More Businesses Rely on Professional Employer Organizations to Increase Profits—iPEO Solutions Identifies What’s Behind the Growing Trend
New York, NY (PRWEB) February 14, 2014 -- Bob Dylan once observed, “Behind every beautiful thing, there's some kind of pain.” He might have been writing about entrepreneurs initially caught up in a mountaintop experience who wake up one day lost in a nightmarish mound of paperwork. That’s when it’s time to contact iPEO Solutions (http://iPEOsolutions.com) about finding the right Professional Employer Organization (PEO).
Studies reveal that’s what more businesses are doing.
The National Association of Professional Employer Organizations (NAPEO) has reported that employment growth among PEO clients since 2010 has been 9 percent higher than other small businesses (based on the Intuit Small Business Employment Index), and 4 percent higher than employment growth in the U.S. economy overall.
“Most people invest in the services of a PEO to thwart some level of pain,” says Michael Ortoll, founder and CEO of iPEO Solutions, explaining that a Professional Employer Organization is an outsourcing firm that handles Workers Comp/Risk Management, Employee Benefits, HR & Payroll Administration, etc.
“We can deliver lower Workers Comp costs, including better service aimed at keeping costs lower, as well as provide improved HR compliance and Payroll Administration via higher-end technology and resources,” Ortoll said.
iPEO Solutions specializes in providing co-employment alternatives to a variety of industries, including: Private Equity portfolio firms, Associations, Franchises, Real Estate/Property Management, Healthcare (Senior Housing), Construction, Hospitality and Transportation.
“This is what we do and why they hire us,” he said.
In addition, iPEO can help manage implementation of the Affordable Health Care Act and improve cash flow through “pay-as-you-go insurance and taxes,” thus spreading out a company’s cash.
In their celebrated report “Professional Employer Organizations: What Are They, Who Uses Them and Why Should We Care?” Britton Lombardi and Yukako Ono of the Federal Reserve Bank of Chicago wrote:
“Over the years, the PEO industry has undergone continued transformation. Beginning in the early 1980s, PEOs started out as firms that conducted payroll processing for their client firms. Payrolling involved preparing and distributing payroll checks, direct deposit of wages to bank accounts, payroll data maintenance, filing local, state and federal government paperwork, and vacation and sick leave tracking.”
iPEO’s Ortoll summarizes it like this: PEOs help companies shift from time-consuming administrative tasks to revenue-producing activities, thus lowering the level of pain endured to achieve success.
“iPEO Solutions tailors PEO solutions producing the greatest value for its clients,” Ortoll said. “iPEO works with the industry’s best PEOs. We vet each provider through a due diligence process, ensuring all participating PEOs meet the certain key requirements.”
What are the simple secrets to the PEO industry’s growing success? The Florida Association of Professional Employer Organizations (FAPEO) lists them as:
- Controlling costs
- Saving time and paperwork hassles
- Providing professional compliance (e.g., payroll, IRCA, EEOC)
- Reducing turnover and attracting better employees
- Providing claims management (e.g., workers’ compensation, unemployment insurance)
- Providing better benefits packages
- Providing professional human resource services (e.g., employee handbooks, forms, policies and procedures)
- Reducing accounting costs
Entrepreneur.com puts it this way: “By combining the employees of several companies into one large pool, professional employer organizations (also known as employee leasing companies) can offer business owners better rates on health-care and workers' compensation coverage. The net effect can be significant savings of your time and money.”
It should be noted, however, analysts agree that PEOs neither provide daily supervision nor get involved with the recruiting process—except when necessary, such as in background checks and drug testing.
For more information about selecting the right PEO, call 1 (813) 220-3132 or visit the iPEO Solutions website at http://iPEOsolutions.com — also on Facebook at https://www.facebook.com/iPEOsolutions.
ABOUT: iPEO Solutions is an independent broker and single-source co-employment solution that works with the industry’s best Professional Employer Organizations, ensuring that each meets the following requirements: A-rated insurance carriers, leading technology, experienced and stable management teams, strong financials, a history of success and qualified internal personnel in all service areas.
Michael Ortoll - ARM CEO/Founder, iPEO Solutions, http://www.iPeosolutions.com, +1 813-220-3132, [email protected]
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