Regular turnovers are a real hassle for any company irrespective of their size. Workers Compensation claims is another under the carpet issue the CEOs of even big fortune 500 companies don’t want to talk about. Similarly, many other HR issues arise in every company that needs unbiased attention. In the construction business, the HR department is usually not an automatic acceptance; however, it is very important for the expansion of your work, workers, and company.
PEO stands for Professional Employer Organizations. These organizations partner up with other companies which provide extensive HR outsourcing to enable you to tackle the problems on the HR front. A PEO works through a co-employment arrangement which means that a PEO shares employee responsibility with you in the case of claims which are in high number in a construction company.
There are certain ways a PEO can help you achieve HR success which includes settling of workers claims and easy coverage for your construction workers. Some of the services provided by a PEO are:
• Choosing workers compensation plan coverage and details. PEO can help you negotiate the deal and cut upfront along with later payment costs with insurance companies.
• Designs a safety program and its audit in order to keep your work area accident fee.
• Resolve claims without wasting it anytime.
• Manage company relations with construction workers injured on site.
• Lowers the turnover rate by efficiently handling accident cases which enhance ownership of the workers for your construction company.
• Provide you the leverage required in order to work as a sub-contractor for a large contractor.
• Provides you proof of workers compensation payroll for your companies registration and license renewal process.
What does a standard PEO provide?
A PEO generally provides you a periodic control over your HR activities. It becomes a financial bridge between you and your employees by tackling the employees and insurance company in one go. Certain other HR benefits for hiring a PEO include:
• Handle the most critical HR service tasks like workers payroll, benefits, and compensations.
• Helping you with safety standards in your company
• The co-employment arrangement with health and health insurance companies to provide your construction worker the best routine and post-accident health care.
• Incorporating your insurance plan with your health care plan.
• Provides IT services for managing you HR workload.
• Training in safety and other aspects for your workers around the year which includes lectures and drills.
• PEO payroll services
• Workers compensation quotes when needed
Apart from the standard services that a PEO provide, there are other benefits of hiring a PEO that will not let you look at this hiring/consulting cost as a money-losing option, rather a money saving option. This not only provides your construction worker peace of mind and a reason to keep forking for your company but also the following advantages:
• Constant guidance from someone who shares the stakes with you in the case of profit and loss, both. A skilled PEO will help you manage all HR related issues along with guidance in making the right business decisions.
• Employment risk is very high in the construction business, and a good PEO understands this. They will help you share the responsibility for employment risk.
• They will guide you in achieving a work healthy environment by helping you in upgrading your current infrastructure based on safety, IT and worker moral management.
• Bring you in the big league by letting you provide services to your employees like those big fortune 500 companies do.