How Does a PEO Reduce Employer Liability?

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Small business owners have a lot to worry about when it comes to liability. Not all of us turn a large enough profit to easily settle lawsuits and claims should a workplace problem arise.

Through the co-employment business model, PEOs reduce an employer’s liability in the following ways:

Payroll: There are hundreds of regulations surrounding payroll, all of which businesses must comply. Learning all of them can be extremely tedious and confusing. With a PEO managing your payroll, you can rest assured knowing it’s handled by the experts. In a co-employment relationship, your PEO assumes liability for payroll activities, which is important if there is fine or lawsuit surrounding payroll.

Workers Compensation: Many PEOs provide workers compensation insurance as well, which takes another form of liability off your plate.

Risk Management: In addition to providing insurance, some PEOs will provide risk assessments for your workplace and even safety training for employees to limit the overall risk of your workplace.

EPLI: Employment Practices Litigation Insurance (EPLI) protects employers from employees or former employees who wish to sue them. Many PEOs offer EPLI through the co-employment relationship.

To limit your Company’s liability and simultaneously improve your company’s overall cash flow position, contact Employer Solutions Plus.

Employer Solutions Plus Client Highlight: Tampa Law Firm

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Situation:

A renowned Tampa Law Firm with 30 employees was looking for ways to operate more cost-effectively and efficiently. The Law Firm was using a traditional payroll company for payroll services and outside vendors for health benefits, 401k plans, and workers compensation insurance.

The firm was lacking in the expertise and management of policies, procedures and compliance. In addition, state unemployment had significantly increased that year and the firm had some employee issues that resulted in a sizable outflow of cash.

The firm engaged Employer Solutions Plus to analyze its current situation and offer a number of cost effective alternatives.

Solution:

Employer Solutions Plus provides PEO Strategies, Payroll Only Solutions, Health Insurance Options, Employee Benefits and Ancillary Benefit Programs. We represent multiple providers in each product category which allows us the flexibility to customize a cost effective solution to meet the individual needs of our clients.

At first, the Tampa Law Firm was unsure about a PEO’s ability to actually save their Company money. After multiple meetings and negotiations, Employer Solutions Plus was able to save the client a significant amount of money from moving just the firm’s payroll over to a PEO platform. In addition to saving money, the firm gained a completely customized on-line payroll system with the ability to easily access payroll reports, employee data, employee forms and more.

Additional vendor management provided by Employer Solutions Plus resulted in the following:

  • The ability to control costs with a single source solution to discount state unemployment and workers compensation
  • A continuation of working with the firm`s outside vendor for health insurance. But, Employer Solutions Plus brought in a health insurance broker that came up with creative ways to offer more plans, make it more cost effective for the employees, and offer ancillary benefits to help put money back in the employees’ pockets.
  • One on one health insurance enrollment so that employees understood what plans were best for them.
  • EPLI insurance at no additional cost to help against future employee issues
  • Updated policies and procedures as well as customized handbooks
  • Guidance with employee terminations and new hire procedures

One immeasurable solution is the peace of mind delivered to the owner/partner of the firm, who now knows that with one call or email the firm’s payroll, taxes, benefits, workers comp, compliance and more can be taken care of.

For More Information:

Is your vendor set-up in need of a professional analysis? If you’re looking for ways to save money and operate more effectively and efficiently, contact Employer Solutions Plus.

Scaling Your Start-Up

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Did you just recently launch a new company? Congratulations! Starting your own business is both an exciting and trying time. With all that’s going on, it may be difficult to think about your company’s long term plans. You may be working day-to-day and week-to-week to closely monitor each and every task and ensure a solid foundation for immediate success – but don’t forget about building a scalable business!

One of the most common mistakes business owners make is forgetting to prepare for long term success and growth. Are you prepared for next month, if next month means bringing on a new account that requires two new hires?

If something happens to you this week, can someone else handle business in your absence? Being prepared to successfully scale up, or scale down, often requires the support of a partner that has access to the multiple resources necessary for scaling.

At Employer Solutions Plus, we work with many companies. Whether you’re a company of 2, or 200, many of you are in need of the following services: benefits, payroll services, HR solutions, employee management, risk management, workers compensation insurance and more.

Many of these services may seem remotely unimportant or as if they’re operating behind the scenes until new hires come along. They’ll then become a critical part of your company’s day-to-day operations and efficiency. Our team is prepared to grow with you in the following areas:

  • Benefits/Group Plans
  • Payroll
  • Tax filings: Withholding, FICA, Federal & State Unemployment
  • Workers Compensation Insurance
  • Human Resource Management
  • And More!

When it comes time to take on new accounts or expand into a new market, you want to be ready to react, not retract. Employer Solutions Plus works side by side with clients to ensure that companies scale up successfully, without negatively affecting or interrupting cash flow, the bottom line, employee benefits or compliance.

To learn more about preparing for future growth, contact our team.