grown up to be something very powerful that can now handle business operations. I welcomed the modernization—the increased efficiency.

Sarah Kaplan: Twenty years ago, I had an AOL account, a pager and my first computer that didn’t run DOS. AOL Instant Messenger came out in my first year of college, and I think people started getting cell phones around that time. In terms of business, the technology is so powerful that people struggle with setting expectations about things like how quickly messages will be returned. With some clients, technology has created the expectation of immediate turnaround. So you have to create an environment with stakeholders–staff and clients–about culture to make sure you manage expectations of how business will be conducted.

TPO: In terms of changes in your industry that have had a significant impact on “how you work,” what’s the first thing that comes to mind?

Candi Kaplan: A lot has changed as a result of the availability of information, which has made consumers more educated. Years ago I had to teach people everything about products, strategy and expectations. Most people had no idea what I was talking about. Now they are more aware of things like how products work and how the economy impacts their ability to retire. It’s a much more informed marketplace. Now, all the information isn’t always correct, but people have more of an understanding of what they need to do to be financially successful. And in their businesses, frankly, the media and the availability of information have changed every business and every approach to sales, marketing and service.

Sarah Kaplan: I agree that the single biggest contributing factor is the availability of information. People can watch a TV show on how to manage their business, where someone comes in to fix their operations or marketing or staff. People can buy a Kindle book and gain expertise on how to run their business. I think in many cases, it gives these business owners a false sense of expertise in these areas.

TPO: Thinking back 20 years, what was your definition of Human Resources then and what is it now?

Candi Kaplan: HR today is bound by a lot more regulation and legislation: HIPAA, compliance, who talks to whom, how processes are structured. As I mentioned before, it’s a lot more professional. In years past, we could talk to a provider and advocate for the client. Now we’re more structured about what we can know and repeat. I could walk in and tell if a company had HR issues: was their paperwork in order, were their employees happy? I could tell. I don’t know if it is that obvious these days. That’s why we work closely with TPO—we really rely on them as a strategic partner.

Sarah Kaplan: I actually think that today you can get more clues with technology and access as to whether an organization’s HR is in good shape–about how they conduct business. You get a sense of what the standards are in the business community, which makes it easier to identify who doesn’t have their act together. Another big change has been the trend towards what I’ll call the “all-in-one” solution for business services. You see PEOs (professional employer organizations) and payroll companies presenting an end-to-end offering that in many cases is a “low cost” solution—a package of HR, payroll, benefits and training services. It can be a very appealing, sexy offer. We–and TPO and our other partners—believe in the more “best of breed” or specialized approach, where, if you need help in a certain area you need to talk to an expert in that area. It is just very difficult for an “all-in one” provider to be great at all things. And our culture and personal level of service means clients are likely to have a lot more continuity with us than with a very large corporation.

TPO: Name two things about “how we work” that haven’t changed in the last two decades.

Candi Kaplan: Relationships. That’s been the strength of our business. The trust between us and clients is everything. We have strong relationships with our clients—and now their children and grandchildren. I think too often big organizations change based on flavor of the month; we’ve stayed constant.

Sarah Kaplan: There’s still a need to keep growing and be better—to always be improving, as business professionals, as consultants and as advisors. We need to find ways to do business more efficiently. You have to continually be separating yourself from those who don’t treat clients the way we think they should be treated—that’s keeps us passionate.

TPO: What impact has TPO had on your business?

Candi Kaplan: We always feel so much better when we deal with clients and are able to bring a value add via our partners. Our client gets the benefit of our service and TPOs. TPO gives us and our clients confidence.

Sarah Kaplan: As I mentioned earlier, more and more these days people are hearing about the “one stop shop” for benefits, HR and payroll. Our philosophy is specialization—that no one company can be best at everything. So for us, having a trusted strategic partner like TPO makes us stronger in the business community. You have to know and be mindful of what you’re good at, and what you’re not. So we bring in and refer our clients to other great specialists. We know they will treat our clients well and complement what we do for clients. Having a partner like TPO has made us stronger as a business. If we need them they’re there. TPO is an organization of professionals that can make a difference with our clients. At the end of the day, we back each other up and do what’s best for the client.

TPO: Thank you both so much for helping TPO celebrate its 20th birthday!

Candi Kaplan: It’s our pleasure.

Sarah Kaplan: Thank you for including us!