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What is a PEO?

Insperity

Typically, a PEO can manage all the HR jobs that you would have to outsource to multiple service providers – like payroll processing, benefit plan management and administration, recruiting and training, and more. Joining a PEO provides you with workers’ compensation insurance coverage. Training and development.

Payroll 276
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8 Trends in HR changing the future of work

Insperity

Contractors are usually highly skilled or knowledgeable in a specific area and don’t require lots of training to get up to speed. This includes: Retirement account (401(k)) Health insurance (along with dental and vision insurance) Paid time off (PTO) Life insurance Disability insurance. Transparent leadership.

Insurance 298
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3 Proven Ways to Reduce Your Workers’ Compensation Costs

Insperity

If you’re looking for ways to save on workers’ compensation insurance, you’re well aware of the direct costs that you pay in premiums. But what you may not have considered is the indirect costs of on-the-job accidents and injuries, which go beyond what you pay for workers’ compensation insurance.

Insurance 265
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Future-ready HR: The versatility of full-service PEO partnerships

Insperity

An example of this is a client company discovering that they’ve been continuing to pay for medical insurance for a terminated employee. Some compromise may be necessary When you choose your own insurance offering through a broker, you can select from a vast number of available insurance carriers and plan designs.

Payroll 287
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Employee or contractor? 6 common mistakes when classifying workers

Insperity

Also consider whether a company provides a worker with training about procedures and methods. If a company gives detailed instructions and provides training, that’s a good indication the worker is an employee. Does the worker receive employee benefits , such as insurance, retirement savings plans or a pension and paid leave?

Equipment 317
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Is your employee wellness program up to par?

Insperity

Their benefits include: Healthier employees, which can help companies contain health insurance costs Less absenteeism and, therefore, greater productivity Higher morale A sense among employees that their employer cares about them in a holistic manner – beyond their functional role at work – which can strengthen loyalty and improve retention.

Insurance 317
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How to reduce workers’ compensation costs: 3 proven strategies

Insperity

You’re probably well-aware of the direct costs you pay in workers’ compensation insurance premiums, but you may not have considered the indirect costs of on-the-job accidents and injuries. You may have to train replacement employees, adjust work schedules, investigate accidents and implement corrective measures.

Insurance 244