Staff Brokers provides back-office solutions offered by PEOs, also known as Professional Employer Organizations, to fulfill the human resource needs of todays businesses. Outsourcing by utilizing a PEO will give you access to a team of specialists who provide expertise in a number of areas including: payroll, workers compensation, human resources, compliance, benefits, and risk management. Businesses of all types can benefit from working and partnering with PEOs.
The Benefits & Offerings of PEO
Co-employment simply means the employer and PEO contract to share and allocate employer responsibilities and liabilities. PEOs can assume responsibility for risk management, human resource services, payroll administration, and employee benefits administration. Employers can receive support with human resources to assist them with employment law compliances thus allowing them more time to focus on the business of their business.
The PEOs goal is to help their clients by saving time and money, but the saving of time is what makes most business owners appreciate the PEO concept the most. This gives the already overworked business owner more time for sales, marketing, or to make that all important little league game. Employee liability management is just one area that plays a big role in todays businesses.
PEO Employee Liability Management Includes:
■Work Compensation Coverage & Claim Resolution
■Employment Practices Liability Insurance
■Safety Review & Policy Development
■Unemployment Claims Management
The Easiest way to save money with PEO
For most businesses, workers compensation has become an increasingly important and specialized product. As the top line sales for many companies have diminished, the containment of payroll expenses has become critical to maintaining a successful operation.
Although some insurance companies have retreated from various industries in recent years, many insurance carriers and PEOs are responding by creatively packaging and presenting work comp. products to their clients. These entities recognize that businesses are unique in the type of clients they serve and in how they manage their risks.
Workers compensation rates are based on work comp. mod scores - which reflect the safety practices and the amount of work comp. claims of an individual business. PEOs have departments specializing in claim management with an eye on closing claims quickly. Improved claim management lowers mod scores, along with workers compensation rates, allowing the PEO to pass these savings on to their clients. PEOs also have an in-house legal department should a claim go south and the legal system becomes a requirement.
When using a PEO, workers compensation premiums are collected on a per-payroll cycle basis rather than in a lump sum down payment - immediately helping with cash flow. In this pay-as-you-go system, there is never a need for audits again, thus saving considerable time & money!
Workers compensation rates provided by the PEO are often 20% to 30% less than current rates depending on the size of your workers compensation policy. These savings to the bottom line directly increases profits and makes your company more competitive.
PEOs Simplify The Most Time Consuming Tasks
Imagine a business environment where your time, energy, and resources are focused on increasing your companys bottom line. As the owner or manager of a company, you are free from the headaches, confusion, and hassles associated with managing Employment Administration.
PEO Employment Administration Includes:
■Payroll Tax Filing
■FICA, FUTA, and SUTA
■Human Resources Management Reports
■Direct Deposit, Pay Cards
PEOs Deliver Accuracy You & Your Employees Depend On
Payroll administration is the most frequent function preformed in regards to your employees yet carries the most immediate impact for those employees. For these reasons, the highest level of accuracy, professionalism, and individual attention are required. PEOs offer a myriad of specialized, accurate, and on-time payroll and tax services backed with skill, competence, and experience.
PEOs bring their policy buying power and multi-million dollar technology platforms to clients - offering expanded services and greater value than one may be able to obtain on their own. State-of-the-art payroll processing software coupled with online connectivity provides the ability for reporting hours online, gathering of all employee information, and generating payroll reports at your convenience. These core services provided by PEOs reduce errors and improve productivity. As a client of a PEO you will enjoy a personal relationship with a dedicated team of payroll and billing professionals.