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Archives for Employee Benefits

What Is A PEO, Can it Help Your Small Business?

A PEO is a Professional Employer Organization. A PEO can help your small business by doing various functions such as payroll, benefits, employer related administrative functions such as 401k and health benefits. This allows the employer to focus more on the employee and the daily business needs. These are some of the things that a PEO can do for your small business.

What Is A PEO

Benefits

PEO’s can offer better benefits packages when they pool together with their partnered employees, allowing better rates for dental, health and vision. They also allow you to offer your employees better life insurance options, flexible spending accounts, and 401k plans.

 

 

Taxes

Keeping up with tax codes can be a full time job itself. When you hire a PEO, they do all the tax work for you! Not only that, but when tax season comes around they take care of that paperwork as well.

Workers Compensation

Would you know how to file a workers compensation claim? Or what to do if you had to file discrimination claim? When you have a PEO working for you, all of your employee’s concerns and injures are addressed timely and lawfully.

Recruitment and Hiring

PEO’s can even recruit new hires for your company. You can decide just how much of the responsibility you want them to take on. They can run the ad, they can run the interview, it’s all up to you.

PEO’s don’t take over the running of your business, that’s still up to you. They do take many of the responsibilities regarding the paperwork and filing of it. It is still up to the business owners to run the business and the day to day operations.

Hiring a PEO might be the best thing for your business, giving business owners more time to run their business. Now that you know more about them and what they do, if you think it’s for you, give Howard Employee Services a call at 941-922-0202

 

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The Benefits of Outsourcing Employee Benefits

Outsourcing Employee BenefitsThe increasing complexity of managing employee benefits efficiently and in a cost effective manner has led today’s smart small business owner to consider outsourcing employee benefits. This is not a decision that should be made without knowing all the advantages and disadvantages that come with either managing benefits internally versus externally. Today we are going to explore the various benefits a business owner can expect from outsourcing employee benefits.

Outsourcing Employee Benefits Saves Time

Internal HR departments may be highly specialized on employee relationship management but when it comes to managing various external companies that come with benefits management they may be a little out of their leagues. This is a hundred times truer if the current benefits manager is not a dedicated person and more of an employee who wears many hats. Small businesses are especially vulnerable to creeping time costs as external companies change their prices, policies, and various segments that go with their employee benefits offering. Between medical benefits, disability, insurance, and payroll changes it is easy for a human resources department to quickly find itself threading waters to keep up with increasing demands.

Keeping up with Government Regulations

There are various governmental agencies, departments and even regulatory boards that deal with employee benefits management. Between the American with Disabilities Act directives, the Affordable Care Act regulatory requirements, and the Family Medical Leave Act mandates there are an increasing amount of regulations to stay current with when it comes to managing employee needs. Outsourcing employee benefits has the added benefit of having a dedicated team of experts whose sole job is to make sure you are in compliance with the various regulatory bodies of the government. State and federal instruments both have different requirements when it comes to employee benefits.

Reduce Financial Liabilities

Benefits administrative dedicated companies have the added advantages of dealing with benefit providers, such as various insurance companies, on a higher financial level. This leads to various discounts based on the volume and business relationship with different benefit providers. These discounts are in turn passed unto to you in the form of multiple administrative companies vying for your business. The cost savings add up with the time savings from your HR department having to handle the various segments of benefits administration.

Give Howard Employee Services a call today at 941-922-0202 or send us a quick message for more information on how we can help your company in outsourcing employee benefits!

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New Research Shows Happy Workers are Productive Workers

A happy workersnew study from the Social Market Foundation says it has proof that happy workers are indeed productive workers! For the longest time corporate culture mostly prioritized a high-pressure, take-no-prisoners culture to maximize financial success. This approach appeared to produce the best results as direct correlation between effort and results could be more easily measured.

New research by the Social Market Foundation and the University of Warwick’s Centre for Competitive Advantage in the Global Economy that included over 700 workers appears to disprove these old misconceptions about worker productivity. The old adage of push them harder, for more results simply yields marginal results when it comes to overall worker productivity.  It is the go-to method because it is often times a lot easier to track and show results based on effort.

On average the old motivational workplace methods proved to show a 3% increase in employee productivity. The experiment consisted of showing a 10-minute comedy clip or providing snacks and drinks to random employees. This latter method showed a 12% minimum and up to 20% maximum increase in productivity following the above motivational methods!

This holiday season employers consider what kind of bonus or holiday snacks to bring into the office. How much of the budget should be spent on non-work related activities to increase worker happiness. This study may provide proof that this method of employee appreciation indeed leads to measurable productive results.

One needs to consider a mix of both short-term and long-term incentives to keep current and future employees stimulated to perform their best. Long term incentives include benefits such as medical and dental coverage, life insurance and others.

Howard Employee Services provides employee benefits in the Sarasota area as part of its employee services to companies that may not otherwise have access to such benefits for their employees.

Give Howard Employee Services a call today at 941-922-0202 or send us an email for more information on how we can help your company properly incentivize its employees too!

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