How to Choose the Right PEO?

Organizations need to be as cost-effective as possible in today’s highly competitive market. This is the main reason why companies are outsourcing their employment-related functions to a PEO. The term “PEO” is an acronym for professional employer organization. The reason for their existence and their unique selling point is they manage a variety of functions for small and medium-sized businesses. They manage functions such as payroll, employee benefits, worker’s compensation, and employer tax compliance. Their services have steadily expanded to include many other optional services including talent acquirement, performance management and employee/staff training. A PEO brings great value to companies. They offer a wide range of human capital strategy services, improved employment practices, compliance, and risk management to reduce employer related liability. They also play a major role in improving productivity and profitability. They have access to comprehensive employee benefit packages. This helps small companies to be more competitive in a tight labor market. In a nutshell, a PEO can manage your organization’s HR functions more efficiently allowing you to stay focused on your core business. Picking the right PEO to partner with is a critical decision for your organization. There are many PEO companies in the market but you need to partner with a reliable player in the PEO industry. Here are a few tips on picking the right PEO: Search for a reliable and experienced PEO You should search a PEO that has years of experience in the industry. Check their history and credentials before any documents are signed. Make sure the service provider you pick can serve in all geographical regions where you have employees. PEOs can offer services in all states and some even offer services globally. Search...

Grandmothering Law

California Senate Bill 1446 for Small Businesses Renewing 4th Quarter 2014 The California Senate Bill 1446 has recently passed (July 7th, 2014; effective immediately), allowing small businesses renewing group health plans in the 4th quarter of this year to continue with their policies for another year even though these policies may not comply with the Affordable Care Act (ACA). If your company is up for renewal in the fourth quarter of this year, it is very likely that the 2013 plan you signed up for in the fourth quarter of the previous year is not compliant with the new regulations on health care starting in 2014. The recent California Senate bill was has allowed some leeway for companies to transition to the new policies by giving businesses that currently have ACA non-compliant plans to continue with these plans for one more year. If this bill was not passed, these policies would be forced to be cancelled and businesses would need to select from the new, ACA compliant plans. Bill 1446 only applies to small businesses of 50 or less employees. People who have attained their health coverage on the Individual and Family Market will be required to transition to ACA compliant plans at their next renewal. This bill by no means forces to employers to stick with their 2014 plans; it only gives them the option to continue with the plan for another year. If the employer would like to transition to an ACA compliant plan, he or she may certainly do that. In fact, the California Senate Bill 1446 does not address rate changes, so there may very...
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