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How PEOs Improve Cashflow: Part 1

by Tim AustinFebruary 10, 2015 8:00 AM

Cashflow is key for any business. That’s an easy concept. What’s more difficult to understand is how to effectively manage all the things that pose a risk to that precious cashflow.

As a business owner, one of your biggest risks is workers’ compensation. According to the Liberty Mutual Workplace Safety Index, workers’ compensation cost business owners nearly $60 billion in 2012. That’s a lot of money!

The good news is that you don’t have to accept rising costs – and a strained cashflow - as a fact of business life.

Loss prevention can help limit workers’ compensation claims and lower your rates.

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Risk Management

Debunking 4 Common PEO Myths

by Tim AustinJanuary 20, 2015 7:00 AM

Choosing to partner with a professional employer organization (PEO) is a great decision for your business. If you’re like most business owners who are considering a PEO, you have done a lot of research and have tons of questions and concerns.

Below, we’ve debunked four of the most common PEO myths to make your decision a little easier.

GMS debunks four of the most-common PEO myths.

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Grab Bag

Proud to Be Part of the FAST 50 Program!

by Tim AustinDecember 4, 2014 9:49 AM

We're proud to announce that GMS was listed #29 in the inaugural Crain's Cleveland Business FAST 50 program!

GMS was listed #29 on Crain's Cleveland Business inaugural FAST 50 list.

FAST 50 recognizes Northeast Ohio businesses that:

  • have achieved the most substantial margins of revenue growth between 2009 and 2013. 
  • are at least 5 years old.
  • have accrued at least $5 million in revenue at the end of 2013.

Read more about the FAST 50 program and see photos from the event on the Crain's Cleveland Business website.

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GMS News

Time To Get Educated!

by Tim AustinJuly 16, 2014 8:49 AM

Still not sure what exactly a PEO (professional employer organization) is?  Need help selecting a PEO?  Ever think about outsourcing payroll?

You're not alone, but you’ve come to the right place for answers! Today, we're proud to announce the launch of our new Education Center.

 

In our Education Center, you'll learn more about what PEO is. For example:

  • A PEO offers a cost-effective and unified method for handling back-office services for small and medium sized businesses.
  • PEOs provide services to help reduce business risk, manage employee benefits, process payroll, find quality employees, and more.  
  • PEOs exist in every state and provide services to more than 2.5 million people.
  • The PEO industry is valued at $80 billion per year (and growing).

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Benefits | GMS News | Human Resources | Payroll | Risk Management

We Got a New Website!

by Tim AustinJune 2, 2014 5:17 PM

If you've been to our site over the past few days, you probably noticed something...really different.

Different as in: "Hey, look! We got ourselves a new website!"

Why did we do it? It might look nice, but it's not just for aesthetics. We did it because the only thing that's constant is change, and our old website wasn't serving our existing or potential customers as well as it used to.

 

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GMS News

How to Protect Your Business From Unemployment Claims

by Tim AustinMarch 19, 2014 8:20 AM

True or false: You can’t do anything to manage your company’s unemployment tax rates?

If you answered true, you answered incorrectly. But take heart because:

  1. Many other business owners would have also answered “true”
  2. There is actually a lot you can do to manage unemployment tax rates
Don’t hope for the best when it comes to unemployment claims. Do something to protect your business by working with a PEO today.

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Risk Management

4 Affordable, Practical Benefits that Will Help Attract the Best Employees

by Tim AustinMarch 10, 2014 10:00 AM

What would you say if a prospective employer offered you perks like free catered meals, free fitness classes, tuition reimbursement, unlimited vacation days, and-- for the expectant parents out there-- four months of paid parental leave? 

You might be tempted to rip the contract out of his or her hand and sign it on the spot—right?

Well, we didn’t make those up. Practical benefits like these are real, and some are being implemented at companies that constantly rank at the top of employee satisfaction lists.

 

Pet friendly workplaces have lower stress, encouage longer hours, and build office camraderie. Photo of dog in office. “Office dog” by seanhagen is licensed under CC BY 2.0

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Benefits

Protect Yourself From Workers’ Compensation Claims

by Tim AustinMarch 6, 2014 8:25 AM

There are a lot of factors that go into determining what your business’s workers’ compensation rates will be. But the simple truth is this: the more claims your employees file, the higher your rate will be.

Fortunately, there are two strategies you can follow that will limit the amount of time and money you spend dealing with workers’ compensation claims.

 Protect yourself from worker’s compensation issues with Group Management Services.

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Risk Management

What Happens With a Major Claim on Self-insurance Plans

by Tim AustinMarch 4, 2014 1:25 PM

Imagine you’re the CEO of a company with 49 employees. You’re currently covered through a fully insured health plan, but are considering switching to a self-insured group plan due to the potential premium increases resulting from the Affordable Care Act.  

All of the companies you know with self-funded plans are larger companies (250+employees), so you aren’t sure if this is the right solution for you. You’re also concerned that since you would pay self-insurance claims directly, your company could be liable for a major claim if an employee has a serious health issue. 

What do you think - what would you do in this situation? Before you make a decision, consider the following key points. 

What happens when you have a major claim on a self-insured policy?

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Benefits | Third Party Administration

GMS Receives 2013 Weatherhead 100 Award

by Tim AustinFebruary 21, 2014 7:37 AM

Group Management Services, Inc. was on honored on February 19th, 2014 at the Richfield Village Council meeting. They congratulated President and CEO, Mike Kahoe as GMS was awarded a 2013 Weatherhead 100 Award through the Case Western Reserve Weatherhead School of Management.

 

Mike Kahoe receives the 2013 Weatherhead 100 award.

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