When considering partnering with a professional employer organization (PEO), many questions may cross your mind. If you’re just now learning about a PEO, you’ve taken the first step toward providing your company with more efficient and unique practices for handling your most precious assets: your employees. You may be asking, what exactly is a PEO? A PEO enables companies to cost-effectively outsource the management of human resources, employee benefits, payroll, and workers’ compensation. As a PEO, GMS leverages its collective buying power to act as one large company. A PEO works diligently with small business owners to provide them with the same buying power as a larger business through a co-employment relationship. By working with a PEO, you gain access to more cost-effective options regarding healthcare, dental, vision, and workers’ compensation.
There are many reasons why employers use a PEO. As a business owner, you’re already aware of the amount of time and energy that goes into each aspect of managing your business. What can a PEO do for your business that will save you time and money? Continue reading to see how GMS can make your business simpler, safer, and stronger.
Payroll
Managing payroll and tax filings can be one of the most time-consuming and costly tasks there is within your business. Small and mid-sized companies spend an average of $2,000 per employee per year to handle payroll. When you outsource payroll with us, you gain access to:
- Taxes & tax filing
- Electronic onboarding
- Pay card options
- Garnishment administration
- Customized payroll reports
- Employee documentation
- Time clock integration
- GMS Connect: advanced online payroll system
- New hire reporting
- Employee self-service portal and app
- Compliance advice and assistance
Human Resources
There are many functions when it comes to human resources management - from recruiting and retaining employees to payroll to tracking vacation time. Focusing on your company should be your number one concern. Your employees are the backbone of your business. HR management plays a role in instituting and suggesting strategies for individuals that impact the growth of your business. Creating an environment that encourages employees to do their best increases longevity in the workplace. Below are the advantages of outsourcing your human resource functions to a PEO:
- HR audit
- Human resources information system (HRIS)
- Recruitment services
- Onboarding
- Compliance assistance
- Training & development programs
- Retention strategies
- Recognition programs
- Employee relations guidance
Risk Management
There are many risks associated with workers’ compensation and workplace hazards. The majority of work-related deaths, injuries, illnesses, and consequential workers’ compensation costs are preventable. With the right risk management solution, you’ll be able to create a safer work environment for your employees, which ultimately results in fewer claims and a lower workers’ compensation insurance rate. Below are benefits you gain when outsourcing risk management:
- Claim(s) management
- PEO discount programs
- Drug testing
- Workers' compensation management
- Claim investigation
- Hearing representation
- OSHA walk-throughs
- Safety programs & audits
- Trainings, webinars, and more
Benefits
Attracting and keeping quality employees is the number one concern in today’s workplace. As many individuals are looking for new jobs, standing out from your competitors is key. One of the best ways to do this is by offering a benefits package. Offering a benefits package to your employees, show them you are invested in not only them but their future with your business. Below are examples of benefits you can offer your employees:
- PEO benefit program
- TPA services
- Claims administration
- Wellness programs
- Supplemental insurance programs
- ACA compliance
- ERISA compliance
- RX specialist & assistance
- 401(k)
- Benefit plan offerings/administration
- Benefit compliance reporting
- Claim audits/case management
As the list of services that GMS can offer your business is extensive, our experts are here to help with any area of your business that is struggling. By choosing to partner with us, we can better understand what services will be of benefit to your business. We work with you to create a plan that’s designed specifically for the size and needs of your business. Contact us today to learn more!