Saturday, November 24, 2012
Fortune Small Business article on PEO
Very good article on how PEO saves companies hard (and soft) dollars.
http://money.cnn.com/magazines/fsb/fsb_archive/2007/03/01/8402022/
Thursday, July 5, 2012
Bill regulating PEOs ‘broad,’ on governor’s likely veto list - Mauinews.com | News, Sports, Jobs, Visitor's Information - The Maui News
Bill regulating PEOs ‘broad,’ on governor’s likely veto list - Mauinews.com | News, Sports, Jobs, Visitor's Information - The Maui News
Let's hope other States follow suit when it comes to this issue. Bills like these are put up by congressmen that are in the back pocket of the big PEO's.
This will hinder competition and allow only a few big national PEO's to remain in business.
Let's hope other States follow suit when it comes to this issue. Bills like these are put up by congressmen that are in the back pocket of the big PEO's.
This will hinder competition and allow only a few big national PEO's to remain in business.
Saturday, June 2, 2012
The Silver Bullet for Small Businesses to Lower Labor Costs and Increase Productivity
Helping small businesses compete with bigger companies for employees is the most overlooked benefit of using a PEO (professional employer organization) or other shared HR service.
When a small business calculates their labor costs, they rarely take into account the turnover rate. Why is this? The lost production for a company with 20 to 50 employees is dramatic when turnover is factored into the equation of profit and loss.
Even a low turnover rate of 10 percent doesn't sound too bad. But for a small business with 35 employees, that means 3 to 4 employees PER YEAR, will leave that company and need to be replaced. Without even taking into account the cost of finding a replacement, imagine the costs associated with training and the opportunity cost lost while the new employee gears up to replace the lost employee.
If a small business were to cut turnover in half, then those associated costs would be cut in half, correct? I would argue that it would be an even greater savings due to natural attrition of those one or two lost, as opposed to the 3 or 4, of which 2 are likely vital to a company's operations.
How can a PEO help? By allowing the small business to focus on its core competencies and offering a more cost effective benefits package that competes with what a Fortune 500 company offers its employees, such as:
When a small business calculates their labor costs, they rarely take into account the turnover rate. Why is this? The lost production for a company with 20 to 50 employees is dramatic when turnover is factored into the equation of profit and loss.
Even a low turnover rate of 10 percent doesn't sound too bad. But for a small business with 35 employees, that means 3 to 4 employees PER YEAR, will leave that company and need to be replaced. Without even taking into account the cost of finding a replacement, imagine the costs associated with training and the opportunity cost lost while the new employee gears up to replace the lost employee.
If a small business were to cut turnover in half, then those associated costs would be cut in half, correct? I would argue that it would be an even greater savings due to natural attrition of those one or two lost, as opposed to the 3 or 4, of which 2 are likely vital to a company's operations.
How can a PEO help? By allowing the small business to focus on its core competencies and offering a more cost effective benefits package that competes with what a Fortune 500 company offers its employees, such as:
- Major medical healthcare
- Vision
- Dental
- 401(k) plans
- Life and AD&D
- Accident
- Hospital Indemnity
- Short- and Long-Term Disability
- Cancer
- Legal
- Pet
- Roadside Assistance
- Credit Card Protection
- Identity Theft Protection
Thursday, May 31, 2012
Tuesday, May 29, 2012
How to Calculate Labor Cost
How to Calculate Labor Cost
This is almost 100% incorrect...what about payroll taxes, workers compensation insurance and risk management, payroll and administrative costs, the cost of benefits, the cost of turnover?
Thumbnail: Add 15% on top of whatever the hourly rate is for taxes and administrative costs. Add anywhere from .25% to 40% depending on workers comp/risk of the job. Add another 5 - 15% for cost of benefits...if you go lower, then the cost of turnover goes up.
This is almost 100% incorrect...what about payroll taxes, workers compensation insurance and risk management, payroll and administrative costs, the cost of benefits, the cost of turnover?
Thumbnail: Add 15% on top of whatever the hourly rate is for taxes and administrative costs. Add anywhere from .25% to 40% depending on workers comp/risk of the job. Add another 5 - 15% for cost of benefits...if you go lower, then the cost of turnover goes up.
Monday, April 16, 2012
Thursday, April 12, 2012
Engage PEO and Sapoznik Insurance Announce Partnership
Engage PEO and Sapoznik Insurance Announce Partnership: Engage PEO and Sapoznik Insurance today jointly announced that Sapoznik Insurance has selected Engage PEO as its preferred PEO partner.
Friday, April 6, 2012
Computation of the Metropolitan Commuter Transportation Mobility Tax for Professional Employer Organizations (PEO)
Computation of the Metropolitan Commuter Transportation Mobility Tax for Professional Employer Organizations
http://www.tax.ny.gov/pdf/memos/mta_mobility/m12_2mctmt.pdf
http://www.tax.ny.gov/pdf/memos/mta_mobility/m12_2mctmt.pdf
Thursday, April 5, 2012
Tuesday, April 3, 2012
Monday, April 2, 2012
How HR Outsourcing Benefits Small Businesses
Here is a pretty good article on the benefits of HR outsourcing for small businesses.
Enjoy:
How HR Outsourcing Benefits Small Businesses
Enjoy:
How HR Outsourcing Benefits Small Businesses
Thursday, March 29, 2012
I-9 issues covered by PEO
Watch out small business owners...the Feds are on the case...
http://www.oasisadvantage.com/blog/i-9?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+oasisadvantage%2FmaPe+%28Oasis+Blog%29
http://www.oasisadvantage.com/blog/i-9?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+oasisadvantage%2FmaPe+%28Oasis+Blog%29
Monday, March 26, 2012
Monday, March 19, 2012
Monday, March 12, 2012
PEO in the Midwest...great news for Chicago Businesses
Looking for a great solution in the Midwest?
http://chicagolandchamber.org/wdk_cc/programs_and_advocacy/small_biz_news/is_a_peo_right_for_your_growing_company_.jsp#
http://chicagolandchamber.org/wdk_cc/programs_and_advocacy/small_biz_news/is_a_peo_right_for_your_growing_company_.jsp#
Friday, March 9, 2012
Wednesday, March 7, 2012
e-GeneralContractorInsurance.com Helping General Contractors Reduce Workers Compensation Costs
e-GeneralContractorInsurance.com Helping General Contractors Reduce Workers Compensation Costs
This looks like a great solution for G.C.'s (general contractors) to be sure they have the proper comp coverage.
Thursday, March 1, 2012
How PEO's continue to save their clients money on health benefits
How Mike Kahoe started a health-smart program and cut insurance premiums at Group Management Services | Smart Business
Great story on how PEO's work with their clients to keep their health premiums down.
Tuesday, February 14, 2012
Monday, February 13, 2012
Thursday, February 9, 2012
Good article on HR outsourcing
Great synopsis of what HR outsourcing, and PEO, are all about:
"What to Consider when Considering HR Outsourcing"
"What to Consider when Considering HR Outsourcing"
Tuesday, February 7, 2012
Subscribe to:
Posts (Atom)