Wide-reaching changes to employment law and regulations that have left many businesses drowning in red tape. While many of the changes have been necessary to meet the needs of society, others place undue burdens on businesses of all sizes. If you are experiencing difficulties in managing the myriad of employment laws and regulations, Progressive Employer Management Company (PEMCO) can assist you.
As a leader in the PEO industry, PEMCO works with our partners to assist with compliance with these laws and regulations. The most common areas of concern for our clients include:
Affordable Care Act: The adoption of the Affordable Care Act (ACA) has forced employers to comply with regulations or face financial penalties. Many businesses lack human resource and employee benefit department depth to manage compliance, which is why many of them turn to our professionals for assistance.
Overtime Pay: While the Fair Labor Standards Act regulation that would have granted overtime pay to certain employees was blocked in 2016, many businesses are feeling the after-effects of it. With the law blocked one week prior to implementation, many businesses already had raised pay rates for workers. Employers have been hesitant to rescind these pay raises, which led to higher rates of pay than originally expected.
Minimum Wage: The Federal Minimum Wage hasn’t been raised since 2009; however, at the start of 2017, 19 states raised their minimum wage rates for businesses. While there has been a push to raise the minimum wage, companies that hire employees at minimum wage are feeling the burden and are adjusting pricing to meet these regulations.
Compliance: Employee regulation guidelines also continue to expand. Employers are required to pay Social Security taxes at the same rate paid by their employees. In some states, businesses must also carry workers’ compensation insurance coverage and unemployment insurance. The Family and Medical Leave Act also mandates that employees have up to 12 weeks of job-protected, unpaid leave for reasons that include birth and care of a child, care of an immediate family member with a serious health condition or care of an employee’s own health condition.
New laws and regulations for employers will continue to be put in place, placing additional burdens on employers. If you are interested in learning how we can help you manage your employment law and regulation requirements, contact the PEO professionals at Progressive Employer Management Company for assistance.
Designing the right benefits package for your employees can be difficult. You want benefits that will retain existing employees and find the best new hires without causing financial difficulties. If you need assistance in choosing the right benefits package, let the employee benefits professionals at Progressive Employer Management Company help you choose the right plan to fit your needs.
According to a recent survey, the most popular benefits for employees include:
What do employees want? Ask them.
Get input from your employees regarding what benefits are most important to them. Engaging your team will determine what benefits mean the most to them, while allowing you to eliminate some benefit options that aren’t important to their needs.
Offering ala carte options for your benefits will pay dividends, but limit the available choices for your employees. A PEO partner can assist you in determining which benefits are feasible based on your financial situation. These options offer opportunities for employee engagement and will help your business stay financially sound, help you meet your objectives.
Think big, start small
When you are considering your business objectives, starting with small perks and benefits can help you make big plans for your employees. Offering free sodas, onsite dry cleaning pickup and discounted services will create appreciation from your team at a low cost.
Before offering a benefits program, learn which ones are the most important for your emplo
yees. From there, you can work with the employee benefits professionals at Progressive Employer Management Company to determine the best way to implement these benefits while meeting your financial and business objectives for growth.
To facilitate growth many small- to medium-sized businesses have to compete with larger companies to hire the best talent. Progressive Employer Management Company can give you the extra muscle needed to offer benefits that will retain and recruit the best.
PEMCO works with vendor partners to offer outstanding benefits programs at lower costs. Our team of benefit professionals leverage our relationships to your advantage. We have assembled a variety of benefits for you and your employees to choose from.
Health Insurance: Finding health insurance for your business at a reasonable rate can be difficult because pricing is often based on the number of employees covered. Under our coverage, you will be able to access more robust plan designs with more competitive premiums by leveraging PEMCOs buying power.
Outsourcing HR: The need for an entire human resources department can be removed when you work with us. As leaders in HR services, we can manage all your HR requirements with our dedicated team of professionals.
Reducing business risk: Businesses struggle to keep their payroll administration, benefits, workers’ compensation and human resources management up to date and compliant. Our teams can manage all facets of these business areas, allowing you to offer higher salaries to your employees by making your operations leaner.
Access to better benefits: Similar to how we manage health insurance requirements, we can also assist by offering higher quality benefits than small businesses can access on their own. Our size allows you to offer more extensive benefits, including retirement, EAP and other highly desired options, to your employees. These benefits will be managed by our team of professionals, who will help you offer benefits packages that are worthwhile to your employees.
Working with PEMCO will help you offer more competitive benefits and options to your existing employees while helping you find better candidates. If you are interested in learning about the benefits that we can offer your business, contact the PEO professionals at Progressive Employer Management Company today to learn more about the advantages of working with us.