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Mitigating Risk with a PEO

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Mitigating Risk with a PEO

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  1. Mitigating Risk with a PEO

  2. Employment Law Compliance Most businesses today do not have the staff or the in-depth subject matter expertise that is required to adequately understand and manage employment and tax laws. This gap can leave companies vulnerable and liable. Mismanagement of employment laws can have costly consequences. Some examples of these federal laws that apply to any employer with employees are: FLSA (overtime, child labor, deductions from pay) FMLA (eligibility determination, confidential record-keeping, job protection and continuation of benefits) ADA (job descriptions that identify essential functions of the job, avoid unlawful Interview questions, interactive process) A jury awarded 4 former managers of a convenience store chain more than $18 million, accusing the chain of discrimination on national origin.

  3. A PEO helps manage HR risk by helping companies: Create an employee handbook that includes anti-discrimination and harassment policies Understand wage and hour laws Pay companies in accordance with the law Pay employees on time When working with a PEO, business owners have the option to retain a type of liability insurance called Employment Practices Liability Insurance, which further guards them against significant costs associated with HR risks. Some common HR risks include: Wrongful Termination Discrimination Sexual Harassment Retaliation Failure to promote Negligent Retention Deprivation of a career opportunity

  4. In 2017 there were more than 84,000 charges filed with the Equal Employment Opportunity Commission (EEOC). The majority of the charges stemmed from discrimination accusations based on race, sex and disability. More than $42 million was awarded to plaintiffs who either settled or won their cases…which doesn’t even include legal costs both parties incurred. A PEO is an essential part of a growing business. A PEO will help business owners and their teams focus on what matters most while making them more enticing to top talent in the workplace. On top of all the security a PEO can bring, their service is free to use; saving you time and money. Contact us today to schedule a consultation.

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