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Is a PEO Right For You? Risk Management Edition

by Tim AustinMay 19, 2015 8:00 AM

Whether you’re dealing with workers’ compensation or unemployment claims, risk management can be a struggle for any business. You only have a certain amount of hours and budget to handle everything that needs to get done to run a successful organization, so having to deal with potential risks can put a damper on your profitability.

Fortunately, a Professional Employer Organization (PEO) like Group Management Services (GMS) can help. Our trained professionals know human resource functions like risk management inside and out, allowing you to breathe easy and save both time and money in the process.

Here’s how.

Without effective prevention strategies, workers’ compensation and unemployment claims management can be a major burden for a business.

Instituting Loss Prevention Strategies

As we’ve mentioned in past blog posts, workers’ compensation bills have cost business owners upwards of $60 billion in a year. That’s a lot. Professional Employer Organizations can help you prevent claims by helping you implement:

  • Safety programs
  • Safety manuals
  • Safety guidelines
  • Workplace inspections
  • Drug testing
  • Workers’ Compensation insurance
  • Workers’ Compensation claims investigation, representation, and management

Cost Containment

While you can take steps to prevent accidents and terminations, they still happen. In the event a claim is filed, a PEO can handle the following to help you reduce costs associated with - claims:

  • Reduce liability for unemployment taxes
  • Help you write detailed handbooks and job descriptions
  • Consult with you on the employee discipline and termination process
  • Ensure you stay compliant with unemployment laws and regulations
  • Provide representation at claims hearings

Save Time & Money

Workers’ compensation and unemployment claims can’t always be predicted, but you can still reduce the amount of time and money that you have to spend on protecting yourself by hiring a PEO to manage your HR functions. 

Ready to learn more? Call 888-823-2084 to contact GMS today.

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