The following lists the products we provide and some of the questions you can ask your client to identify what's right for them:
Professional Employer Organization (PEO)
- Is it time for your client to hire a Human Resource Director or add an additional staff member to the HR department?
- Is it difficult for them to understand the ever changing federal and state regulations?
- Are they spending additional money on hiring attorneys, accountants, fighting unemployment compensation claims, and processing payroll?
- Is too much time and money spent on health insurance and workers compensation issues?
If the answer is yes, then an outsourcing solution might be right for your business.
Administrative Service Providers (ASP)
- Are your clients unhappy with their current Payroll service provider?
- Are your clients paying your Payroll provider too much for the services they provide?
- Do your clients need help in the area of Human Resources, Risk Management or Health and Welfare Administration but have their Workers Compensation and health insurance in place?
- An ASP provides all the services of a PEO without the insurance component typically in an unbundled format so the client picks as few or as many services as they desire.
If the answer is yes, then an ASP might be right for your business.
PEO Source identifies a PEO or ASP to handle all the tasks listed above. These organizations are literally professionals at dealing with HR issues. By outsourcing the responsibilities to them, your clients business frees up time and money that can be spent on revenue generating activities.
Here at The PEO Source we determine:
- The specific tasks your clients wants to outsource
- The ideal outsourcing solution whether a PEO or ASP, to perform the tasks
- The costs and benefits of outsourcing
Employee Management and Administration
Answering yes to any questions below means the business is a good candidate for a PEO or ASP solution:
- Are your clients spending an ever increasing amount of time and money spent administering the workforce?
- Are your clients managers tired of spending time on issues such as tracking employee vacation time and sick days?
- Is it continually difficult for your clients to understand the ever-changing federal and state regulations?
- Is their business spending additional money on hiring attorneys, accountants, fighting unemployment compensation claims, worker compensation premiums, and payroll processing companies?
- Do your clients have a need for assistance with managing risks associated with having employees perform their duties?
Anyone involved in the HR area of an organization understands the extensive time commitment and costs related to the above issues. They also understand that it is very difficult to achieve any economies of scale with respect to managing these functions. A PEO, if properly managed and structured, has the ability to successfully manage these issues for your clients as well as possibly short and long term cost savings in doing so.
- Are your clients finding it necessary to hire a Human Resource Director or add an additional staff member to the department?
- Do your clients feel that they are spending too much money on outside consultants related to employment law compliance?
- Are they finding it more difficult to understand the ever-changing federal and state regulations?
If the answer is yes, then a Professional Employer Organization might be just right for you.
With the constant change in Federal and State Employment Law, it is increasingly necessary to have the best and brightest protecting your clients company from not being compliant with the new regulations. A PEO offers your client’s access to HR and Employment Law Professionals keeping them focused on your core business.
For most small and midsize companies, processing payroll is a costly and time-consuming task. Firm's must employ and train personnel to perform payroll-related tasks rather than profitable core business functions. We work with the nations leading ASO's Administrative Service Organizations, ASP's Application Service Providers, BPO's Business Process Outsourcers, and PEO's Professional Employer Organizations, which is why PEO Source is uniquely qualified to provide your company with innovative unbiased solutions to your payroll processing obstacles.
Processing payroll is much more than just delivering a paycheck on time. It involves the withholding and payment of payroll taxes, accurately accounting, deducting, and disbursing employee contributions, deposits, garnishments, loans, and premiums. At PEO Source, we see beyond the administration, compliance and filing of W2 's.Payroll can be the heart of a sophisticated Benefits Administration System where employee premium dollars are maximized under Section 125 of the IRS Code. FSA's or Flexible Spending Accounts allow employees to use pre-tax dollars for health, dental, and vision premiums, unreimbursed medical expenses, dependent care, even transit and parking costs. Congress recently approved the use of HSA's - Health Savings Accounts and HRA's - Health Reimbursement Accounts, further increasing the complexity for benefit administrators.
Payroll is the foundation for today's "state of art"Employee Management Systems. The most comprehensive include innovative functions that save time, enhance security, eliminate costly data entry errors, and assure accurate transactions with features like automated electronic attendance stations. Self-service web portals that safely and securely allow employees to access their 401k accounts, review benefit plan designs, claims status,HSA statements, pay history and personal time accounts. Managers can instantly access company policies, procedures, forms and statements assuring that prompt, accurate documentation of any incident is reported. Efforts spent on quick conflict resolution have proven to be the most cost effective measures for reducing and eliminating claims.
Federal and State payroll administration responsibilities are becoming more and more complex for business owners. The complexity centers around changes in withholding rates, documentation and filing requirements, the ability to structure a company's employee benefit plans in such a way to take advantage of the tax benefits available in the income tax system, and the determination if an individual should receive a Form 1099 or W-2.
A growing trend is to outsource this responsibility to a Professional Employer Organization (PEO) or Administrative Service Provider (ASP). By doing this, the Employer is not only able to reduce the costs of payroll administration compliance, but the Employer is also able to receive professional guidance and support to take advantage of all tax incentives available to them under the law.
PEO Source views risk avoidance, management, and workplace safety as a team goal. We work with leading Professional Employer Organizations whose primary focus is improving workplace safety and eliminating the behavior and hazards that can cause claims.
Our firm, together with your clients management and professional employer service provider can implement incentive programs designed to develop safe workplace habits, raise awareness to the benefits of eliminating claims, and motivate employees to actively avoid and reduce claims. When a claim does occur, prompt action is taken to provide your employee high quality professional care, support, as well as alternate and light duty assignments to promote returning to work in the shortest time.
PEO Source has the remedy for companies who have experienced a poor Workers Compensation claims history, or are in industries where coverage has become unaffordable or unavailable. We help companies to significantly reduce Workers Compensation insurance costs by implementing "Cost Sharing" arrangements with qualified Professional Employer Organizations who have developed an appreciation for the unique challenges their business presents to safety managers.
The cost of workers compensation insurance today is unbearable. Businesses are spending so much money on this insurance that they are unable to grow the business and achieve profitability. Many business owners have reached the point of despair, feeling like there is no option. Some even have to close down their businesses. Fortunately, there is a new option. A Professional Employer Organization (PEO) offers businesses’ workers compensation insurance at rates that are fare and affordable. In many cases by using economies of scale, a PEO gives your clients businesses access to rates they could never acquire alone. A PEO offers these additional benefits:
• Eliminate Down Payment Requirement
• Audits and premium audits
• Employment practices liability insurance
• Safety review
• Unemployment claims
• Conflict resolution
• Employee handbooks
• Personnel guide, forms and policies