Fortune Business Consulting

Tag: PEO| HR Outsourcing | Commercial Insurance | Payroll | Workers Compensation – Fortune Business Consulting | Coronavirus | COVID- 19 | Coronavirus Disease

  • When “It’s Just Payroll” Becomes a $20K Fine 

    When “It’s Just Payroll” Becomes a $20K Fine 

    Many small business owners think of payroll as a back-office task—just cutting checks and sending pay slips. But payroll isn’t just about payment; it’s a compliance-heavy process with real legal consequences. 

    In 2025, regulatory bodies will crack down on payroll errors, and small businesses are the most vulnerable. A “minor” oversight in wage calculation, classification, or tax submission can easily spiral into a lawsuit, audit, or a hefty fine—often over $20,000.

    Misclassifying Employees vs. Contractors 

    One of the most common payroll mistakes is misclassifying employees as independent contractors to avoid taxes or benefits. This might save money short-term, but once flagged by labor departments, the penalties include: 

    • Back pay for overtime and benefits 
    • Employer payroll taxes 
    • Additional federal/state fines 

    Avoid this by reviewing classification laws like the IRS 20-factor test and using local labor guidelines. 

    Missing Tax Deadlines 

    Payroll involves more than just salaries—it includes federal and state tax withholdings, unemployment insurance, and social security contributions. Missing deadlines for filing forms like 941, W-2, or 1099 can trigger automatic penalties. 

    • Late W-2 filing penalty: up to $290 per form 
    • Failure to deposit payroll taxes: up to 15% interest + penalties 
    • Incorrect TIN: $50 per incorrect return 

    Protect your business by using automated payroll software that tracks due dates and files directly with tax agencies. 

    Failing to Track Overtime or Breaks 

    Most labor laws require overtime for non-exempt employees working over 40 hours a week. If you aren’t tracking hours properly or paying time-and-a-half when required, that’s considered wage theft—even if accidental. 

    • Recent lawsuits have forced small businesses to: 
    • Pay years of backdated overtime 
    • Cover legal fees for employees 
    • Face public backlash and reputation damage  

    Fix this by implementing a compliant time-tracking system and ensuring managers understand local labor laws. 

    Inaccurate Record Keeping 

    Payroll records must be kept for several years, depending on your jurisdiction. Inaccurate or missing records during an audit can make you liable—even if you were paying correctly. 

    • Fines can go up to $1,100 per missing record 
    • Businesses may be barred from government contracts 

    Stay compliant by maintaining digital records for at least 3–5 years and backing them up securely. 

    Conclusion 

    Payroll is not “just admin.” It’s a compliance function with financial and legal exposure. As your team grows and regulations evolve, outsourcing to a PEO or using payroll specialists may save you more than DIY errors ever could. 

    Reference

  • No, HR Isn’t Just for Big Companies 

    No, HR Isn’t Just for Big Companies 

    It is alarming how business owners believe they can “grow into” needing HR. But in 2025, that mindset is costing startups and SMEs real money. HR isn’t about building corporate bureaucracy—it’s about protecting your people, your time, and your business from early-stage mistakes. 

    Hiring Without Compliance = Risk 

    Startups often skip formal hiring processes, relying on referrals, rushed interviews, or handshake agreements. The problem? No offer letters, no job descriptions, and no onboarding protocols. 

    That leads to: 

    • Miscommunication of job roles 
    • Legal risks over at-will vs. contract terms 
    • Poor performance tracking and accountability 

    Solve this by establishing basic HR documentation from Day 1—even if you’re hiring your first employee. 

    No HR? Expect High Turnover 

    Small teams feel every resignation. But when employees leave because of burnout, favoritism, or poor communication, it’s often a symptom of a poor HR structure. 

    Without HR: 

    • There’s no system to handle grievances 
    • Burnout goes unnoticed 
    • Promotions feel biased or unclear 

    Protect retention by creating basic HR protocols: onboarding, reviews, feedback loops, and growth plans. 

    HR Helps Avoid Costly Employment Lawsuits 

    Wrongful termination, discrimination, harassment—these issues are not limited to large companies. A single employment claim can bankrupt a small business. 

    In the absence of HR: 

    • There are no clear policies in place 
    • There’s no paper trail to defend decisions 
    • No internal reporting systems exist 

    Avoid this by implementing handbooks, codes of conduct, and proper documentation—especially if you’re in a state with strict labor laws. 

    You’re Already Doing HR—Just Badly 

    If you’re setting salaries, negotiating work-from-home rules, or resolving team conflicts—congratulations, you’re doing HR. The real question is: are you doing it legally, consistently, and effectively? 

    A dedicated HR system or a fractional HR partner can: 

    • Standardize your hiring and reviews 
    • Handle sensitive issues confidentially 
    • Keep you compliant with local labor laws 

    Conclusion 

    HR is not about headcount—it’s about structure, protection, and long-term scale. Whether you’re a 3-person agency or a 30-person tech startup, investing in HR now prevents expensive mistakes later. Don’t wait for lawsuits, walkouts, or tax audits to start taking HR seriously. 

    Reference

  • You Hired Fast. Now You’re Firing Wrong. 

    You Hired Fast. Now You’re Firing Wrong. 

    Because no policy is still a policy… and it might cost you more than you think. 

    When startups scale, speed often becomes a double-edged sword. You boarded fast. Filled in gaps. Trust your gut. Hope for the best. But now the honeymoon phase is over.  A recent hire isn’t performing. There’s tension. Productivity is dropping. Your team is frustrated. And you’re ready to let them go. But wait—do you have: 

    • Documentation of their performance issues? 
    • A signed employee handbook? 
    • Proof of consistent treatment across all employees? 
    • A compliant termination process? 

    If not, you’re not just firing wrong—you’re firing dangerously. 

    The Compliance Cost of “Wing It” Off boarding 

    Terminating an employee without proper HR processes opens the door to claims of: 

    • Wrongful termination 
    • Discrimination 
    • Retaliation 
    • Hostile work environment 

    In fact, wrongful termination lawsuits have been increasing steadily.  Most small businesses don’t think this could happen to them—until it does. 

    What You Thought Firing Would Look Like: 

    • Quick meeting 
    • Professional goodbye 
    • Moving forward 

    What It Can Actually Look Like Without HR Support: 

    • A formal demand letter 
    • Legal consultations 
    • Public reviews and damage contro 
    • Burned out internal teams 
    • Massive payouts 

    Enter the PEO: Your HR Safety Net 

    A Professional Employer Organization (PEO) doesn’t just help with hiring. It gives you the legal and structural backbone to exit an employee legally, fairly, and with minimal risk.  Here’s what that looks like: 

    Documented Performance Reviews 

    PEOs help establish performance management systems that track: 

    • Goals set and missed 
    • Feedback delivered 
    • Actions taken 
    • Warnings issued 

    No guesswork. Just clear records. 

    Termination Protocols 

    From verbal warnings to final separation, PEOs create standardized procedures aligned with labor law and state-specific compliance rules. 

    Legal Support On-Call 

    If a situation gets tricky, PEOs provide: 

    • Immediate HR guidance 
    • Legal review of documentation 
    • Support during difficult exit

    Think of it as your HR pit crew—handling the friction, so your business keeps moving. 

    The Real Cost of Getting It Wrong 

    According to SHRM, the cost of one wrongful termination lawsuit—even if you win—can range from $75,000 to $125,000 in legal fees and productivity loss.  Worse, it’s not just about one employee. The morale hit, reputational damage, and internal tension can ripple across your team

    PEOs Prevent These Scenarios by Design 

    Instead of reactive HR, you get proactive protection: 

    • Pre-written policies 
    • Documented performance systems 
    • Legal compliance checkpoints 
    • Strategic workforce planning 
    • Conflict de-escalation mechanisms 

    You’re no longer just “firing” someone—you’re managing risk the right way. 

    Firing Isn’t the Problem. Unstructured Offboarding Is. 

    Letting go of someone who doesn’t fit is sometimes the right move. But how matters as much as the why. And if you’re growing, the stakes are too high to keep guessing your way through terminations.  So, before your next hire becomes your next HR nightmare, ask: 

    “Are we protected if this doesn’t work out?”  If the answer is no, it’s time to bring in a PEO. 

    References: 

  • You Don’t Need a PEO—Until Your Best Employee Quits and Sues 

    You Don’t Need a PEO—Until Your Best Employee Quits and Sues 

    There’s no siren. No Slack ping. No dramatic exit. Just a resignation letter. 

    But two weeks later, there’s an email from their attorney. What started as a simple departure has spiraled into a legal complaint—and now you’re questioning every policy, every payroll entry, every email sent during that employee’s time with your business.  And here’s the real kicker: 
    It could have been prevented

    HR Fires Don’t Always Start Loud 

    Small businesses often believe they can manage HR “in-house”—until something breaks down. And by then, it’s usually expensive.  One misunderstood termination. A payroll delay. The benefits of miscommunication. When these things stack up, your top talent doesn’t just leave—they take their frustrations to court. That’s when the true value of a PEO (Professional Employer Organization) becomes painfully clear. 

    The Problem Most Founders Don’t See Coming 

    When you build your business without HR infrastructure, you’re building cracks beneath the surface. 

    • You hire fast to keep up with demand 
      • You rely on templates for contracts and policies 
      • You assume “everyone’s fine” because no one’s complaining until they do

    What You Thought You Were Doing Right: 

    • sing an HR tool to onboard new hires 
      • Having a payroll software to handle salaries 
      • Providing “basic” benefits like health insurance 

    What Actually Happened: 

    • An outdated employment contract didn’t protect your company 
    • • A missed compliance update led to unlawful dismissal 
    • • The benefit plan wasn’t competitive—so they left for better 
    • And worse: you were caught completely off guard. 

    What a PEO Could’ve Prevented: 

    • Proper documentation for terminations 
    • Access to legal HR advisors before decisions are made 
    • Competitive benefits that retain high performers 
    • Real-time compliance updates, not outdated policy templates 
    • A formal grievance and resolution process 

    The Cost of Waiting Until It’s Too Late

    The average employment lawsuit costs businesses $125,000+, according to Hiscox’s Guide to Employee Lawsuits.  Even if you win, the cost in legal fees, time, and brand trust is irreversible.  A PEO, on the other hand, costs a fraction of that—and prevents most issues before they become threats. 

    The Employee Who Left Shouldn’t Be the One Who Teaches You the Lesson 

    Smart HR isn’t just paperwork. It’s prevention.  When the right systems, advisors, and benefits are in place, your people stay—and when they don’t, your business is still protected. You don’t need a PEO… 
    Until the moment you wish you had one yesterday. 

    Ready to talk about PEO support before something breaks? 

    Let’s explore what it would look like for your business. 

    References: 
  • What Your Balance Sheet Doesn’t Show: The Real Business Value of a PEO

    What Your Balance Sheet Doesn’t Show: The Real Business Value of a PEO

    Because sometimes, the biggest profits come from what you didn’t lose.  You won’t see it at first glance. 

    There’s no flashing red alert. No urgent Slack message. No budget meeting meltdown. Just a quiet, consistent drain happening behind the scenes of your growing business. It might show up in the form of a compliance fine you didn’t see coming. Or the resignation of a high  performer after one too many payroll glitches. Or worse—lawsuits, turnover, and missed opportunities stacked like hidden fees under “Operating Expenses.”  But here’s the twist: 

    Most of those losses could’ve been avoided… with the right PEO. 

    The ROI You Can’t Calculate (Until It’s Too Late) 

    When most business owners consider a PEO (Professional Employer Organization), they look at costs upfront—and often forget to assess the costs of not having one.  A PEO’s ROI is rarely found in flashy dashboards or spreadsheets.

      It’s found in the: 

    • Lawsuit that never happened 
    • Star employee who stayed because of better benefits 
    • Penalty that was prevented before it was ever filed 
    • HR fire that never reached your desk 

    What You Think You’re Paying For: 

    • Payroll processing 
    • Employee onboarding 
    • Compliance checklists 
    • Benefit access 

    What You’re Actually Getting: 

    • Legal protection 
    • Risk prevention 
    • Strategic HR planning 
    • Improved retention 
    • Business continuity 
    • Peace of mind 

    And most importantly—time back to lead, not chase admin. 

    The Cost of an HR Mistake Can Be 10x the PEO Fee 

    An EEOC violation alone can cost between $10,000 and $100,000.  Wage and hour lawsuits? Even more. According to the Society for Human Resource Management (SHRM), the average cost of just one bad hire is nearly $240,000 when your account for lost productivity, morale damage, and rehiring expenses.  A PEO minimizes those odds with structured hiring processes, HR best practices, and access to experts who live and breathe compliance. 

    Better Benefits Without Bleeding Cash 

    By co-employing your staff, PEOs give you access to benefits typically reserved for large corporations: 

    • Group health insurance 
    • 401(k) plans 
    • Mental health support 
    • Wellness programs 
    • Workers comp coverage 

    And because you’re part of a larger buying pool, you get enterprise-level coverage at SMB prices.  According to the National Association of Professional Employer Organizations (NAPEO), companies that use a PEO: 

    • Grow 7–9% faster 
    • Experience 10–14% lower employee turnover 
    • Are 50% less likely to go out of business 

    Time is the New Currency 

    Most CEOs don’t start businesses to become part-time HR managers.  But when compliance updates change weekly, employees need questions answered, and hiring surges overnight, you end up buried in tasks that take you away from growth.  A PEO handles the operational chaos, so you can focus on: 

    • Launching new services 
    • Expanding into new markets 
    • Leading your team 
    • Building client relationships 

    Talent Stays Where HR Works 

    Quiet quitting. Burnout. Lack of development. These aren’t just HR buzzwords—they’re indicators that your people feel unsupported. PEOs don’t just process paperwork. They build cultures. From onboarding design to fair policies and performance tracking, they help businesses create environments where employees want to stay—and thrive. 

    Risk Is the Hidden Killer of Growth 

    Think your business is too small to get sued? Think again.  One compliance misstep could derail everything you’ve built. And here’s the worst part: you often don’t know it’s coming until it hits.  A PEO keeps you ahead of risk with: 

    • Up-to-date legal guidance 
    • Automated filings 
    • Employee handbook developmen 
    • Investigations and conflict resolution 
    • On-demand HR counsel 

    So, What’s the Real ROI of a PEO? It’s not just savings—it’s security, scale, and strategy. In a time when regulations are shifting, talent is scarce, and competition is cutthroat, your HR setup shouldn’t just help you survive. It should fuel your ability to thrive  Thinking Beyond Cost—Thinking Growth . The smartest business owners aren’t asking “What does a PEO cost?”  They’re asking: 

    “What’s it costing me not to have one?” 

    Ready to see the hidden ROI for yourself? Let’s explore what a PEO would look like for your business. Prefer to read more success stories and insights? Browse the rest of the series here.  

    References

    • Beyond Payroll: The Hidden Liabilities Lurking in DIY HR

      Beyond Payroll: The Hidden Liabilities Lurking in DIY HR

      You thought payroll software was the hard part? Think again. It started with a late-night call from the accountant. A former contractor had filed for unemployment but… contractors don’t get unemployment benefits, right? Wrong. That’s when the panic started. Turns out, your HR software may have misclassified a worker. Not on purpose—but software doesn’t catch gray areas. It calculates. It doesn’t caution. It processes—not protects. This is the challenge with DIY HR. For fast-scaling businesses, juggling payroll tools, spreadsheets, and guesswork, it’s a lawsuit waiting to happen. A PEO (Professional Employer Organization) does more than automate tasks—it shoulders risk, shares liability, and becomes your HR shield. 

      In this post, we’ll expose the hidden landmines buried under DIY HR practices and show how a PEO helps you avoid penalties, reduce risk, and stay compliant while you grow. 

      Employee Misclassification: A Hidden Tax Bomb 

      The IRS and Department of Labor take misclassification seriously. If you’re labeling someone a 1099 contractor when legally they’re a W-2 employee, you could be responsible for back taxes, overtime, benefits, and penalties.  

      Payroll software won’t stop you, it’ll let you misclassify with confidence. 

      A PEO helps you assess roles, responsibilities, and control factors to properly classify every worker. It also provides documentation and legal guidance if you’re audited. 

      FMLA, OSHA, and ADA Compliance: You’re Expected to Know 

      Most small businesses assume that if they’re under 50 employees, federal HR laws don’t apply. That’s not always true. State laws often kick in sooner, and certain industries like healthcare or construction, face additional compliance layers. 

      Your software won’t flag that. A PEO will. (HR software cannot flag a misclassification. A PEO is the fine-tooth comb that ensures any errors are caught) 

      PEOs provide guidance on: 

      • FMLA eligibility and leave tracking 
      • OSHA reporting and safety training 
      • ADA accommodation policies 
      • HIPAA and employee privacy 

      They don’t just give templates—they give advice that fits your state, your sector, and your risk profile. 

      Onboarding and Termination Errors = Lawsuit Triggers 

      Hiring and firing seem straightforward—until they’re not. Terminating an employee without the right documentation, or onboarding someone without signed policies, can open the door to lawsuits, unemployment claims, or discrimination complaints. Most payroll software doesn’t track: 

      • Progressive discipline 
      • Acknowledgment of policies 
      • Compliance training 
      • Exit interview documentation 

      A PEO keeps audit trials, generates compliant paperwork, and coaches your managers on how to avoid unlawful termination claims. 

      Handbooks and Policies That Aren’t Legally Binding 

      Google can’t write your employee handbook and even if it did, labor laws are constantly changing. There is no one-size-fits-all solution. 

      Many DIY HR handbooks: 

      • Use outdated legal terms 
      • Don’t include state-mandated policies (e.g., meal breaks, paid sick leave) 
      • Lack signed acknowledgments 
      • Are unenforceable in court 

      A PEO crafts a legally compliant handbook that’s reviewed annually. It ensures your team is trained on policies and that disciplinary procedures hold up if challenged. 

      Benefits Missteps: You Could Be Breaking the Law (Not Just Losing Talent) 

      Offering benefits without understanding your fiduciary obligations? You could be violating ERISA (Employee Retirement Income Security Act). 

      Common DIY HR mistakes: 

      • Offering retirement plans without proper documentation 
      • Mishandling open enrollment deadlines 
      • Failing to disclose plan changes 
      • Providing healthcare to contractors (invalidating classification) 

      PEOs administer benefits under their umbrella. This means: 

      • Better rates via group purchasing 
      • Accurate ACA reporting 
      • COBRA compliance 
      • Proper benefits election documentation 

      Wage and Hour Pitfalls: Your Software Won’t Alert You 

      Do you think your time-tracking system covers you? Think again. Most lawsuits in labor courts revolve around unpaid overtime, improper rounding, and rest break violations. 

      Payroll software may not: 

      • Flag improper tip pooling 
      • Handle minor labor laws for teenage workers 
      • Comply with California’s strict overtime calculations 
      • A PEO has HR professionals who audit your timesheets and coach your managers on compliant scheduling. 

      You’re Alone in a Crisis—Unless You Have a PEO 

      Whether it’s a data breach, an employee lawsuit, or a harassment allegation—crises happen. And software won’t jump on a call with you at 7 AM to guide your response. A PEO will. 

      They assist with: 

      • Crisis communications 
      • Internal investigations 
      • Legal counsel coordinatio 
      • Employee relations and sensitivity training 

      Think about it: Would you rather explain yourself in court… or prevent the lawsuit altogether? 

      Final Thought: DIY HR Is a Liability, not a Savings Plan 

      Payroll software is a tool. But it’s not a team. 

      When you rely on DIY HR solutions: 

      1. You assume all the risk 
      2. You lose compliance coverage 
      3. You miss red flags 
      4. When you work with a PEO: 
      5. You reduce liability 
      6. You gain proactive support 
      7. You unlock expert guidance at every turn 
      8. If your business is growing, your HR shouldn’t be guessing. 
      9. A PEO doesn’t replace your payroll software—it replaces your anxiety. 

      References 

    • What Your Payroll Software Won’t Tell You (But a PEO Will) 

      What Your Payroll Software Won’t Tell You (But a PEO Will) 

      It started with a missed tax deadline. 

      Not a big one—just a quarterly filing that slipped through the cracks. The finance manager blamed the software: “It didn’t alert me.” The CEO, tired of last-minute scrambles and constant legal anxiety, called a meeting. On the whiteboard were three words: “We need help.” 

      Like many growing companies, they had outgrown the convenience of their payroll software without realizing it. The platform they once celebrated for automating salaries and taxes had become a silent bottleneck. It handled numbers but ignored nuance. It knew dates but not regulations. It printed pay stubs but couldn’t solve compliance puzzles or provide HR strategy. 

      This wasn’t a software problem. It was a growth problem. 

      And it’s more common than most business owners realize. 

      The truth? Payroll software is built for management—not for mitigation. It’s reactive. It’s linear. And it’s just one piece of a puzzle that includes compliance risks, employee satisfaction, benefits administration, workplace safety, and people management. 

      So, while payroll software calculates, a PEO counsels. 

      This blog dives into the overlooked truths your payroll software won’t tell you—secrets that a good PEO knows by heart. Because payroll is just the start of the story… and your business deserves a better ending. 

      1. Payroll Software Focuses on Numbers, Not People 

      Payroll software is excellent at crunching data. It can process paychecks, calculate taxes, and generate W-2s. But what happens when an employee disputes overtime hours? Or when a team member goes on extended leave under FMLA? Software can’t mediate, interpret legal nuances, or anticipate human concerns. 

      A PEO brings a human touch to HR and payroll. It comes with experts who understand both the emotional and legal dimensions of employee management. Whether it’s compliance with federal leave laws, dealing with misclassification risks, or setting up fair employee policies, a PEO offers holistic support that software can’t. 

      Example: If you run a business in multiple states, your payroll software may not account for nuanced regional laws. A PEO, however, is built to manage multi-state compliance seamlessly  

      2. Compliance Isn’t Optional—But Payroll Software Treats It Like It Is 

      Did you know that according to the IRS, 33% of employers make payroll errors, and penalties for noncompliance can run to thousands of dollars per year? Most payroll software tools send alerts—but they don’t assess risk or offer strategic responses. 

      A PEO acts as a compliance partner. It monitors laws, updates document, trains your team, and ensures every form is filed on time and correctly. 

      Key Areas Covered by PEOs: 

      ACA compliance 

      Employee classification (W-2 vs. 1099) 

      Wage and hour laws 

      State-by-state employment laws 

      COVID-19-related leave policies (now winding down, but still relevant in audits) 

      3. Payroll Software Isn’t Designed for Strategic Growth 

      Your payroll software can’t help you analyze turnover, forecast hiring needs, or strategize your benefits packages to attract top talent. A PEO can. 

      A PEO provides data-backed insights into HR trends. It helps you create workforce plans, build retention strategies, and benchmark compensation packages. Payroll software sees transactions; a PEO sees trends. 

      Strategic Insights from PEOs Include: 

      Turnover risk modeling 

      Employee engagement surveys 

      Compensation benchmarking 

      Talent acquisition support 

      4. Payroll Software Doesn’t Reduce Liability—It Outsources Responsibility 

      Many business owners assume that using software means they’re covered legally. Not true. Payroll errors, wrongful terminations, and poor documentation still leave the business fully liable. 

      PEOs often operate under a co-employment model. This means they share certain legal responsibilities with you—essentially becoming a partner in protecting your business. They help with: 

      Claims management 

      Risk mitigation training 

      Workplace safety protocols 

      5. PEOs Offer Access to Big-Business Benefits 

      Small businesses using payroll software alone often can’t access affordable healthcare, 401(k) plans, or wellness programs. PEOs pool multiple clients to negotiate better benefits at lower costs. You become part of a bigger bargaining unit. 

      Benefits Administered by PEOs: 

      Medical, dental, vision insurance 

      401(k) retirement plans 

      Life and disability insurance 

      Employee wellness programs 

      This results in happier employees and improved retention. 

      6. Payroll Software Has No Face 

      When issues arise—like a wage garnishment notice, a harassment complaint, or an emergency leave—who do you call? Most payroll software companies route you through chatbots or low-tier customer service reps. 

      With a PEO, you get dedicated specialists—real people who know your business and guide you through difficult situations. From HR advisors to legal counsel, they don’t just troubleshoot—they protect. 

      Real Business Case: Sequoia’s Data Breach 

      In late 2022, Sequoia, a payroll and HR platform, experienced a major data breach. Employee names, addresses, social security numbers, and more were exposed. This highlighted a crucial truth: software is vulnerable. 

      A good PEO invests in layered security systems, data redundancy, and crisis communication plans. And more importantly, they walk you through recovery—not leave you to read help articles. 

      Conclusion

      Payroll Software Is a Tool. A PEO Is a Partner. 

      Your payroll software can cut checks and calculate taxes. But it can’t: 

      Anticipate risk 

      Guide leadership decisions 

      Offer employee counseling 

      Provide legal defense 

      Help you grow strategically 

      A PEO does all of that—and more. 

      So, here’s the big question: Is your business growing faster than your software can keep up with? 

      If yes, maybe it’s time to look beyond automation… and lean into partnership. 

      References

      1. Business.com – Surprising Perks of PEOs 
        https://www.business.com/articles/surprising-perks-peos/  
      2. ExtensisHR – PEOs and Risk Management 
        https://extensishr.com/resource/blogs/peos-and-risk-management/  
      3. Paycor – Pros and Cons of Using a PEO  
        https://www.paycor.com/resource-center/articles/pros-and-cons-of-using-a-peo-company/  
      4. US Chamber – PEOs vs Payroll Services 
        https://www.uschamber.com/co/co-100 
      5. Wired – Sequoia Data Breach 
        https://www.wired.com/story/sequoia-hr-data-breach/ 
      6.  APSPayroll – Talk PEOs: Pros & Cons 
        https://apspayroll.com/blog/talk-peos-pros-cons/
      7.   EmployBorderless – Payroll Systems 
        https://employborderless.com/payroll/systems/  
         
         
         
         
    • Know How to Help Your Employees in Career Development While on the Job

      Know How to Help Your Employees in Career Development While on the Job

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      Every employee joins an organization expecting it will help them grow in their career. For it, employees also work hard and show their dedication. However, when managers neglect to have an important conversation about career development and what an employee’s future looks like, it hurts workers’ morale and productivity. As a result, leaving them feeling unappreciated. 

      So, what can a manager do to maintain their employee’s motivation and increase their retention rate?

      Here are a few ways to give employees a sense of importance and job satisfaction. It lays down the path of career development for them and ensures the growth of both employees and the company.

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      6 Ways to Help Employees Build Their Career While on Their Job

      Here are six important ways describing how management can add to the professional advancement of their employees for a better future:

      • Understand the Employees’ Aspirations

      Managers must take a personal interest in their employees’ near- and long-term aspirations. As a result, it gives them a better understanding of how to align and develop the skill of employees to achieve company priorities. In addition, when there is clear, consistent, and direct communication between the boss and their employees, workers feel more engaged and loyal.

      • Help Employees Find Their Fit into the Company

      When an employee joins a company, he or she works in his or her shell or under the contribution of his or her team. Here, managers must help their employees see how they fit in the company to contribute to its vision, mission, and goal. This brings a sense of value to workers who work hard to connect their daily actions in contributing to the company’s overall growth.

      • Maintain a Work-Life Balance Within the Organisation

      Recently as many companies adopted work from the home culture, it interfered in maintaining a work-life balance for employees. People working at home tend to save their energy to maintain a positive home environment. This blurs the line separating home and workplace. 

      So, while companies monitor the total hours worked by their employees every week, management must also ensure they are not burdening their employees. This maintains productivity level and the scope for career development.

      • Hold Training and Development Sessions Regularly

      Regular training sessions and development programs are the basic steps to fuel employee career growth. Thankfully, virtual learning opportunities are affordable now and create the same result in nurturing employees’ needs and skills. Not only this, but it also helps the company keep up with the new advancements introduced in the industry.

      • Keep Rotating the Duties and Position of Employees

      It is a general understanding that everyone knows that the human brain thrives on job rotation and variety. In other words, when management keeps shaking the daily routine of employees relating to working in different departments and under different roles, it helps them grab new skills and work for better career goals.

      • Be Clear About the Future of Employees 

      Last but the most important point is that management needs to keep reminding their employees how their contribution adds to the company’s mission. This further motivates them to advance in the organization and expand their responsibility.

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      Management is the foundation of every organization. It can either take the company’s progress to the sky or drag it through the mud. So, if you are looking for professional management to help your company better manage employees, look after payroll, HR services, employee compensation, and other areas, contact us. We can help you grow your business by solving your different challenges while you serve your clients. Also, check our blog to find out more about company management and services. 

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      Reference Links:

      https://www.intoo.com/us/blog/ways-to-help-employees-with-career-development/

      https://www.cloud4c.com/growing-together-ways-to-support-employee-career-advancement

      https://www.forbes.com/sites/forbesbusinesscouncil/2021/06/03/10-ways-managers-can-support-employee-career-growth/?sh=734e5f107ab7

      https://www.roberthalf.com/blog/management-tips/7-ways-to-support-employees-career-advancement

      [/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=”1″ admin_label=”Contact” _builder_version=”3.22″ background_color=”#012780″ use_background_color_gradient=”on” background_color_gradient_start=”#012780″ background_color_gradient_end=”rgba(1,39,128,0)” background_color_gradient_end_position=”60%” background_color_gradient_overlays_image=”on” background_image=”https://wordpress.fortunebizconsulting.com/wp-content/uploads/2020/03/insurance-01.png” background_size=”initial” custom_padding=”54px|0px|120px|0px|false|false”][et_pb_row module_id=”contact_form” _builder_version=”4.4.4″ background_color=”#ffffff” custom_margin=”80px|||” custom_padding=”80px|6%|80px|6%|true|true” animation_style=”zoom” animation_intensity_zoom=”-5%” animation_speed_curve=”ease-in” border_radii=”on|10px|10px|10px|10px” box_shadow_style=”preset1″ box_shadow_vertical=”40px” box_shadow_blur=”80px” box_shadow_color=”rgba(55,104,238,0.15)”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.4.4″ text_font=”Montserrat|300|||||||” text_font_size=”16px” text_line_height=”2em” header_font=”||||||||” header_2_font=”||||||||” header_2_font_size=”36px” header_2_line_height=”1.4em” text_orientation=”center” max_width=”700px” module_alignment=”center” custom_margin=”||60px|” header_2_font_size_tablet=”30px” header_2_font_size_phone=”24px” header_2_font_size_last_edited=”on|phone” locked=”off”]

      Contact Us

      Find out if a PEO is the right solution for your business.
      Fill out the form below and we will contact you to schedule a chat.

      [/et_pb_text][et_pb_contact_form use_spam_service=”on” recaptcha_list=”Default-0″ recaptcha_min_score=”0.7″ email=”stephanie@fortunebizconsulting.com” custom_message=”New Form Submission!||et_pb_line_break_holder||||et_pb_line_break_holder||First Name: %%FirstName%%||et_pb_line_break_holder||Last Name: %%LastName%%||et_pb_line_break_holder||Company Name: %%CompanyName%%||et_pb_line_break_holder||Company Email: %%CompanyEmail%%||et_pb_line_break_holder||Phone: %%Phone%%||et_pb_line_break_holder||Message: %%Message%%” module_id=”et_pb_contact_form_0″ _builder_version=”4.4.4″ form_field_background_color=”rgba(0,0,0,0)” form_field_font=”Lato||||||||” custom_button=”on” button_text_size=”14px” button_text_color=”#ffffff” button_bg_color=”#003bde” button_border_width=”10px” button_border_color=”rgba(0,0,0,0)” button_border_radius=”4px” button_letter_spacing=”1px” button_font=”Montserrat|||on|||||” border_radii=”on|6px|6px|6px|6px” border_width_all=”2px” border_color_all=”rgba(51,51,51,0.06)” form_background_color=”rgba(0,0,0,0)” button_bg_color_hover=”#0053ef” button_border_radius_hover=”4px” button_letter_spacing_hover=”1px”][et_pb_contact_field field_id=”FirstName” field_title=”First Name*” min_length=”2″ _builder_version=”4.4.4″][/et_pb_contact_field][et_pb_contact_field field_id=”LastName” field_title=”Last Name*” min_length=”2″ _builder_version=”4.4.4″ button_text_size__hover_enabled=”off” button_one_text_size__hover_enabled=”off” button_two_text_size__hover_enabled=”off” button_text_color__hover_enabled=”off” button_one_text_color__hover_enabled=”off” button_two_text_color__hover_enabled=”off” button_border_width__hover_enabled=”off” button_one_border_width__hover_enabled=”off” button_two_border_width__hover_enabled=”off” button_border_color__hover_enabled=”off” button_one_border_color__hover_enabled=”off” button_two_border_color__hover_enabled=”off” button_border_radius__hover_enabled=”off” button_one_border_radius__hover_enabled=”off” button_two_border_radius__hover_enabled=”off” button_letter_spacing__hover_enabled=”off” button_one_letter_spacing__hover_enabled=”off” button_two_letter_spacing__hover_enabled=”off” button_bg_color__hover_enabled=”off” button_one_bg_color__hover_enabled=”off” button_two_bg_color__hover_enabled=”off”][/et_pb_contact_field][et_pb_contact_field field_id=”CompanyName” field_title=”Company Name*” min_length=”2″ _builder_version=”4.4.4″][/et_pb_contact_field][et_pb_contact_field field_id=”CompanyEmail” field_title=”Company Email*” field_type=”email” _builder_version=”4.4.4″ button_text_size__hover_enabled=”off” button_one_text_size__hover_enabled=”off” button_two_text_size__hover_enabled=”off” button_text_color__hover_enabled=”off” button_one_text_color__hover_enabled=”off” button_two_text_color__hover_enabled=”off” button_border_width__hover_enabled=”off” button_one_border_width__hover_enabled=”off” button_two_border_width__hover_enabled=”off” button_border_color__hover_enabled=”off” button_one_border_color__hover_enabled=”off” button_two_border_color__hover_enabled=”off” button_border_radius__hover_enabled=”off” button_one_border_radius__hover_enabled=”off” button_two_border_radius__hover_enabled=”off” button_letter_spacing__hover_enabled=”off” button_one_letter_spacing__hover_enabled=”off” button_two_letter_spacing__hover_enabled=”off” button_bg_color__hover_enabled=”off” button_one_bg_color__hover_enabled=”off” button_two_bg_color__hover_enabled=”off”][/et_pb_contact_field][et_pb_contact_field field_id=”Phone” field_title=”Phone*” allowed_symbols=”numbers” _builder_version=”4.4.4″][/et_pb_contact_field][et_pb_contact_field field_id=”Employees” field_title=”Number of employees*” allowed_symbols=”numbers” _builder_version=”4.4.4″][/et_pb_contact_field][/et_pb_contact_form][/et_pb_column][/et_pb_row][/et_pb_section]

    • Know How PEOs Help Reduce Workers’ Compensation Costs

      Know How PEOs Help Reduce Workers’ Compensation Costs

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      According to insurance companies, specific industries are at high risk and require broader workers’ compensation insurance coverage. The premium level is set high for them, which often becomes a burden in the long run. If you are one such company dealing with high premiums and invalid claims, you can take the help of a Professional Employer Organization (PEO). 

      But how exactly PEOs help reduce the workers’ compensation cost?

      Here’s a guide to educate you about all the ways PEOs manages to lower workers’ compensation insurance premium and their overall cost in a breeze. 

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      How PEOs Reduce Workers’ Compensation Costs?

      When you outsource the task to a PEO, it staffs your workplace with HR experts that incorporate sustainable cost–saving methods and reduce overall cost. Some of the ways are mentioned below:

      ●       Ensuring Worksite Safety

      The main factor influencing insurance premiums is whether the workspace is highly contagious to employees’ health. PEO helps lower the cost by looking at the organization’s safety programs, implementing better measures, and maintaining an injury-free environment. 

      ●       Managing Workers’ Compensation Claim 

      A company has to dedicate a large chunk of its operational time to looking after workers’ compensation claims. PEOs help by taking over this complex and time-consuming job. They save costs by preventing fraud and giving enough time to the company to improve its production. 

      ●       Implementing Return-To-Work Program

      Workers’ compensation costs reduce drastically when a company implements a return-to-work program. However, as it is a complex process, it can be overwhelming to introduce without expert help. 

      PEOs have the required experience and thus help customize the program to benefit the company. When injured employees join the work (even part-time or at reduced capacity), it lowers the workers’ compensation benefit and the overall burden on the company. 

      This is not it! PEOs also work on strategies to lower workers’ insurance premiums to reduce the cost incurred after an employee. Some are pointed out in the next section. 

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      Effective PEO Strategies to Lower Workers’ Insurance Premium

      Working with a trusted and experienced PEO gives the required peace of mind. They help manage risk by bringing precision, reducing accidents, and saving costs. The strategies PEOs use to lower workers’ insurance premiums are as follows:

      ●       Safety Training

      PEOs help keep your employees safe by providing them with top-class safety training. Moreover, it is not only for your recruits but also for the existing ones as revising safety measures at regular intervals is necessary. This, in turn, reduces the total number of mishaps taking place at the workplace, thus lowering the insurance premium amount. Moreover, this service is available at no extra expense. 

      ●       Maintain a Lower Experience Modified Rate

      Experience Modified Rate (EMR) is the basis on which insurance companies calculate your workers’ compensation insurance premium. If the rate is high, the insurance premium rate is also high. So, here a PEO helps reduce this rate by including you in its existing workers’ compensation plan. 

      ●       Correct Employees Classification 

      Each employee working in your organization is classified under a worker’s code. However, there are times when an employee is fit for multiple codes. Here, if you choose the wrong code, it can increase the premium amount of the employee. So, a PEO helps by ensuring an employee gets the correct code with the lowest compensation rate. 

      Getting professional assistance from a PEO is a one-stop solution to solve all your problems relating to burdened employee costs, HR management, payroll system, and others. So, if you require a managerial expert to help you out in these areas, reach out to us. Moreover, if you want to know more about what a PEO can do for you, explore our blog section. 

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      Reference Links:

      https://blog.zamphr.com/how-peos-handle-workers-comp-administration

      https://blog.bcnservices.com/how-peos-reduce-workers-compensation-costs

      https://dinsmoresteele.com/dinsmore-steele-blog/how-a-professional-employer-organization-can-help-you-with-workers-compensation

      https://blog.questco.net/how-peos-control-workers-comp-costs

      https://blog.questco.net/5-ways-to-reduce-workers-comp-costs

      [/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=”1″ admin_label=”Contact” _builder_version=”3.22″ background_color=”#012780″ use_background_color_gradient=”on” background_color_gradient_start=”#012780″ background_color_gradient_end=”rgba(1,39,128,0)” background_color_gradient_end_position=”60%” background_color_gradient_overlays_image=”on” background_image=”https://wordpress.fortunebizconsulting.com/wp-content/uploads/2020/03/insurance-01.png” background_size=”initial” custom_padding=”54px|0px|120px|0px|false|false”][et_pb_row module_id=”contact_form” _builder_version=”4.4.4″ background_color=”#ffffff” custom_margin=”80px|||” custom_padding=”80px|6%|80px|6%|true|true” animation_style=”zoom” animation_intensity_zoom=”-5%” animation_speed_curve=”ease-in” border_radii=”on|10px|10px|10px|10px” box_shadow_style=”preset1″ box_shadow_vertical=”40px” box_shadow_blur=”80px” box_shadow_color=”rgba(55,104,238,0.15)”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.4.4″ text_font=”Montserrat|300|||||||” text_font_size=”16px” text_line_height=”2em” header_font=”||||||||” header_2_font=”||||||||” header_2_font_size=”36px” header_2_line_height=”1.4em” text_orientation=”center” max_width=”700px” module_alignment=”center” custom_margin=”||60px|” header_2_font_size_tablet=”30px” header_2_font_size_phone=”24px” header_2_font_size_last_edited=”on|phone” locked=”off”]

      Contact Us

      Find out if a PEO is the right solution for your business.
      Fill out the form below and we will contact you to schedule a chat.

      [/et_pb_text][et_pb_contact_form use_spam_service=”on” recaptcha_list=”Default-0″ recaptcha_min_score=”0.7″ email=”stephanie@fortunebizconsulting.com” custom_message=”New Form Submission!||et_pb_line_break_holder||||et_pb_line_break_holder||First Name: %%FirstName%%||et_pb_line_break_holder||Last Name: %%LastName%%||et_pb_line_break_holder||Company Name: %%CompanyName%%||et_pb_line_break_holder||Company Email: %%CompanyEmail%%||et_pb_line_break_holder||Phone: %%Phone%%||et_pb_line_break_holder||Message: %%Message%%” module_id=”et_pb_contact_form_0″ _builder_version=”4.4.4″ form_field_background_color=”rgba(0,0,0,0)” form_field_font=”Lato||||||||” custom_button=”on” button_text_size=”14px” button_text_color=”#ffffff” button_bg_color=”#003bde” button_border_width=”10px” button_border_color=”rgba(0,0,0,0)” button_border_radius=”4px” button_letter_spacing=”1px” button_font=”Montserrat|||on|||||” border_radii=”on|6px|6px|6px|6px” border_width_all=”2px” border_color_all=”rgba(51,51,51,0.06)” form_background_color=”rgba(0,0,0,0)” button_bg_color_hover=”#0053ef” button_border_radius_hover=”4px” button_letter_spacing_hover=”1px”][et_pb_contact_field field_id=”FirstName” field_title=”First Name*” min_length=”2″ _builder_version=”4.4.4″][/et_pb_contact_field][et_pb_contact_field field_id=”LastName” field_title=”Last Name*” min_length=”2″ _builder_version=”4.4.4″ button_text_size__hover_enabled=”off” button_one_text_size__hover_enabled=”off” button_two_text_size__hover_enabled=”off” button_text_color__hover_enabled=”off” button_one_text_color__hover_enabled=”off” button_two_text_color__hover_enabled=”off” button_border_width__hover_enabled=”off” button_one_border_width__hover_enabled=”off” button_two_border_width__hover_enabled=”off” button_border_color__hover_enabled=”off” button_one_border_color__hover_enabled=”off” button_two_border_color__hover_enabled=”off” button_border_radius__hover_enabled=”off” button_one_border_radius__hover_enabled=”off” button_two_border_radius__hover_enabled=”off” button_letter_spacing__hover_enabled=”off” button_one_letter_spacing__hover_enabled=”off” button_two_letter_spacing__hover_enabled=”off” button_bg_color__hover_enabled=”off” button_one_bg_color__hover_enabled=”off” button_two_bg_color__hover_enabled=”off”][/et_pb_contact_field][et_pb_contact_field field_id=”CompanyName” field_title=”Company Name*” min_length=”2″ _builder_version=”4.4.4″][/et_pb_contact_field][et_pb_contact_field field_id=”CompanyEmail” field_title=”Company Email*” field_type=”email” _builder_version=”4.4.4″ button_text_size__hover_enabled=”off” button_one_text_size__hover_enabled=”off” button_two_text_size__hover_enabled=”off” button_text_color__hover_enabled=”off” button_one_text_color__hover_enabled=”off” button_two_text_color__hover_enabled=”off” button_border_width__hover_enabled=”off” button_one_border_width__hover_enabled=”off” button_two_border_width__hover_enabled=”off” button_border_color__hover_enabled=”off” button_one_border_color__hover_enabled=”off” button_two_border_color__hover_enabled=”off” button_border_radius__hover_enabled=”off” button_one_border_radius__hover_enabled=”off” button_two_border_radius__hover_enabled=”off” button_letter_spacing__hover_enabled=”off” button_one_letter_spacing__hover_enabled=”off” button_two_letter_spacing__hover_enabled=”off” button_bg_color__hover_enabled=”off” button_one_bg_color__hover_enabled=”off” button_two_bg_color__hover_enabled=”off”][/et_pb_contact_field][et_pb_contact_field field_id=”Phone” field_title=”Phone*” allowed_symbols=”numbers” _builder_version=”4.4.4″][/et_pb_contact_field][et_pb_contact_field field_id=”Employees” field_title=”Number of employees*” allowed_symbols=”numbers” _builder_version=”4.4.4″][/et_pb_contact_field][/et_pb_contact_form][/et_pb_column][/et_pb_row][/et_pb_section]

    • The Brighter Side of Group Health Insurance

      The Brighter Side of Group Health Insurance

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      One phrase you may hear often is that “Your employees are your greatest asset”. The reason for this is that it’s very much so true. Group health insurance is a very important factor in the maintenance and recruitment of employees for your small and medium-sized businesses. In addition to this, it helps boost productivity and employee satisfaction all around. 

      What does it mean as an employer?

      In most small and medium-sized businesses, work can be demanding and depend on people to deliver their services. The individuals in these roles have many names such as staff, workers, employees, associates, personnel, human resources, workforce, or even talent. Even though we are impressed to see the output that our employees provide the business on a daily basis we must be equally concerned as to what we cannot see. 

      The simple definition of health is the state of being free from illness. This definition goes towards what can be seen, but what also cannot be seen by the visible eye. Thoughts of the family are imperative when it comes to employment, for example, a sibling with pre-existing conditions may come to mind or even if a child comes along with an illness that requires advanced medical intervention. Even the most awesome employee can walk through the halls of the office and have this going on at home. It will always be best to help put these coverage and payment worries at ease with employer-provided health insurance. 

      The elements of employer or group health insurance are generally the same. Also called group plans, employer-provided health insurance is a health policy selected and purchased by the employer and offered to applicable employees and their dependents. Small and medium-sized businesses will typically share the cost of the premium with the employee. This ultimately discounts the coverage for the employee with the employer as opposed to having an individual plan paying walk-in prices.

      Employer or Group health insurance has its perks!

      There are positive benefits and incentives for having employer health insurance for the employee and the employer. An employee can enjoy the benefits of health insurance that can range from not having to locate the plan and their options and premium contributions from the employer that are not subject to federal taxes. This means employee contributions can be made pre-tax, which lowers the taxable income. Give or take what plan would be available for selection, there may be an opportunity to put money away in a Health Savings Account, which can be used for health-related expenses for those unexpected medical costs. Like the domino effect, this will spill over to employee morale and boost the spirits of those working. Workers who provide the best efforts at work feel secure where they work. Productivity levels could be a clear difference between high profits or heavy losses. In which we as a team always want to win!

      Can a PEO Help Your Business?

      Let’s connect the dots

      Many small business owners agree and offer health insurance benefits even when they aren’t required by the Affordable Care Act to provide coverage. Why do these small businesses cover their employees through group plans even though they’re not legally required to? Because it’s good for their teams and good for them. If you’re on the fence on the matter, here are the top five reasons to offer health insurance to employees:

      1. The ways in which health insurance can be offered are simple.

      2. Health benefits make employees feel secure and happy.

      3. It saves money on taxes 

      4. It can give access to more doctors and hospitals

      5. Providing health insurance helps boost employee productivity

      Here’s a FREEBIE! Small Business Care Tax Credit

      If you are a small or medium-sized employer, there is a tax credit that can potentially add some bucks to your account. The small business health care tax credit can certainly be an excellent incentive for offering health coverage for qualified employers. The Internal Revenue Service accommodates small businesses in various ways. Not only is the tax credit available for two consecutive taxable years; it may also help small businesses in keeping and attracting high-quality employees. Keep in mind that this isn’t an easy credit to qualify for, and sometimes it is not worth it.

      IRS: https://www.irs.gov/affordable-care-act/employers/small-business-health-care-tax-credit-and-the-shop-marketplace

      Health insurance helps in attracting and keeping high-quality employees.

      Hire, Train, and Retain – How to Attract and Keep Top Talent

      Let this be the STATUS-QUO

      A study from MetLife found that 60% of employers say offering health insurance has led to higher productivity levels. Additionally, according to the CDC, employees who prioritize preventive care—like regular checkups—get more accomplished at work. As a small and or medium-sized business owner, you want your employees to focus on being their best productive and successful selves at work. Worrying about health insurance drains their energy and time. As you know, health insurance can be a pain to set up. And if your employees are enrolled in individual plans, all of that burden of setting up and managing their plan shifts from you to them.

      METLIFE: https://www.metlife.com/employee-benefit-trends/

      How Has Covid-19 Affected Health Insurance Offered by Small Businesses in the U.S.?

      US National Library of Medicine National Institutes of Health confirmed that more than 40% of the private U.S. labor force is employed by small businesses, defined as those employing fewer than 500 workers. The Covid-19 pandemic led nearly half of small businesses to pause or cease operations within weeks of the March 13, 2020, national emergency declaration. While surveys have documented significant numbers of wage cuts and furloughed workers, the effect of the pandemic on employee benefits remains understudied and of utmost public importance. Given that more than half of the working-age population relies on employer-sponsored health insurance, the economic crisis is eager to spark an insurance coverage crisis.

      And there you have it. From building a healthier, happier team to actually saving money, there are many reasons to take the plunge and offer health insurance to your team. Offering health benefits signals that you care about your team, ultimately building a culture of trust.

      Contact us today for assistance with your group benefits needs

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