Bundle up – professionally speaking.
By: Connie Laughlin
What’s in your bundle?
Profitability depends on successful executive initiatives and operations management. So there’s no time like the first quarter to put great things into play. A key initiative in business ops for 2018 is the bundled human resources (HR) solution that streamlines a business with best practices and ensures proven risk-management strategies all in one sweep.
We frequently hear about the bundling of various insurance, financial, communications and health care services and products. Soon to be mainstream is the service of professional employer organizations (PEOs). PEOs are the bundlers of effective and efficient payroll administration, including state-of-the-art time-keeping solutions, workers’ compensation insurance and claims management, unemployment claims management, safety programs and robust HR solutions, which are required elements of a proactive company that’s keen on profitability.
There’s a slim-to-none chance business owners have the training, certifications and time on hand to appropriately address the HR needs in their company. Since they’re not trained in this area, they don’t know what their business is missing. So the sure-fire way to incorporate the infinite advantages of a business with healthy and compliant HR is to outsource this stuff to the pros.
Another reason the HR bundle works so well for the small to medium-sized business is this provider (PEO) has shared liability. No one can better protect a business than someone with shared skin in the game, especially if it’s a highly accredited and credentialed PEO with the proven business acumen and financial wherewithal.
It’s not easy to staff highly credentialed and certified personnel with the tenured experience and professionalism to handle HR for a business of two to 200 employees, and it isn’t cost effective – they don’t come cheap.
It’s good business to ensure you’re legally protected while implementing worksite policies and procedures that provide positive employee morale. Recruit and encourage a higher level of employees to your place of business by providing the most robust benefits offering you can afford. If a full-blown health care plan isn’t affordable, you might want to offer alternative plans that don’t require your participation.
Not much should take priority over setting up a legally compliant HR structure in one’s business. Neglectful HR management isn’t always intentional, but too often, it’s the norm. Quite frankly, it puts you in behind in obtaining goals, causes chaos in the workplace and ups the ante in multiple areas of risk.
If you’re outsourcing your HR, ensure you’re working with a highly accredited PEO that has ESAC certification (it’s like FDIC for the banking industry). Review PEO credentials at Napeo.org.
Another verified risk-management strategy is to partner with a PEO that is a “certified” self-insured workers’ compensation insurance provider. A “certified” self-insured workers’ compensation insurance program has been proven to offer the best experience modifier protection due to their stringent claims administration and an enhanced safety protocol. There is only one PEO in Texas that meets this criterion, and it is headquartered in Corpus Christi: UniqueHR.
Connie Laughlin is a business consultant for UniqueHR. For more information, you may contact her at 361-852-6392 or email@example.com.