What is a PEO and how can a professional employer organization benefit your business?
Overall, PEOs enable clients to cost-effectively outsource the management of human resources, employee benefits, payroll and workers’ compensation. Our PEO clients focus on their core competencies to maintain and grow their bottom line, which is HCBR Groups model, “Focus on what you do best, let us handle the rest.”
Businesses today need help managing increasingly complex employee related matters such as health benefits due to ACA, workers’ compensation claims management, payroll processes, payroll tax compliance, and unemployment insurance claims. Our customers contract with us to assume these responsibilities and provide expertise in human resources management. This allows our clients to concentrate on the operational and revenue-producing side of its operations.
A PEO provides integrated services to effectively manage critical human resource responsibilities and employer risks for clients. A PEO delivers these services by establishing and maintaining an employer relationship with the employees at the client’s worksite and by contractually assuming certain employer rights, responsibilities, and risk.
For some business leaders, a professional employer organization (PEO) is an unfamiliar concept. However, a PEO is simply a relationship in which we become your dedicated HR management and benefits administration partner, and deliver a broad range of HR services through a “Co-Employment” model.
Businesses across America have discovered the incredible value of PEOs because they provide:
- Relief from the burden of employment administration.
- A wide range of personnel management solutions through a team of professionals.
- Improved employment practices, compliance and risk management to reduce liabilities.li>
- Access to a comprehensive employee benefits package, allowing clients to be competitive in the labor market.
- Assistance to improve productivity and profitability.
- Managing certain critical HR service responsibilities such as payroll, benefits and workers’ compensation
- Shouldering many common employer risks
- Access to high quality health care
- Assistance with your HR business strategy as it relates to Health Care Reform (ACA)
- Providing IT infrastructure for HR management
HCBR Group is a professional employer organization, or PEO. In that capacity, we provide clients with a wide array of services that they outsource to us. Among the services available are:
Our PEO plan offers the following:
- Risk Management
- Workers Compensation Insurance
- Tax Compliance & Reporting
- Tax Credit Services
- State Reporting
- Dedicated Point of Contact
- Online Payroll Processing
- Employee Self Service Access
- Electronic Employee On-Boarding
- On-Site Check Printing
- Employee Handbooks
- Time & Attendance Solutions
- Time off Accrual Management
- 401K ((k) Trac)
- Health Benefits
- Employee Assistance Program (EAP)
- Employer Professional Liability Insurance (EPLI)
- HR Services
- Corporate Training
- Background/ Drug Screen Program
- Compliance Posters
- Wage Garnishments
- Customized Payroll Reporting
- Voluntary Benefits – Aflac/Unum
- Employee Retail Discount Programs
- Visa Processing
- Direct Deposit
- ACH Payment Methods
- Reverse Wire
Employing economies-of-scale, HCBR Group benefits clients by more affordably and efficiently handling traditional in-house business functions such as human resources management and payroll, as well as purchasing workman’s compensation and other insurance products at greatly reduced prices. Further, our compliance experts ensure that clients follow national, state and local employment law and that their employees receive training and safety services.
We also deliver clients affordable and quality employee benefit packages. They encompass such benefits as 401(k) plans, life and disability insurance, health and dental insurance and flexible spending plans, among others.
As a PEO, we can serve as the employer of record for tax purposes, handling the payment of wages and compliance on rules and regulations that govern the reporting and payment of federal and state taxes on employee wages. These include the reporting and handling of FICA and the Federal Unemployment Tax Act, or FUTA.
We charge a service fee customized for managing clients’ HR and payroll functions. This fee, of course, is in addition to normal employee overhead costs, including the client’s share of FICA, Medicare and withholding for federal jobless insurance. Please check with one of our client service coordinators to find out how HCBR Group can provide you with any PEO services.