As law firms grow, so do the complexities of managing employees. Hiring more employees equates to more time spent making sure the practice is in compliance with the ever-changing list of employment laws. Managing compliance can interfere with the precious time needed to focus on your practice or an important case. You’re very busy practicing law and defending your clients, but who is taking care of you?
Law firms that want peace of mind surrounding compliance choose to engage in the co-employment relationship, which also happens to save them time and money! In the co-employment business model, the PEO’s job is to ensure compliance, but it’s also in their best interest to perform this service as best as possible.
Why? Well, under the co-employment relationship, employees are co-employed – which means that the PEO is sharing the risk of managing your employees. If your firm is slapped with an EPLI claim, this becomes the PEOs situation as well.
PEOs’ best practices include HR and compliance audits to prevent as many claims as possible. At the onset of a PEO relationship and periodically thereafter, the PEO will perform a complete audit of your firm’s policies and procedures as it pertains to hiring, firing, promotion, demotion, workplace safety, employee training, and more.
It is not uncommon for PEOs to also provide law firm partners or hiring managers with management training courses to review best practices, employee relations, employee communications and various employment-related laws that need to be abided by.
Best of all, PEOs provide ongoing HR support inside and outside of the office, especially concerning the management of faulty claims. If an employee of yours makes a claim, it is up to the PEO to fight that claim in court… PEOs manage and fight all types of claims such as unemployment claims or workers compensation claims.
For more information on PEOs or to determine if a PEO is the right solution for your firm, please contact us.
“Pay As You Go” Work Comp Solutions in Tampa
/in Workers Compensation /by adminWorkers compensation insurance is required for almost every type of Tampa business, and while purchasing this insurance is necessary, it’s often very painful. If you’re in a high risk industry, the rates can be even more debilitating.
Have you heard of “Pay As You Go?” Employer Solutions Plus offers “Pay As You Go” programs linked directly to your payroll. Through this program, workers compensation insurance rates are calculated on actual payroll data and not on estimates. This approach eliminates large up-front deposits, end of the year payments, audits, and expensive finance charges.
Many Tampa clients choose the “Pay As You Go” route based on the elimination of down payments alone. We’ve had many clients that were required to put down as much as 100% of the estimated premium when working with previous insurers.
Say goodbye to that big financial burden! Interested companies must meet certain qualifying criteria, so be sure to contact us to see if your company qualifies! If you have an existing policy, no need to worry. Employer Solutions Plus can take a look at it for you, and determine what better options are available.
To reach us directly, visit our contact page.
What are Section 125 Tax Savings Plans?
/in Benefits, Compliance, Taxes /by adminWhat you need to know: A Section 125 Plan provides tax savings for both the employer and employee by reducing employee benefits from gross salary prior to the calculation of federal income and social security taxes. This is allowed under Internal Revenue Code Section 125 – which is where this plan gets its name! You may have also heard this plan referred to as a “Cafeteria Plan” because employees “choose” from a selection of two or more benefits – similar to the cafeteria concept, where visitors choose from different foods.
This plan provides employee participants an opportunity to receive certain benefits on a pre-tax basis. A Section 125 Plan is a separate written plan maintained by an employer for employees that meet the specific requirements of, and regulations of, section 125 of the Internal Revenue Code (IRC). Do your employees meet the specific requirements of the IRC?
How we can help: Employer Solutions Plus can almost immediately tell you upon consultation if your company and employees qualify for such a plan. If your company does qualify, the written plan must specifically describe all benefits and establish rules for employee eligibility and elections – another area Employer Solutions Plus can help with.
Qualified benefits include: accident and health benefits, dependent care assistance, group-term life insurance coverage and HSAs (Health Savings Accounts). If you currently have a plan that only offers employees a choice between taxable benefits it is not considered a Section 125 Plan.
For more information on Section 125 Tax Savings Plans or Cafeteria Plans, contact Employer Solutions Plus today.
How Law Firms Stay in Compliance
/in Compliance, HR Solutions for Law Firms /by adminLaw firms that want peace of mind surrounding compliance choose to engage in the co-employment relationship, which also happens to save them time and money! In the co-employment business model, the PEO’s job is to ensure compliance, but it’s also in their best interest to perform this service as best as possible.
Why? Well, under the co-employment relationship, employees are co-employed – which means that the PEO is sharing the risk of managing your employees. If your firm is slapped with an EPLI claim, this becomes the PEOs situation as well.
PEOs’ best practices include HR and compliance audits to prevent as many claims as possible. At the onset of a PEO relationship and periodically thereafter, the PEO will perform a complete audit of your firm’s policies and procedures as it pertains to hiring, firing, promotion, demotion, workplace safety, employee training, and more.
It is not uncommon for PEOs to also provide law firm partners or hiring managers with management training courses to review best practices, employee relations, employee communications and various employment-related laws that need to be abided by.
Best of all, PEOs provide ongoing HR support inside and outside of the office, especially concerning the management of faulty claims. If an employee of yours makes a claim, it is up to the PEO to fight that claim in court… PEOs manage and fight all types of claims such as unemployment claims or workers compensation claims.
For more information on PEOs or to determine if a PEO is the right solution for your firm, please contact us.
Please Help. I Hate Payroll Administration!
/in Payroll Administration /by adminAs companies grow, so does their payroll. What may have started out as a nice easy process of distributing checks once per week could now be a nightmare following the hiring of more employees. You aren’t alone.
Payroll administration is a frustrating and often confusing area of HR management, especially for small to medium sized business owners that do not have a full time payroll administrator on staff. Are you (or your HR personnel) capable of managing the following? Do you have the time?
These are all basic functions of payroll administration companies, and even professional employer organizations (payroll administration is often built into the co-employment solution). Employer Solutions Plus is skilled at determining which payroll outsourcing solution is the best fit for your company – whether that is a payroll only solution, or a comprehensive full suite HR management solution such as a PEO.
We represent multiple providers in each product category– This allows us the flexibility to customize a cost effective solution to meet the individual needs of our clients. Please contact us today to learn more about payroll administration solutions. When we find your match, we’ll provide you with a flexible integration process with minimal to no distraction.
How Do I Know Which PEO Is Right For Me?
/in General, PEOs /by adminEmployer Solutions Plus offers the following guidelines to companies considering the co-employment relationship:
1. Compile an assessment of workplace needs and wants surrounding employee management and risk management.
2. Determine your employee benefits needs.
3. Align the PEO’s capabilities, services, and benefits with your exact needs. Are they capable of meeting your goals?
4. Verifications:
the PEO Vendor has been in business.
5. Ask the PEO for client and professional references.
6. Check the PEO’s financial background, including bank and credit references. Ask the PEO to prove that it pays its own payroll taxes and insurance premiums in a timely manner.
7. Is the PEO fully insured or partially self-funded (concerning benefits)? If third party, is their insurance carrier authorized to do business in your state?
8. Reinforce credibility through personal contact; request a personal presentation by the PEO.
9. Review the service agreement very carefully. Who is responsible for each type of liability? Key words to look for are “responsible for.” This means that the PEO assumes all cost and liability associated with the action. Words such as “assist with” or “consult with” means that the business owner assumes liability.
10 Will you be able to cancel the contract if better rates come along or terms of the contract are not met? We understand the 10 steps above are a lot to take in, and it’s especially difficult to find the time for this process when you’ve got your own day-to-day activities and clients to worry about. At Employer Solutions Plus, we manage PEO shopping for you, and present you with the best possible options after analyzing numerous PEOs on the aforementioned criteria.
Clients of Employer Solutions Plus save themselves time, money, and stress. Call today to take the guesswork out of the PEO selection process: 727-698-6207.
Risk Management with a PEO
/in Risk Management /by adminImagine the perfect world, where business owners could eliminate costly workers’ compensation insurance and audits, rid the workplace of all safety hazards, and effortlessly stay in compliance at all times … Unfortunately, so long as there is a dynamic working environment, there is always room for human error, uncontrollable factors, and risk.
However, there is good news. By partnering with a PEO, this burden is lightened in many ways. PEOs help businesses manage their risk more effectively. Through the co-employment relationship, the PEO shares many of the liabilities associated with your business and employees.
Here are some examples of PEO Services that help minimize risk:
As you see above, PEO services extend far beyond your basic HR solutions. They have detailed plans to minimize risk and provide increased protection from costly lawsuits and fines. For high risk industries, many PEOs even provide access to “Pay As You Go” workers compensation programs.
Best of all, the PEO relationship delivers peace of mind. With risk management taken care of, you can focus on your core competencies to maintain and grow your bottom line. Call Employer Solutions Plus at 727-698-6207 for a complimentary consultation today. A PEO may be the right solution for you!
Benefits Programs for Law Firms
/in Benefits, HR Solutions for Law Firms /by adminLet’s face it. The legal industry is competitive, not only for obtaining new clients, but for obtaining top talent. A great benefits program at your firm can serve as a tiebreaker when a candidate is reviewing their employment options. Do you know what other law firms similar in size and within your geographic area are offering to their employees?
The first benefit that comes to mind is always health insurance, but the term “benefits” actually refers to any non-wage compensation provided to employees in addition to their normal salary (or hourly wage).
Benefits may include:
You may want to offer your employees every benefit available, but to succeed in the highly competitive legal industry, costs need to be controlled. Employer Solutions Plus is skilled at analyzing and delineating various benefits packages that adhere to your firm’s budget, and most importantly, attract and retain top talent.
Many PEOs offer access to various medical benefits, and even lifestyle benefits such as recreation access, credit union membership, financial counseling and more. By working with numerous companies and then pooling the groups together, PEOs obtain discounted pricing from insurance carriers and other providers of employee benefits.
If a PEO is not the perfect fit for your law firm, Employer Solutions Plus offers standalone benefits management services to aide firms in shopping for the most competitive rates on group insurance plans and more.
Let your firm’s benefits package stimulate loyalty and employee satisfaction within your workforce. Contact us to get started today.
HR Concerns for Law Firms
/in HR Solutions for Law Firms /by adminMore than ever before, law firms are relying on Professional Employer Organizations (PEOs) and HR outsourcing companies to cut costs and improve efficiencies. Human resources, benefits, and employee management are all areas of business that law firms have traditionally kept within their control, but with a growing list of responsibilities, especially surrounding compliance, managing HR has become a full time (and demanding) job.
Here are some top HR concerns for law firms:
How Employer Solutions Plus can help:
Employer Solutions Plus understands the most critical HR services law firms are in need of to operate more effectively and efficiently. We enable our clients to make informed decisions regarding PEO strategies, but also understand that for smaller law firms, or firms with in-house capabilities, a PEO is not always the best solution.
Sometimes only one or two components of HR need to be outsourced. Following a consultation and analysis of your firm, we may explore payroll-only solutions, health insurance options, or risk management solutions.
Contact us today for a consultation, and we’ll help your law firm streamline its human resources management!
The Co-Employment Business Model
/in PEOs /by adminPEO, Professional Employer Organization, Employee Leasing, Co-Employment, Human Resources Outsourcing …. As a business owner or human resources professional, you’ve likely stumbled upon these terms. But, what exactly is a PEO? What does the co-employment relationship entail?
A PEO (Professional Employer Organization) is an organization that offers a cost-effective and comprehensive approach to helping you manage your company’s human resources. Unlike a standalone payroll company, or benefits company, that assists with one single component of HR, a PEO offers a full suite of HR-related services including but not limited to employment administration, recruiting, hiring and firing, workers’ compensation, employee benefits, payroll, compliance, best practices, employee training, and performance management.
PEOs permit business owners to focus on their core competencies, while leaving HR and employee management to the experts! Co-employment refers to the separation of human resources, employee management and liabilities that occur when you work with a PEO.
In the co-employment business model, your employees work for both you and the PEO. Business and day to day activities go about as usual, but the PEO assumes all administrative functions, and more importantly, shares many of the liabilities associated with your business and employees.
PEOs save businesses time and money! To learn more about PEOs and the co-employment business model, contact us today.
Welcome To Employer Solutions Plus!
/in General /by adminWelcome to the Employer Solutions Plus blog. We’re excited to begin sharing valuable information pertaining to professional employer organizations (PEOs), outsourcing, human resources, employee benefits, payroll, workers compensation, and much more.
As a B-2-B company, Employer Solutions Plus (ESP) is committed to providing clients with best practices and solutions that contribute to maintaining and growing their bottom line. We come prepared to listen to your business concerns and will help you find the right PEO, but more importantly, we want you to be involved in the process and understand your options.
Please come back and visit us soon. We’ll be uploading content weekly, and you can learn more about how businesses of all sizes (and industries) save money through the co-employment relationship.
To learn more about professional employer organizations, or how ESP can provide customized solutions for your business, please contact us today.