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.
The past two years have been hard on businesses everywhere, so we first want to take a moment to applaud you for continuing to preserve during unprecedented times. Thankfully, we can view 2022 as a fresh start – a year that brings new opportunities on the horizon. This can be exciting, but we also understand that it can also be confusing if you don’t know where to start or feel inexperienced. You don’t have to face it alone, though. A PEO can help you conquer the goals you have set for the year and reach milestones you might not have even considered possible.
Business Goal 1: Reduce Risks / Costs
Trying to cut business costs in the new year? That’s a great goal. Partnering with a PEO saves time and money, and also can reduce – and even eliminate – many risks that come with operating a business. The National Association of Professional Employer Organizations (NAPEO) found that PEO partnerships have proven to lower administrative costs by approximately $450 lower per employee. This is because PEOs can offer HR solutions more efficiently and cost-effectively. PEOS can also offer clients access to plans and deals that would not be available to them as a non-PEO business.
Business Goal 2: Peace of Mind
Do you want to feel more confident when making business decisions? Or do you often need second opinions when trying to choose the best solution for your specific circumstance? By partnering with a PEO, you can rest assured knowing there’s a team of experts that have your best interest in mind. In fact, PEO partnerships have proven to reduce the chances of going out of business by 50% (NAPEO). That’s a real sense of relief. This peace of mind translates into actually unplugging during a vacation, being able to attend your child’s school play, and no more business-related nightmares interrupting your beauty sleep.
Business Goal 3: Have Experts in Your Circle + Access to Innovative Technology
It can be time-consuming to stay up to date with best practices and technological advancements. The good news? With a PEO partnership, you don’t have to. A PEO has access to the most innovative HR technologies, meaning your business will no longer be stuck in the old ways of conducting business. Our clients have 24/7 access to our Online Human Resources Information System (HRIS), which makes updating and accessing information simpler than ever. Clients also get to take part in our innovative cloud payroll solutions that simplify even the most complex workflows, which includes complimentary training and a dedicated member of our team to assist you every step of the way.
Your organization deserves to thrive in 2022. Let INVO take responsibility for your pesky business tasks so you can focus on the activities you enjoy most. Contact our team of experts to learn more about our human resources solutions.
As we head full force into the fourth quarter (Q4) of the year, some businesses will experience a natural slowdown while others will become even busier. Regardless of sales, Q4 is stressful for everyone. With a to-do list that runs miles long, it is hard to know which task to start with first. However, it doesn’t have to be this way. Although it seems like the end of the year is still far away, preparing now can save you many headaches as December 31st approaches. Here are just a few areas to focus on in anticipation of the new year.
Outsourcing your Human Resources functions can greatly increase your return on investment. However, many aspirational medium and small business owners analyze the structure of some of the most successful companies and attempt to replicate it hoping for the same results. However, small or medium businesses should be doing the opposite.
You’ve decided to outsource your payroll, but now what? One of the most difficult and most common decisions that business owners face is which type of payroll outsourcing to utilize—either a Payroll Service Provider (PSP) or a Professional Employer Organization (PEO).
In addition to all the incredible health and wellness benefits you receive by being an employee with INVO PEO, there are several other employee benefits plans to help make your life easier. We have partnered with a variety of service providers show our appreciation for all the hard work our employees do.
Interested in learning more about our solutions? Let’s talk.