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  • The first day at a new job is always a little nerve-wracking. There is pressure to get to know your surroundings and meet your new colleagues. Then, there’s also the pressure of trying to figure out what’s happening next. Do I need to fill out lots of paperwork? Where are my parking passes? Will I have time to get an apartment before the weekend?

    When you start a new job, it’s also extremely important to learn your medical benefits. Your benefits are the set of terms and conditions surrounding your health insurance and other benefits. These often include employee costs, company contributions, and other factors related to your overall employee package.

    But what are classified as “job benefits?” Let’s take some time to explore exactly what job benefits are, looking at both monetary and non-monetary benefits.

    What Falls Under Job “Benefits?”

    You’ve just accepted a new job, congrats! One of the first things you plan to do is tour your new office and meet your co-workers, but before that can happen — you’ll need to read and understand a variety of documents. Understanding how benefits work will help you get off on the right foot.

    Although your new job is exciting, there are a handful of tasks that you need to take care of. One of the most important aspects beyond starting your task is understanding your new employee benefits and insurance plans. These benefits and plans can get quite complex, so you will have to do research in order to fully understand them.

    Most of us are probably aware of traditional benefits, such as health insurance, vision, dental, and more. But there are several options when it comes to these benefits, as well as ones that fall outside of the scope of your normal job perks.

    Types Of Job Benefits 

    Work benefits are one of the foundational elements of every organization. These benefits sustain and enrich employees by providing them with various types of services for their day-to-day life. A company that invests in its employees’ well-being is a company that will be more successful. In fact, employees are 70% more likely to remain loyal to their employer if they’re satisfied with their benefits. Let’s go over some of the common types:

    • Disability insurance: Disability insurance is a form of coverage that helps you in case you’re unable to work due to an illness or injury. It typically pays out about 60% of your income for up to two years, with some policies offering longer coverage periods and higher payouts.
    • Health insurance: Health insurance covers medical expenses for employees covered under a plan. As an employee at a company with its own health plan, you may pay part of your medical bills yourself (through co-pays) but will also receive reimbursements from your employer for other expenses related to receiving treatment for an illness or injury during work hours, such as prescriptions.
    • 401(k) retirement plans: Retirement plans are offered by some companies so that employees can save for their future after they retire from working there. Or, so that they have a way to support themselves when they quit working altogether because they no longer feel able to do it anymore due to age or health reasons.
    • Dental insurance: Dental insurance is a form of health insurance that covers most or all of the cost of dental care. It’s a type of indemnity coverage where the policyholder pays a fixed amount to receive medical treatment and reimbursement for covered medical expenses. Dental insurance may also include coverage for routine check-ups and cleanings, as well as basic orthodontics and dentures.
    • Vision care insurance: This pays for eye care services such as glasses and contacts. Similar to health insurance, there is usually an office co-pay, but most of the balance is covered through your insurance plan.
    • Life insurance: Life insurance is a contract between you and an insurance company that will pay out a specific amount of money if you die while covered by your policy. The money is paid out to your beneficiaries (usually family members) as a lump sum—it’s not an income stream they’ll receive over time like social security or disability benefits.
    • HSA and FSA plans: A Health Savings Account (HSA) allows you to pay for medical expenses with pre-tax money, so you can save some money on taxes. An FSA stands for Flexible Spending Account, and it lets you set aside money from your paycheck before taxes are taken out so that when the time comes for medical costs, you’ll have extra cash available without being taxed on it (just like an HSA).

    • Paid time off: Paid time off is one of the most common types of job benefits available for employees today. This benefit allows employees to take time off from work without having to worry about losing their position or salary. This benefit also helps employers because it means they don’t have to find replacements for people who are taking time off from work due to illness or vacation plans.

    • Paid family leave: When someone has an illness or injury in their immediate family, they can take time off of work without losing pay or risking their job. This can be used for illnesses such as cancer or mental health issues. if your child gets hurt or sick, you can also use the benefit for them!

    • Tuition reimbursement programs: Tuition reimbursement programs allow employers to pay for courses or classes taken by their employees while they are working at that company. This type of program can help workers advance their careers by learning new skills or taking classes in fields related directly to their current jobs (such as marketing classes if they work in marketing).

    Outside of these traditional benefits are more modern options. These are more consumer-oriented and go above and beyond. Some of these benefits include:

    • Wellness stipends: The wellness stipend is an additional benefit that your company can offer to employees. It’s typically a monthly amount of money that you receive from your employer in order to use on health-related expenses, such as gym memberships or fitness trackers.
    • Mental health days/programs: Mental health days are an important part of any work environment. They allow employees to take time off when they’re feeling overwhelmed or burned out, and they also help employers make sure that their employees are healthy and safe in the long term.
    • Home office stipends: This is a lump sum of money that will go towards furnishing and decorating your office space so that it’s comfortable, efficient, and functional.
    • Flexible work schedule: You can work from home and set your own hours, or you can work remotely on a project that does not require your physical presence. This flexibility allows you to do other things like spend time with family, take care of yourself, or pursue personal interests.
    • Summer Fridays: Some companies allow their employees to take Fridays off during the summer months when most people are just looking to get out of the office and enjoy the sun. It’s a great perk for those who want to spend time with friends or family, or just need to get away from the daily grind for a bit.
    • Stock in the company: Stock in the company is a great benefit to consider. It gives you a stake in the company’s success, and it ensures that you’re working hard to make sure it succeeds. If you want to be an entrepreneur and build your own business, then having stock in the company is a great way to get started.
    • Free lunches: This is an easy way to save money at work, but you don’t want to get stuck eating the same thing every day. Make sure your employer offers a variety of options so you can mix up your lunch routine while still saving money on food costs.

    How To Choose The Right Benefits

    Once you’ve got a good idea of what the company offers, start thinking about what kind of plan would work best for you and your family. For example, if you have a spouse or children who are covered under your health insurance policy, it might make sense for both of them to use your policy. Not all benefits require you to make a decision, such as free meal plans and stipends. However, deciding on how to best utilize those perks can help you save money. Some questions you could ask yourself when deciding what benefits to accept are:

    • What kind of coverage do I need? Do I need dental, vision, or life insurance? 
    • How much does it cost?
    • How much will I have to pay out of pocket for each type of benefit? What about prescriptions?
    • How much will my insurance cover?
    • What’s covered under each plan? You should know what’s covered and what isn’t before you sign up for a plan. 

    Ultimately, job benefits matter because they help you to find the right job and also because they can influence your level of satisfaction with the position once you start working there.

    GMS Offers Quality Benefits And Support

    As a business owner, it’s crucial to keep and attract quality employees so you can continue to grow your business. Offering a quality benefits package is one of the best ways to retain and hire top talent. With GMS, our benefits outsourcing services allow your company to offer competitive, cost-effective benefits while you focus on what you do best – running your business. Let’s chat!

  • If you’re a business owner, you know how hard it is to keep up with all aspects of your business. You have to manage your employees, ensure the product is coming in on schedule, and keep track of all the different projects you’re working on. In addition, then there’s the day-to-day work of running your business-managing your employees’ paychecks, paying bills and taxes, and keeping track of inventory. The list goes on and on!

    However, if you’re like most business owners, you don’t have time to take care of your retirement savings on your own. That’s where a 401(k) plan comes in—they make managing these savings easy! Many business owners choose to offer 401(k) plans to their employees without considering the intricacies. Many resources are available to help you understand 401(k) plans, but they aren’t always easy to understand. This guide is designed to help business owners better understand how 401(k) plans operate, including the main benefits offered by this type of retirement account.

    Why Should My Company Offer A 401(k) Plan?

    If you’re a business owner, you may be wondering what a 401(k) is and how it can benefit your company. A 401(k) is an employee benefit plan that allows employees to save money for retirement. When you contribute money to a 401(k), it’s usually taken out of your paycheck before taxes are calculated. This means that the amount of money actually deposited into your account is lower than the amount of money being withheld from your paycheck.

    While there are many different types of 401(k) plans, the most common type is called a defined contribution plan. In this type of plan, you choose how much money you want to contribute to the plan each year—and how much will be deducted from each paycheck. Then, when employees reach the retirement age of roughly 60, they can begin withdrawing funds from their accounts without incurring penalties or taxes on those withdrawals (unless they withdraw more than they’ve contributed).

    How Does A 401(k) Work?

    You set up an employee contribution plan with the financial institution that manages your company’s 401(k) plan, typically called an “investment manager.” The employee contribution plan will tell them how much money to take out of each paycheck and put in their account each month.

    The investment manager will then invest that money for you based on certain parameters set by you and/or your company, such as what kind of investments to make. They’ll then give you periodic reports about how much money has been contributed.

    Types Of 401(k)Plans

    Traditional: This option allows you to deduct contributions from your taxable income, which means that your contributions will lower your overall tax bill at the end of the year. Traditional funds can also be rolled over into an IRA when you retire or leave your job.

    Roth: With this option, you pay taxes now but can withdraw funds tax-free when you retire or leave your job. You cannot roll over Roth funds into an IRA once they’ve been deposited into the account; however, there are some exceptions based on age and other factors.

    Profit sharing plans: These are plans where the employer contributes a set percentage of its profits into each employee’s 401(k) account on an annual basis, usually four or five percent. The employee doesn’t get to choose how much money goes into their own account; instead, they take home whatever amount is left over after all contributions have been made by the employer and employee combined together.

    Defined contribution plan: This is the most common type of 401(k) plan. The employer decides how much money to contribute, and each employee can also choose to make voluntary contributions.

    Defined benefit plan: In this type of plan, the employer agrees to pay a specific amount of money to the employee at retirement based on their number of years of employment, salary level, and other factors. The amount that an employee receives from a defined benefit plan will depend on their age and salary at retirement.

    How Do I Choose The Right Plan?

    401(k) plans are an important option for business owners, but they can also be very confusing. There are many different types of 401(k) plans, and each one has its own set of rules and requirements. If you’re a business owner and you want to start offering a 401(k) plan for your employees, it’s important to choose the right one. Here are some tips on how to do that:

    1. Find out if your state requires a certain type of 401(k) plan. If it does, then you’ll need to make sure that the plan you choose matches those requirements. Otherwise, your employees won’t be able to participate in the plan if it doesn’t meet state standards. You can find out what types of plans are available in your state by contacting your local Department of Labor or Small Business Administration office.
    2. Make sure that any fees associated with managing your 401(k) plan are reasonable compared with other plans offered by other companies in your area (or even across state lines). If not, then look into other options until you find something more affordable for you and your employees!
    3. Make sure that the investment options available through this plan will allow you to grow your money without risking too much—but also without taking too much risk!

    How Do I Start?

    401(k) plans are an important part of ensuring your workers have a secure retirement. They’re also a great way to attract and retain talented employees. Below is a step-by-step guide to getting started:

    • Start by contacting a broker or financial advisor for help setting up the plan. They can help you determine what kind of plan is best for your company, including whether or not you should include matching contributions. You may even choose to work with a professional employer organization (PEO) to handle all of these logistics for you.
    • Next, determine how much money you want to contribute to the plan each year. You can decide on any amount, but it’s recommended that you contribute at least enough so that each employee receives at least three percent of their annual salary as a contribution from their employer.
    • The next step is to determine whether or not you want employees to be able to contribute on their own. If so, make sure they understand the limits that apply and how much they can contribute without penalty (in most cases, it’s $18,500).
    • Finally, decide how much money will be taken out of each paycheck towards paying into the plan each month, quarter, and/or year, depending on what works best for your company’s budgeting cycle.

    During this process, you need to decide whether or not to hire a professional employer organization (PEO). A PEO will take care of many of the administrative tasks involved in setting up and managing a 401(k) plan for you—including payroll processing, tax filing, and benefits administration—so that you can focus on running your company.

    Let’s Talk About Your 401(k) Options

    Introducing 401(k) plans to your employees can be one of the best decisions you make as a business owner. Not only is it a great benefit for your employees, but it’s also an excellent way to attract new talent and keep your existing team happy.

    But if you’re unsure how to get started, we’re here to help!

    GMS offers a variety of 401(k) plans that are customizable and easy to use. We’ve been helping small businesses similar to yours get their feet wet with this exciting new benefit for years, and we’d love to help you, too. Contact us today!

  • In late December 2022, government officials announced changes coming to the U.S. retirement system. A collection of retirement-related provisions known as “Secure 2.0” includes a 4,100-page, $1.7 trillion spending that will fund the government for the 2023 fiscal year. The Secure Act 2.0 would require employers with 401(k) or 403(b) plans to automatically enroll all new, eligible employees at a 3% contribution rate, increasing by 1% each year until it reaches 10%.

    The current law allows individuals at least 50 years old to put an extra $6,500 annually in their 401(k). Secure 2.0 would increase the limit to $10,000 starting in 2025 for individuals ages 60 to 63. In addition, the following would also change:

    • Catch-up amounts would be indexed for inflation 
    • All catch-up contributions will be subject to Roth treatment (not pre-tax) except for workers who earn $145,000 or less

    These provisions are intended to build on improvements to the retirement system that were implemented under the 2019 Secure Act. The following are provisions for the new law:

    • Requires automatic 401(k) enrollment
    • Increases the age when required minimum distribution (RMD) would need to start
    • Creates bigger “catch-up” contributions for older retirement savers
    • Broadens employer 401(k) match options
    • Improves worker access to emergency savings 
    • Increase part-time workers’ access to retirement accounts
    • Boosts the contribution amount of a qualified longevity annuity contract
    • Changes the required minimum distribution amount
    • Broadens usage for unused college savings money

    In addition to all these benefits, it also includes a variety of incentives for small businesses to set up retirement savings plans for their employees, encourages individuals to set aside long-term savings, and makes it easier for annuities to be an income option for retirees.

    What This Means For Small Business Owners

    These provisions are intended to help employees save more for their retirement. Whether you want to attract more employees or find ways to retain current employees, providing your employees with a retirement plan is critical. When you implement a retirement plan, you show your employees that they are critical to your company’s success. Partnering with a professional employer organization (PEO) like GMS will help you and your business with 401(k) plans by doing the following:

    • Cut costs and reduce stress
    • Save time
    • Offer benefits your employees need the most

    Contact GMS today to learn more. 

  • The COVID-19 pandemic changed how we work and forced many of us to reflect on our current lifestyles. Many realized the jobs they were working weren’t fulfilling or flexible. Countless people began quitting their jobs which became known as “The Great Resignation.” UKG conducted a survey which showed that nearly half of employees worldwide would never recommend their company or profession to their children or to people they care about.

    As a business owner, you may wonder if your workers feel this way about your business. Sometimes, you may never know the truth, making it challenging to eliminate the feeling your employees are experiencing. However, if you conduct performance reviews or simply enforce one-on-one meetings with your leaders and their team, it can create a more welcoming environment for your employees to open up in. Unfortunately, that might not be all you need to combat these feelings.

    Continue reading to learn how you can ensure your employees enjoy working for your company and recommend you to their network.

    Purposeful Work = Job Satisfaction

    The main question employees should be asking themselves is what’s more important, a good salary or meaningful work? 52% of employees worldwide tell their children that meaningful work is the most important aspect to consider. However, 50% say the same about salary. In addition, generations that are making their way into the workforce are said to care more about the following aspects of one’s career:

    • Time to care for and spend with family
    • A feeling of fulfillment
    • A successful career path

    Since the feeling of purposeful work is a main priority for the coming generations, it’s your job as a business owner to take the necessary steps to ensure your employees feel fulfilled and find purpose in their actions. The following will help your employees find more meaning in their work.

    Provide support and employee care benefits

    Offering benefits to your employees is essential as it shows them you’re invested in their overall health and future. In addition, a quality benefits package will ultimately help you attract and retain top talent. The following are benefits you should consider adding to your benefits package if you don’t already:

    • Health insurance
    • Paid time off (PTO)
    • Paid holidays
    • Flexible schedules
    • Education assistance
    • Paid sick time
    • Volunteer opportunities

    In addition to providing your employees with resources for good health, it also gives them more purpose in their daily tasks. If they know they have a certain number of vacation days, they are more productive at work, knowing they can take a day off. You must encourage your employees to take breaks and use their PTO, letting them know it’s more than okay to take time for themselves. Try implementing a “use it or lose it” policy, so your employees are encouraged to take time off; otherwise, they will lose their vacation time at the end of the calendar year.

    Build a positive work environment

    One of the most important factors in adding more purpose to your employee’s work is creating a positive work environment. Let’s face it, creating a healthy, positive working environment brings out the best in everyone. The following are factors to consider when creating a positive work environment:

    • Social connection
    • Open communication
    • A culture of empathy
    • Willingness to help

    A positive work environment makes employees feel that the culture reflects their values and beliefs, making them more efficient, effective, and fulfilled in their work. The following are additional benefits of a positive workplace that may convince you that a positive environment helps workers feel more purpose in their work:

    • Employees take more pride in the work they do for a company they believe in
    • There’s an inverse relationship between cost and employees’ levels of happiness
    • It builds a supportive culture that fosters growth for individuals and your organization

    Link personal drivers with a team or organizational goals

    When employees understand their job’s greater purpose, they are happier, more engaged, and more creative. As a business owner, when your employees see how their job fits the company’s goals, staff turnover decreases, and productivity rises. To learn about your team members’ goals and drivers, it’s essential that you and your leaders meet with each employee to determine their drivers. From there, they’ll need to assess how they can connect their motivations with the organization’s goals. For example, if one of your company’s goals is transparent actions and your employee’s driver is to build honest relationships, that would be more motivating since you both are working towards the same goals.

    Use feedback to boost positivity

    Positive feedback helps motivation, boosts confidence, and shows your employees you value them. Giving positive feedback should be a simple part of your manager’s daily tasks. Research shows that 68% of employees who receive accurate and consistent feedback feel fulfilled. When you provide them with feedback, it motivates them, and they better understand how and where improvements are needed and where their strengths lie. In addition, when you share success stories or feedback from clients for a job well done, it’s a powerful way to inspire your team and keep them connected with the people they’re helping.

    GMS Is Here To Help

    When you partner with GMS, you are given the tools and resources to help you determine your employee’s goals and drivers. We provide you with performance review services that help you with the following:

    • Demystify the approach to implementing performance management
    • Recommend the best way to set up an employee appraisal and review process
    • Assess and develop employee performance reviews
    • Move an organization to an online, electronic system for maximum efficiency when conducting a review process

    Our HR experts take on the administrative burdens you don’t have the time to focus on. Let us do the heavy lifting so you can focus on what you do best, growing your business. Contact us today.

  • The thought of working fewer hours and having more days off each week sounds great, doesn’t it? Many businesses have implemented shorter workweeks already, such as Basecamp, Bolt, and Panasonic, and have experienced significant benefits. Researchers found that businesses that adopted a four-day workweek found that 78% of their employees were happier, 70% were less stressed, and 62% took fewer days off.

    Background Of The Traditional Workweek

    Before we dive into what it means to implement a four-day workweek, let’s recall how the 40-hour workweek came to life. Almost 100 years ago, the U.S. revolutionized the way we worked by introducing a 40-hour “typical” workweek. The Industrial Revolution was a chaotic time forcing labor laws and practices to be tested.

    Henry Ford, an American industrialist who founded the Ford Motor Company, was the first to examine productivity and found that the more individuals worked, the less productive they were. This was the start of the standard 40-hour workweek. From there, the Fair Labor Standards Act was implemented in 1938, providing overtime pay for those who worked more than 40 hours within a week. This forced employers to create schedules so employees weren’t working overtime.

    Deep Dive Into A Four-Day Workweek

    Since COVID-19 and the Great Resignation, the typical 40-hour workweek has been a hot topic. It’s forced a new level of flexibility as remote work has become increasingly popular, encouraging employees to find more flexible careers. With work-life balance perks becoming more favored, businesses have begun testing and implementing the four-day workweek.

    A shorter work week usually means employees are in the office four days per week instead of five. While businesses have already implemented the four-day workweek, others have their employees complete four, 10-hour days. The truly shortened workweek reduces hours worked, usually 32 hours per week. You might be thinking that having your employees work fewer hours might not seem like the best idea. However, we’re here to tell you that it benefits you, your employees, and your business.

    The following are the benefits of implementing a shorter workweek:

    • Reduces company costs
    • Reduces employee costs
    • Greater work-life balance
    • Happier employees
    • Improved employee well-being
    • Increased productivity 
    • Attracts more job applicants

    A Guide To Implementing The Four-Day Workweek

    All of these benefits sound perfect, don’t they? You may wonder where to begin or test it to see if it’s a good fit for your business. We will start with the bad news. Moving to a four-day workweek will require serious task reprioritization and workload reorganization. Now the good news. Implementing a shorter workweek can be done through the following steps:

    • Set clear guidelines
    • Use automation and artificial intelligence
    • Free up your and your employees’ to-do lists
    • Reduce the time spent on meetings
    • Inform your clients about the switch
    • Keep track of your key performance indicators (KPIs)

    With businesses already implementing this shortened schedule for their workers, the results are overwhelmingly positive. Companies have reported a 40% increase in productivity.

    New Year, New Schedule!

    As the new year approaches, it’s a great time to analyze your business efforts and find ways to improve next year. While this may seem stressful and challenging to jump into, GMS is here to help you. Whether you want to revamp your benefits offerings to provide more paid time off (PTO) or begin implementing a shorter workweek, our experts are here every step of the way. Our goal is to help you and your employees succeed by simplifying your business. Contact us now.

  • Between making high-stakes decisions, budgeting, and strategizing, it’s safe to say business owners have their hands full. However, with a growing business comes more employees and a greater need for a reliable human resources team. This sounds like a great idea until business owners realize how expensive an in-house HR team can be, not to mention how much work goes into building one.

    But what if we told you about another alternative? HR outsourcing is the solution to all your HR problems, no additional staff is needed. If you’re not sure what all HR Outsourcing entails, we’re here to help!

    What Is HR Outsourcing?

    HR outsourcing is the practice of delegating some or all of an organization’s human resource functions to a third-party service provider. This can include functions such as payroll, benefits administration, recruiting, training and development, employee relations, and more.

    It allows companies to focus on their core competencies while outsourcing the complex aspects of HR management. Companies that outsource HR services can focus on improving their core business processes and procedures without having to worry about managing the day-to-day operations related to human resources. Sounds like a win-win!

    What Does HR Outsourcing Include?

    Outsourcing your HR department can save you money while also providing you with access to a wide range of resources. You’ll gain access to a dedicated team that can handle all your staffing needs without ever having to worry about hiring an employee or finding space for them in your office. The following are a variety of services that HR outsourcing includes:

    Benefits

    Putting together a benefits package takes work, but with HR outsourcing, all the benefits you want to provide for your employees are rolled into one package. If you use a professional employer organization (PEO) for this, they can give you access to high-quality, affordable benefits while also assisting you throughout the entire process. These benefits can include:

    • Access to top health care, dental, vision, life, short-term disability, long-term disability, and other types of insurance
    • Voluntary benefits and employee assistance programs
    • COBRA administration
    • 401(k) plan and administration
    • Section 125 plan administration
    • Paid time off (PTO) tracking

    Payroll

    Payroll is yet another time-consuming and challenging task for business owners. But with payroll management services, paying your employees is completely hands-off and handled by a professional. Small and mid-sized companies spend an average of $2,250 per employee per year to manage payroll, and if you’re doing the math right, that’s a significant amount of cash. Payroll management allows you to save money and gives you peace of mind knowing your finances are in good hands. These services often include:

    • Payroll processing
    • Payroll software
    • Payroll tax management
    • Employee self-service

    Human resources

    HR doesn’t just stop at payroll and benefits. There are many functions when it comes to human resources management such as recruiting and retaining talent, tracking vacation time and having a trained professional to answer employee questions. HR outsourcing companies allow you to spend more time growing your business and less time on human resource management.

    Risk management and workplace safety

    Lastly, risk management and workplace safety are among the most important services. U.S. employers are responsible for dealing with the consequences of workplace injuries. According to OSHA, millions of workers suffer serious job-related injuries or illnesses every year. In addition to the resulting downtime and lost productivity, these incidents result in workers’ compensation claims for employers, increasing their insurance rates. Taking proactive measures can help create a safer work environment for your employees, which HR outsourcing companies can assist with.

    How Outsourcing HR Services Can Benefit Your Business

    A few years ago, the term “HR outsourcing” was a foreign concept to most people. But today, it’s becoming more common for companies to outsource their human resources management responsibilities to third parties.

    It’s easy to see why there are many benefits to outsourcing your HR functions, including reduced costs and increased efficiency. The following are additional benefits HR outsourcing includes:

    • Flexibility: You have the ability to choose how many employees you want to hire and how much time you want them to work. In addition, you can adjust your needs, which might mean adding or removing employees from your team depending on the season or other factors.
    • Cost savings: By outsourcing your HR functions, you can save money by not having to hire an entire department of people just for HR tasks. This can help reduce costs while still providing the same level of service as if you were hiring an entire team internally.
    • Efficiency: Outsourcing allows companies with limited resources or expertise in specific areas, such as compliance or payroll management, to receive additional help. This way, they have support from outside experts who specialize in those areas without having to hire an entire team internally (e.g., only payroll experts).

    Difference Between A Professional Employer Organization (PEO) And HR Outsourcing

    As we’ve covered, HR outsourcing is the act of outsourcing the functions of human resources to a third party. A PEO, or professional employer organization, is an organization that provides these services. They are not a staffing agency, and they don’t just provide payroll services—they provide all the administrative support that comes with managing employees, including benefits administration, employee screening, recruitment, payroll processing, and tax reporting.

    In addition to providing administrative support for your business operations, PEOs also offer several other benefits:

    • Reduced risk: By outsourcing HR functions, you’re able to reduce your legal liability and exposure to regulatory fines by hiring professionals who specialize in these areas.
    • Improved efficiency: PEOs can process paperwork faster than you could ever hope to do on your own — saving you time and money!
    • Hassle-free administration: Many small businesses find it difficult to keep up with the ever-changing regulations required by law. Outsourcing those responsibilities allows you to focus on what really matters—running your business.

    Common Myths About HR Outsourcing

    HR outsourcing is surrounded by many myths however, we’re here to set the record straight. The following are the most common myths we’ve heard, and why they aren’t true:

    Myth: You’ll have to deal with a bunch of different people from one company who all have different ideas about how things should be done.

    Reality: A PEO is made up of experts in their field, so you won’t have to worry about having multiple people working on your account. You have one HR expert as your point of contact. There’s no more calling a 1-800 number and having to wait on hold.

    Myth: It’s expensive.

    Reality: Most PEOs charge on a per-employee basis, and you are only paying for what your staffing levels required. This saves you money in the long term.

    Myth: You’ll be losing control over your employees.

    Reality: If you’re outsourcing your HR functions, you’ll be able to maintain your own compliance standards alongside their services, including employee benefits programs and payroll management. You’ll also have access to all their resources, so if there are any issues with your employees’ performance or attendance policies, you can contact them directly instead of having to wait for an answer from someone.

    Myth: A PEO is the same as a staffing agency.

    Reality: PEOs don’t hire people on behalf of clients. Instead, they provide them with all the tools they need to manage their own HR needs themselves-from recruiting to hiring to payroll administration. They do this by working directly with clients’ existing employees to make sure everyone has what they need to do their jobs well and efficiently—and that no one falls through the cracks.

    Who Should Use HR Outsourcing? 

    You may have read this far and are still wondering whether HR outsourcing is a good move for you. But believe us when we say HR outsourcing is truly for every business, big or small. HR plays a critical role in protecting your business from legal issues and creating the right policies, practices, and strategies. Without a solid HR team, your business will likely face these issues:

    • Compliance risks
    • Bad hiring practices
    • Low morale and toxic work environment (sexual harassment, bullying, discrimination, and more)
    • High turnover rates
    • Poor performance

    Any of these issues could seriously derail your business. What if you’re not sure if it’s right for you? Here are questions to ask yourself when deciding:

    • Do I need to add or change my company’s benefits package?
    • Are there any HR processes that are taking up too much time?
    • Do I have specific knowledge and expertise in an area that isn’t related to my core business? (For example, if you’re an insurance company and want to start offering 401(k) plans but don’t have the knowledge or experience in this area.)
    • Have my employees brought various HR issues to my attention? 
    • Do I feel like my time would be better suited somewhere else?
    • Could I provide more benefits or HR services to my employees?

    Where To Get HR Outsourcing

    All of this information about HR outsourcing may have given you a better understanding of what is provided, but you may not know whom to choose. With GMS, you can be sure that your HR outsourcing is handled by trained professionals who understand the industry and have the experience to get the job done. We’ve got a team of experts who can help you find the right people for your business and manage them so that they’re at their best. We also offer benefits administration, payroll services, and more. If you’re interested in learning more about what we can do for your business and how we can help you reach your goals, contact us today!

  • Since the COVID-19 pandemic began in 2020, employers have started implementing workplace safety protocols to ensure the safety and health of their employees. While that will always be an essential aspect of one’s business, there are additional ways to promote health at work. Health promotion within the workplace ultimately creates conditions that support and teach the best possible health for your employees. This gives employees a sense of ownership, and they learn to work together to form a coordinated action plan to improve their well-being.

    As 2023 approaches, what better way to kickstart the new year than by promoting a culture of health within your organization? Continue reading to understand the importance of health in the workplace and how you can begin implementing it.

    Building A Culture Of Health 

    Healthy employees make for a more productive workplace and a happier workforce. These results in fewer sick days, quicker recovery, and your employees are at less risk for long-term illnesses. In addition, did you know that healthy employees incur 41% fewer costs? Knowing that, businesses have begun prioritizing encouraging and supporting their employees in adopting healthy behaviors. Business owners are providing their employees with the following:

    • Preventive support
    • Convenient treatment options
    • Tools and resources employees need in all areas of their health

    To establish the right foundation for what’s suitable for your business and employees, you must have the right programs in place and ensure your health strategy fits into your workplace culture. A great way to begin this process is by partnering with an expert in this area. A professional employer organization (PEO) like GMS can apply the following experience to your blueprint:

    • Incentive strategies
    • Benefits design
    • Communication strategies

    From there, create a culture of health by following these steps:

    • Dedicate senior leadership and manager support
    • Identify a worksite health and wellness coordinator (if applicable)
    • Create a wellness plan
    • Dedicate resources

    Why Is This Important?

    While business owners care about their employees and want them to be healthy, a culture of health ultimately provides significant financial benefits to your business. Employees who aren’t healthy cost employers $530 billion in productivity annually. Employee well-being provides your business with the following outcomes:

    • Employee engagement
    • Customer engagement
    • Turnover
    • Workplace safety

    Health promotion in the workplace shows employees that the organization recognizes that both the employer and the employee share some extent for the employee’s health. The company’s bottom line remains intact when your employees are taken care of.

    Creating A Healthy Culture With GMS

    We understand this might be an information overload for you. However, GMS experts are here to help you wherever you need them. Our benefits experts work with you to implement a wellness program within your workplace. If that seems too much to jump into, we can also assist you with creating a benefits package with basic wellness benefits for your employees to get the resources they need. Allow GMS to help you create a healthy workforce to kickstart 2023. Contact us today. 

  • As business owners continue to face a tight labor market, companies have been searching for ways to stand out from their competition. While many businesses have resorted to increasing salaries and implementing hybrid work schedules, others have increased their benefit options. Researchers say that 51% of employees say that benefits play a significant role in talent retention. As 2023 approaches, finding ways to stand out from your competitors will be essential.

    Employer-Assisted Housing Programs

    Recently, businesses have begun helping their workers purchase homes by offering employer-assisted housing programs (EAHPs). EAH programs provide a channel through which employers can help their employees with the cost of owning or renting a home, typically in neighborhoods close to the workplace.

    The following are ways in which assistance could be provided:

    • Down payment grants
    • Loans
    • Homeownership counseling and education
    • Rental subsidies
    • Direct investment in the construction of rental housing

    Why This Is Becoming Popular

    The COVID-19 pandemic has affected everyone in various ways. Alongside that, inflation has increased prices for necessities for individuals to survive. 49% of Americans say that the availability of affordable housing in their community is a huge issue. In addition, mortgage rates throughout the U.S. have climbed over seven percent for the first time in 20 years.

    EAH programs help build employee loyalty and increase productivity through the following:

    • Improved morale
    • Enhanced employee work/life balance
    • Decreased absenteeism

    The unavailability of affordable housing makes it challenging for employers to attract quality employees. Employers can set themselves apart from their competitors when they offer housing benefits, ultimately improving their competitive position. A study showed that those who own homes often work harder and longer for their employer.

    Outsource Your Benefits Administration

    If retaining and attracting top talent is essential for you, you’ve come to the right place. Partnering with GMS provides benefits outsourcing services that allow your company to offer competitive, cost-effective benefits while you focus on growing your business. If providing your employees with EAH programs is too big of a step for you right now, we will work diligently with you to get you the benefits your employees want and need. Contact us today to learn more.

  • It’s without question that individuals across the world are burned out and exhausted. Clearly, burnout in the workplace exists, and we are a long way from ideal working conditions brought on by the great resignation. Burnout can take different forms, affecting individuals physically, emotionally, and behaviorally.

    The following are common causes of burnout: 

    • Lack of adequate social support
    • Taking on more than one can handle at work, school, or interpersonally
    • Poor self-care
    • Lack of sleep

    Burnout is a feeling of being exhausted or the point when you feel trapped in a job without growth opportunities. It’s a recognized medical condition that affects 77% of employees. On top of that, burnt-out employees are over 50% more likely to seek a new job. As a business owner, how will you ensure your employees feel less burnout than normal?

    Sabbaticals Could Be The Solution

    While many businesses provide their employees with paid time off, sick days, and personal days, there are still businesses that don’t. As a business owner, consider starting there if you don’t already provide your employees with these benefits. However, if you already do, great! If you notice your employees are still experiencing burnout, there is another action you can take. Implementing a workable sabbatical program might be the next step for you. Sabbatical leave is an extended time away from work granted to an employee for varying purposes, including:

    • Personal reasons
    • Professional and academic growth
    • Learning and development of new skills
    • Rest and recuperation while maintaining their status as an existing employee

    However, the Society for Human Resource Management (SHRM) conducted a survey that showed only 11% of employers offered an unpaid sabbatical program, and just 5% offered sabbaticals with pay. Talk about a benefit that will differentiate you from your competitors. Employers seeking to recruit and retain top talent may overlook a benefit many workers are likely to appreciate – a sabbatical program.

    What Will You Do? 

    It’s no secret that many of your employees are feeling burnt out and potentially looking for better opportunities. However, GMS has just the solution for you. Did you know that flexibility can decrease burnout by 50%? That means that if you provide your employees with the benefits they need, whether that’s PTO, a hybrid work schedule, or perhaps a sabbatical, you could eliminate half of your employee’s burnout. GMS’ benefits outsourcing services allow your company to offer competitive, cost-effective benefits while you focus on what you do best – growing your business. Maybe right now isn’t a good time to provide your employees with a sabbatical program. If that’s the case, let GMS review your current benefits program and determine how we can improve them to decrease the burnout your employees are feeling. Contact us today to learn more.

  • With today’s labor market, it’s vital that you provide the resources and benefits that will attract and retain the top talent you need to grow your business. One of the best ways is by providing your employees with the education and skills they need to succeed in their careers and bridge the widening economic divide. A study showed that 76% of employees said they are more likely to stay with their employer because of its tuition reimbursement benefits. Amidst the COVID-19 pandemic, many companies began implementing debt-free education benefits programs.

    Employer Education Funding

    While there are several types of employer education program funding, the most common one today is capped tuition reimbursement. Tuition reimbursement is a contractual agreement between an employer and an employee in which a company agrees to help pay for an employee to further their education. Businesses provide these programs to their employees to encourage employee loyalty and to invest in their future at the company. It ultimately allows business owners to develop the talent they already have on their team.

    How Does It Work?

    While companies have their own tuition reimbursement system, there are common features among the different systems. Most small business owners who choose to provide their employees with this benefit offer to pay for classes that are related to an employee’s current job role. Most businesses will only reimburse the tuition upon completion of the course. The employee needs to pay their tuition out of pocket, and then the company will reimburse them based on the repayment structure.

    Why Start Now?

    Whether or not you have a program like this in place, reshaping education funding in an equitable way to help you attract, develop, and retain top talent. Not quite sure where to start? Luckily, GMS can help you. GMS works with employers to help them decide which benefits make the most sense for their business operations, employees, and bottom line. Our benefits account managers assure you and your biggest asset, your employees, will be happy. Providing them with the resources needed to receive additional education so they can excel in their current roles is vital for the growth of your business. Contact us today to learn more.