Before we dive too deep into the details of PEO workers’ compensation solutions, let’s first define the term together. Nationwide defines workers’ compensation as a type of insurance that “provides medical expenses, lost wages, and rehabilitation costs to employees who are injured or become ill in the course and scope of their job. It also pays death benefits to families of employees who are killed on the job.”
Of course, we all want our employees to be happy, healthy, and safe. But when a crisis occurs, it’s good to know you’re not alone and that you have a proper plan in place. Most states actually require organizations with employees (who are not owners of the business), to purchase workers’ compensation to cover their employees if a problem were to arise. In fact, businesses that do not provide workers’ compensation coverage can face severe — and often extremely expensive — consequences. Punishments can range from paying claims out of pocket, penalty fines, imprisonment, and potentially losing the ability to conduct business in their home state. These repercussions can cause real harm to an organization’s financial state and/or reputation. Thankfully, these concerns can be eliminated with the proper workers’ comp packages and awareness. PEOs like INVO offer safety and prevention, cost containment, aggressive fraud investigation, and diversion programs to give you the comprehensive workers’ compensation solution you are looking for.
Modern workers’ compensation helps injured workers recover faster with minimal damage to the business. By partnering with a PEO, your business can better navigate the confusing, bureaucratic workers’ compensation landscape. The INVO team is skilled in all aspects of workers’ compensation to protect our clients and their employees. Learn more about our unique business solutions by contacting our team of seasoned business professionals.
Even with extreme caution and care, some risks are difficult to manage or even predict. Now more than ever, risk management is a crucial aspect of running a business, meaning it can become time-consuming and confusing. Luckily, there are steps you can take to keep your hard work and investment as secure and safe as possible, and by partnering with a PEO, you can ensure any potential risks are handled accordingly. The INVO team looks at client risk management from two perspectives: managing the risk of being an employer and managing the safety risks associated with your employees’ tasks. By partnering with INVO PEO, you can reduce – and even eliminate – many of those risks, including those associated with compliance, employer practices, tax filings, and human resources. Costly injuries can harm your business for years to come, meaning it’s better to be prepared than sorry.
Here are just a few ways a PEO like INVO can help organizations manage risks:
Workers’ Compensation: PEOs offer safety and prevention, cost containment, aggressive fraud investigation, and diversion programs to give you the comprehensive workers’ compensation solution you are looking for.
Employee Handbooks and Policy Manuals: Policy manuals, including things such as drug and alcohol policies, post-accident policies, and dress code policies, provide essential information relating to business processes and standards for performance and more.
Compliance Services: Compliance issues can pose a major risk to business owners, and no one wants to be fined by the IRS or Department of Labor. PEOs can mitigate many of these risks and safeguard your hard work.
We understand that you want your employees to be safe and productive — we do, too! PEOs offer risk management strategies that help you resolve any issues that could put your company and your employees at risk. Be prepared to handle anything that comes your way. Let’s work together.
We get it, it can be difficult to hand over responsibility for something you love, such as your business. Outsourcing certain tasks shows great wisdom – that you understand your own strengths and weaknesses and can adjust accordingly. While you might think you’ll survive doing it yourself, your organization deserves to thrive. In fact, we’ve been helping businesses do just that for 10 years now.
Now that you understand that outsourcing is not a sign of inability, consider a few things before choosing to partner with a Professional Employer Organization (PEO). Like most things in life, there is no one-size-fits-all solution for PEO services. The good news, though, is that INVO works with organizations across various industries, ranging from construction to hospitality, offering solutions that are catered to their specific needs. We don’t believe in cookie cutter answers around here.
When you need/want to focus on other tasks
Your responsibilities have probably changed as your business has continued to grow and adapt. If you find yourself not feeling proficient in certain tasks that are now on the top of your to-do list, it’s time to consider outsourcing them to experts. By outsourcing pesky or strenuous duties, you’ll have more time to focus on the parts of your business you excel at.
When you can’t keep up with business growth
Scaling fast can be exciting, but it should be taken seriously. It might be easy to get lost in the excitement that comes with a boom in business. If you find yourself behind on deadlines or unable to manage duties due to expedited growth, it’s time to consider outsourcing. Capitalizing on growth is crucial, don’t miss out on opportunities because of a lack of time or internal resources!
When you aren’t comfortable with new methods
No worries, we understand that not everyone wants to be tech savvy. While some traditional HR practices are still used today, many elements of business have continued to adapt to modern times. Even more so, best practices can change quickly. Don’t get stuck in the old way of doing things just because it has become routine. You deserve innovative programming that delivers the results you need and want.
Our team of seasoned business professionals can help make the transition to outsourcing seamless and worthwhile. There’s no better time to partner with a PEO than at the beginning of the year – contact the INVO team for more information on our solutions.
You’ve hired a new team member and are excited to welcome them to the team. But in the work-from-home culture we’ve become accustomed to, how can your business ensure that they still feel connected to the team and
Approximately 70% of people report that their employer has a responsibility to ensure their employees are mentally, physically, and financially well, according to The 2021 Workplace Wellness Survey by the Employee Benefit Research Institute (EBRI) and Greenwald
Just as you’ve heard a million times before, COVID-19 has left its mark on various aspects of our day-to-day lives, but most significantly; the workforce. As business returns to normal, and the days of remote work dwindle down, your HR department is likely battling how to approach their return to the office and how to help the business, and employees, thrive post-COVID.
shocking 95% of employees are considering walking away from their current job, according to a “Great Resignation” report from Monster. For some, there is no deal their management team could present that would defer their departure. However, those who are still on the fence are reflecting on various factors including new benefit offerings. Now more than ever, employers have the opportunity to transform employee perspectives and retain their employees by understanding their desires and expectations.
Interested in learning more about our solutions? Let’s talk.