(2 votes, average: 5 out of 5)
Loading ...10 Problems a PEO can Solve
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1. Time
PEO’s remove non-productive tasks that take away time and resources so you can focus on bottom line activities such as strategic planning, marketing, and customer service. Could you make more money if you had time to work your business? Time is money in business.
2. Cash Flow
PEO’s improve your cash flow by integrating most of your employee cost-centers into a single cost factor; including employer matching FICA, FUTA, SUTA, Work Comp, Administrative Overhead, and employee benefits. Your cash flows in "real-time" right along with your business income.
3. Workers’ Compensation
PEO’s make buying and maintaining work comp easier than ever. No more BIG down payments. No more year-end premium audits. Because your work comp is built into your PEO rate, you pay as you go which frees up more dollars for company growth.
4. Employee Benefits
Most PEO’s have many "turnkey" benefit plans in place for your employees. Imagine instantly adding a 401(k) plan, a Section 125, Group Health, Vision, Dental and Life, and other valuable benefits to your business without spending a fortune. Best of all, the PEO’s manage the programs, payroll deductions, and benefit records, making employee benefits easier than ever to provide and manage.
5. Government Compliance
PEO’s simplify all the rules and regulations associated with employing people. They can assist you in complying with all federal, state, and local laws and statutes. PEO’s provide you with legally required employee forms and paperwork. They even maintain and store your employee files.
6. Human Resources
7. Operating Leverage
8. Employee Turnover
9. Risk Management
10. Payroll & Taxes
Posted November 6th, 2009 by Jessica Spinks - Posted in Benefits, Customer Service, Health, Human Resources, Immigration, Performance Reviews, Productivity, Recruiting, Wages, Workers' Comp | | 0 Comments
(1 votes, average: 4 out of 5) Loading ...HSA’s for Dummies
Top 8 Things to Know about Health Savings Accounts.
HSA’s are a hot topic, especially this time of year. Some people might be hesitant to elect one as their insurance plan, due to lack of information. They might greatly benefit you as an employer and your employees.
1. Reduction of $- Reduce employer and employee premiums. You can utilize this feature by electing a high deductable plan that is compatible with an HSA
2. Deliver More- You can deliver more to your employees. Instead of paying all the money to the insurance company you can deliver more value to them by paying the dollars into their HSA account.
3. Save- Save on taxes, because contributions are pre tax.
4. Portable- If you pull out of the plan the money is always yours. It is not a "use it or lose it" deal.
5. Small fees- Account maintenance fees are small and tax deductable.
6. Reluctance from agents- Usually insurance agents are reluctant to offer these because it reduced their commission.
7. Stop Funding- As an employer you dont have to fund forever. It can be a temporary gift until a good balance is reached.
8. Share- With an HSA you can share the management of healthcare decisions with your employees to get the biggest bang for your buck.
Posted June 1st, 2009 by Jessica Spinks - Posted in Benefits | | 0 Comments
(3 votes, average: 5 out of 5) Loading ...Launch a Wellness Program for Your Employees
Creating a wellness program for your company can mean more than just getting in shape. It can mean a whole new lifestyle for all your employees. When you are feeling healthy, you are more energetic and motivated to face each day. Who wouldn't what all their employees to feel great and perform at their best?
In an article from Business Week, "Some companies hand out small cash bonuses or gift certificates for reaching predetermined milestones. Others offer discounted insurance premiums. Still others make it a “team thing” and set up competitions between departments. "
By making heath exciting, everyone will want to join in and be a part of the new family. Make it a priority in your company and watch the benefits exude from your employees.
Posted March 14th, 2008 by admin - Posted in Benefits, Health, Human Resources, Performance Reviews, Productivity, Recruiting, Workers' Comp | | 3 Comments
(2 votes, average: 4.5 out of 5) Loading ...Please, Stay Away if You’re Sick
If you are sick, should you go to work anyways? This is a great debate among many. Staying home to watch tv and lounge on the cough is an easy suggestion, right? To some it may be, but to others a day staying home from work is just creating more work to go back to, or some feel they are indespensible and can’t miss a day, while others just don’t have the time to take work off. Whatever the reason is, is it really a good idea to go in to work when you are under the weather?
An article from Business Week that I ran into goes into great detail of the downfalls of having a sick co-worker show up on the job. “Illnesses like the cold and flu can be spread by physical contact. When we're sick, the people with whom we come into physical contact have a significantly increased risk of coming down with the illness, according to virologists, epidemiologists, and other experts. There is a causal relationship between being sick with a cold or the flu and making others sick by touching them directly or handling an object that they soon touch themselves.”
Some other points brought up in the article for staying away from the office were, if we can actually perfrom to the best of our abilities while not feeling well, getting other co-workers sick, getting co-worker’s families sick, and the last one here that caught my attention, “going to work sick is unfair to your employer. According to a report published in The New York Times in 2006, researchers at Cornell University found that ill workers on the job could account for up to 60% of corporate health costs. The recently coined phrase "presenteeism" speaks to the financial downside of overly motivated workers who bring their upper respiratory illnesses to work with them.
All in all, is it fair to yourself to work when you are not feeling well? I guess that is up to you.
Posted February 29th, 2008 by admin - Posted in Benefits, Health, Human Resources, Other, Productivity | | 0 Comments
(No Ratings Yet) Loading ...When you asked them, what did they say?
In meeting with some business owners lately, I started noticing a pattern that could very well be the root of many HR problems…
"I want to increase our benefits offering to our employees…" OR "We need better dental insurance" are phrases we (in the HR industry) have heard many times. Often, these are presented as "THE SOLUTION" - So what is the ACTUAL problem? Turnover, Morale, Productivity, Recruiting, etc.?
So when sitting with these business owners, I find myself asking the same question time and time again:
"So when you [business owner] asked your employees what is the top 5 reasons you (hate, love, would leave, would stay) working here, what did your employees say?
MOST COMMON ANSWER - "Well… I didn't ask"
No matter what the problem - DON'T COME UP WITH THE SOLUTION IN A VACCUMM!!! You might just spend a LOT of money trying to fix a problem on the wrong end…
Just food for thought -
Harry Glazer
Posted January 30th, 2008 by Harry Glazer - Posted in Benefits, Health, Human Resources, Productivity, Recruiting | | 0 Comments
(No Ratings Yet) Loading ...AZ Minimum Wage Change January 1
Minimum wage in Arizona is changing just like the year is. It’s going up to $6.90 per hour effective tomorrow. Minimum wage will also be adjusted based on the cost of living yearly. Is it really a good thing to pay a higher minimum wage? What kind of message is it sending, is what I want to know?
Is this a move made to encourage legal workers to step into these low-end positions as illegal immigrants are being weeded out of Arizona business? Just a thought.
Posted December 31st, 2007 by admin - Posted in Benefits, Human Resources, Immigration | | 0 Comments
(No Ratings Yet) Loading ...The Karma of Health Care and Employee Benefits
Companies are trying to cut costs…the usual. What ever happened to companies trying to supply benefits for their employees?
It seems simple, if you are an employer and want to have an edge on all the other employers out there, offer great benefits. This will not only give you the benefit of attracting employees, but it also gives you a distinct advantage of retaining them.
This article, from the azcentral.com touches on the increasing costs of health care and how employees are having to pay a higher portion of the costs incurred. A section states, “56 percent, plan to trim their health-care tabs next year by requiring that their employees make a larger premium contribution or pay higher deductibles, co-pays or out-of-pocket contributions, according to survey findings from the Mercer Health & Benefits report.“
How can you go about reminding these employers the importance of having an employee who feels valued? If you scratch your employees back (hint…benefits), they will scratch yours (productivity).
Posted November 14th, 2007 by admin - Posted in Benefits, Human Resources | | 4 Comments
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