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Outsourcing HR Compliance, Benefits and Other Stuff That Takes Up Too Much of Your Time (and That You Don’t Know Much About Anyway) Barry Davis, CBPA Insperity
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So…You Want to Own a Business
Annual Business Failure Rate* 8% * Slavic401k
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So…You Want To Be An Employer
Annual Turnover In the United States* 42% * Bureau of Labor Statistics
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Government Compliance
Healthcare Reform Government Compliance Shielding You From Government Regulations The number of government statutes and regulations has quadrupled since 1980. This slide communicates the daunting tasks and risk associated with the increasing number of employment-related government regulations business owners must deal with. Insperity keeps up with all the new regulations so client doesn’t have to – can be very time-consuming protects their business by reducing liabilities associated with non-compliance government compliance helps avoid fines and penalties additional components of government compliance government reporting agency interface unemployment claims management wage claims audits Regulations in 1900 Regulations in 1940 Regulations in 1980 Regulations Today
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Is There A Better Way?
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It’s Called a Professional Employer Organization
There Is: It’s Called a Professional Employer Organization or PEO
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Your PEO Helps to Keep You in Business The U.S. Business Failure Rate
Without a PEO*: 8% With a PEO*: 4% * Slavic401k
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The Cost of Turnover 150+ % of Salary* * Society for Human Resource Management(SHRM)
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Your PEO Helps You Reduce Turnover
Average Turnover in the United States Without a PEO*: 42% With a PEO**: % *Bureau of Labor Statistics **McBassi & Company
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So…. WHAT IS A PEO ?
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A Professional Employer Organization (PEO) is a firm that provides a service under which an employer can outsource employee management tasks, such as employee benefits, payroll and workers' compensation, recruiting, risk/safety management, and training and development. Wikipedia
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The PEO Advantage Enhanced Revenues: Strategic HR services in recruiting, performance management, and training & development – to enable you to be more systematic and strategic about the role your employees play in the success of your business Reduce & Contain Operating Expenses: Applying your PEO’s expertise and economies of scale to employment administration and benefits management helps you keep costs more stable for your company. Net Profit Protection: Ever-changing government regulations and potential employer liabilities can significantly affect your business. Your PEO assumes and/or shares some of the responsibilities of being an employer, to help you better manage workplace liability and compliance issues.
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Enhanced Revenues
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Recruiting and Outplacement Support
Job Description Development Wage and Salary Surveys Process Review Interviewing & Selection Training Online Interviewing & Selection Training
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Performance Management Support
Performance Appraisals Compensation Resources and Tools Supervisor Coaching Job Descriptions Reward & Recognition
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Reduce & Contain Operating Expenses
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Employment Administration
Payroll Processing Payroll Record Maintenance & Management Payroll Compliance Online Paystubs and W-2s Garnishments and Deduction Administration Employment Verification PTO Accrual
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Benefits Management Health Care: Medical, Dental & Vision
Flexible Spending Account Life Insurance and Personal Accident Insurance Short & Long Term Disability
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Net Profit Protection
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Employer Liability Management
W/C Plan Coverage & Claim Resolution Employment Practices Liability Insurance (EPLI) Safety Review Employee Handbooks Termination Assistance Employee Relations Substance Abuse Awareness Liability Management Training
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Government Compliance
Government Compliance Reporting & Agency Interface Unemployment Claims Administration FICA, FUTA, SUTA Safety Services Drug Free Workplace Administration EEOC Administration Job Classification Review
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So, What’s This All Mean To You As An Employer?
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How PEO’s Top 10 HR Strategies Helps the Best Small &
Mid - Sized Businesses Achieve Their Vital Business Objectives Outsourcing your non-core but essential HR functions is a proven success strategy to gain the time you need to focus on actions that lead to growth & profitability. Focus Intensely on Profit Generating Activities Capitalize on New Business Opportunities Reduce & Control Your Operating Expenses Gain Peace of Mind Protect Your Business From Gov’t Expansion Head off Rising Employment Risks Enhance Training Resources Upgrade & Develop Your Work Force Improve Employee Communication Make Use of Incentive Compensation Plans
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Outsourcing HR Compliance, Benefits and Other Stuff That Takes Up Too Much of Your Time (and That You Don’t Know Much About Anyway) Barry Davis, CBPA Insperity
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