Security Dealer & Integrator

JUN 2018

Find news and information for the executive corporate security director, CSO, facility manager and assets protection manager on issues of policy, products, incidents, risk management, threat assessments and preparedness.

Issue link: https://sdi.epubxp.com/i/993638

Contents of this Issue

Navigation

Page 47 of 59

48 Security Dealer & Integrator / www.SecurityInfoWatch.com June 2018 ties and they are able to administer benefits more skillfully and negoti- ate better deals than small employers would be able to do on their own." The Benefits for Employees While specific employee benefits tend to vary among PEOs, most will pro- vide a benefit package superior to what can be offered by the typical small business owner; in fact, many times the owners themselves can join in on the benefit package if they choose to. e PEO also takes responsibility for timely and accurate payroll deliv- ery and the provision of employee ben- efits. "Our co-employment arrange- ment has allowed us to provide our employees with a package of benefits that we could not have afforded on our own," says Scott Colson, owner of an Ironworking business in Mississippi. The Costs It is important to understand that there is a cost to leasing employees. e leas- ing company serves as the HR depart- ment, and most PEOs set their fee as a percentage of the payroll administered. "is is a legitimate charge when you take into consideration the amount of work and expense taken over by the leasing company," Colson says. "Charges among PEOs vary, which is why it is important to shop carefully if you are considering leasing," Bur- cham says. "e greater the risk factor is for such things as worker's compen- sation, the higher the fee for leasing. Also, the employer's history of worker's compensation cases will affect the fee." When investigating potential PEOs, your first stop should be the National Association of Professional Employer Organizations (NAPEO), which includes a tool to help find a provider: www.napeo.org/peo-resources/tools/ find-a-service-provider. Of course, no one knows the work culture and environment of your business as well as you do. One of the things to be careful about in working with a PEO is that you do not allow the impression that there is a middleman between you and your employees. Additionally, employee leasing reporting requirements with regard to worker's compensation differ widely by state. Take a look at the requirements for your state via the National Council on Compensation Insurance (NCCI) at www.ncci.com. ■ » William J. Lynott is a veteran freelance writer who specializes in business management as well as personal and business finance. For more info, please visit www.blynott.com. The Money Issue Recruiting Together we can Educate Inspire Heal Nourish Children and families in crisis across the USA need our help – and yours. And as a 501(c)(3) organization, Mission 500 now has even greater flexibility to work with local charities to better support existing and new sponsors and volunteers. But even with over 1100 children sponsored and many acts of charity performed to date, there's still a great deal of work to be done. Get involved today! Visit mission500.org for more information. Supporting Families Across America Request information: www.SecurityInfoWatch.com/10487869

Articles in this issue

Links on this page

Archives of this issue

view archives of Security Dealer & Integrator - JUN 2018