1. HEADLINE:
More Businesses Rely on Professional Employer Organizations to Increase Profits—
iPEO Solutions Identifies What’s Behind the Growing Trend
SUMMARY:
“No pain, no gain” is a phrase associated with events like the Olympics, but it’s no less
appropriate for entrepreneurs trying to lift their business to “the next level.” That’s why
iPEO Solutions (http://iPEOsolutions.com) works with the industry’s best PEOs to help
businesses improve cash flow and reduce costs.
TEXT:
Tampa, FL—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:
2. “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
