PEO Services by Anchor HR PEO
Our job is to get you the most PEO services value and protection possible for your situation and budget! We are able to service and sell clients all over the United States due to the advancements in Technology. You can scan, fax or email documents , video conference for discussions and talk, or text for questions and answers.
Anchor HR functions as a Trusted Advisor just like your Accountant, Lawyer, and Insurance Agent perform. They manage and oversee the process of obtaining the PEO of your choice with only one contact for multiple proposals so you can focus on running your company. When you contact Three Oaks Group we will work with you to gather all the pertinent information needed and present your case to multiple PEO’s to obtain the best offer with the most accurate match to your budget and needs. FYI , Many PEO’s can save you more than they cost just in Workers Compensation Premiums. Below is a summary of the benefits to you for utilizing a PEO.
There are three major reasons people choose a PEO arrangement
Avoid Risk
First to avoid risk; co-employed employees are on the workers compensation policy of the PEO so if a suit is filed it is against the PEO. The same goes for Unemployment premiums and claims in most states. The big risk avoider that is underappreciated is EPLI insurance coverage that most PEO’s carry with each client listed as an additional insured. This coverage is Employment Practices Liability Insurance and usually covers the entire cost of litigation and settlement of employement related claims such as sexual harrassment or discrimination. These policies may be more valuable with the implementation of Obamacare or Healthcare Affordability Act.
Compliance
Second is the outsourcing of Compliance permitting lower overhead and freeing up existing employees to perform productive and profitable tasks. Also PEO’s are responsible to keep you in compliance for all your Human Resource related legal requirements. With the implementation of Obamacare or the Healthcare Affordability Act the compliance issues are going to be huge and require massive record keeping with penalties, fines and possible imprisonment for major violations.
Cost Savings
Third and very importantly is the Cost Savings that economy of scale offers either by up front savings or slowing of the creep of ever increasing insurance and benefits costs. There is no way a small or midsized employer can get the kind of pricing on benefits and workers compensation without becoming part of a larger pool of employees to spread the risk and justify discounts. This happens with Workers Comp, Unemployment costs, and employee benefits in most cases.
There are many benefits available for your organization varying from workers compenstation, payroll services, employess benefits, health insurance plans, employee liability, and more depending on your group size and which PEO you choose to go with.