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  • Human resources is a very important part of any business, but it can take a lot of time and money to properly manage. Even then, there are cashflow hurdles that you may come across simply because you aren’t an HR professional with all of the proper tools of the trade.

    A Professional Employment Organization (PEO) like GMS can get over those hurdles because HR is what we do. We’ve already discussed how a PEO can improve your cashflow through loss prevention, cost containment, payroll, and unemployment claims management strategies, but there’s another major factor as to how we can save you money: economy of scale.

    PEOs make your business stronger through economies of scale.

    Bigger Scale, Bigger Value 

    What the heck do we mean by economy of scale? Economy of scale is the term for the cost advantages that enterprises obtain due to size, output, or scale of operation. In short, GMS can get you lower premiums and tax  burdens because we represent roughly 20,000 workers over 850 different companies.

    That means you can get competitive benefits that attract talented applicants and retain valuable employees, all at a reduced rate. Even if you own a small business, our expertise can help your bottom line because of economy of scale.

    PEOs Are an Extension of Your Business

    You don’t need to own a big business to get big-business treatment. In fact, think of a PEO as an extension of your company – one that helps your bottom line and makes your life simpler, and you never have to fear about losing control of your business. 

    GMS can save you time and money, so get a quote from us today if you think that a PEO is the right move for you.

  • The unemployment process isn’t an easy one, both for the former employee and the employer. While many small- and medium-sized companies view unemployment as an unmanageable major expense, there are ways that you can save money so that the process isn’t as much of a threat to your company’s cashflow.

    Professional Employment Organizations (PEO) can protect your business from unemployment claims, while helping your business’ bottom line, allowing you to focus on the future without being held back by the past.

    Work with a PEO to help your bottom line when it comes to the unemployment claims management.

    How Much Can Unemployment Really Cost Me?

    That can depend on a couple of things. After taking in factors like your state, company size, and unemployment claim history, unemployment taxes can cost your business anywhere from hundreds of dollars to tens of thousands of dollars per year.

    Protecting Your Business

    It’s hard to predict what the future may bring, so you need to prepare for potential issues. You can protect yourself in unemployment cases by providing detailed employee handbooks for new employees and issuing written warnings that require sign-off from offenders. 

    PEOs, like GMS, can also help businesses reduce unemployment tax risks in a number of ways. Specifically, PEOs:

    • Reduce liability for unemployment taxes

    • Help you write 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

    Saving Money While Maintaining Control

    By working with a PEO, like GMS, you can increase cashflow and eliminate liability. And just like with our loss prevention, cost containment, and payroll strategies, you retain full control over your employees while freeing up time for you to focus on growing your business.

    Contact us today to find out how much a PEO can help your business improve its bottom line through unemployment claims management.

  • It’s expensive to pay employees, and I’m not just talking about salaries and benefits. 

    The payroll process is pricier than many business owners realize. It costs an average of $2,000 per employee per year for a small or mid-sized company to handle payroll. In addition, up to 40 percent of businesses in the United States are given an average of $845 in IRS penalties each year.

    These costs add up and can really hurt a company’s cashflow. We’ve already discussed how loss prevention and cost containment can help your business, but a professional employer organization (PEO) can also save you money and time by handling your payroll.

    Payroll costs you more than just your employees wages.

    Preventing Penalties

    You probably didn’t go to school to be an HR professional, so you shouldn’t be expected to understand all of the payroll penalty risks you face each day. But the people who work for PEOs are experienced HR professionals who can make your business simpler, safer, and stronger.

    For example, many PEOs assign a team of HR experts to your account. These professionals will help manage tax records and the storage of necessary payroll documentation, reducing your responsibility and liability in the process. 

    Saving Time

    Many PEOs like Group Management Services also provide you and your employees with anytime, anywhere access to tax and payroll information. Plus, you can realize efficiencies in tracking paid time off and in direct-depositing paychecks that you never thought possible when you did it on your own.

    Yes, you’re still involved in the payroll process; PEOs just make it much faster and easier.

    Making Payroll Easy

    Saving money is great. It’s even better when you can cut costs while streamlining a part of your business. Contact us today if you have any questions about payroll.

  • Accidents happen, which is why workers’ compensation is a mandatory expense. Still, high rates can destroy your cashflow. 

    In my last post, I talked about how loss prevention strategies help prevent accidents in the first place, which can lower your rates. Today, I’d like to explain how an effective Cost Containment strategy can cut your costs, even if a claim is filed. 

    Risk management can benefit your business’ budget. Contact GMS to find out how a PEO can help.

    Cost Containment Services

    Many business owners consider worker’s compensation a cost of doing business. But professional employer organizations (PEOs) give you options to contain that cost.

    PEOs help you:

    • Choose the most appropriate workers’ compensation coverage for your group

    • Negotiate competitive programs with insurance providers

    • Implement a return-to-work program

    • Keep good records that can be used during the claims process, and more.

    Packaged together, these services make a huge difference in what you spend on workers’ compensation.

    More Than Just Cash Savings

    It is often said that your time is your most valuable asset. If you’re spending too much time fighting workers’ compensation claims, you aren’t focused on growing your business. 

    Many PEOs save you time by offering the following services:

    • Claims investigation

    • Claims certification

    • Hearing representation

    • And merit rate predictions

    We handle the details so you have the time to grow your business again.

    Better Cashflow Through a PEO

    We are extremely successful at fighting our clients’ workers’ compensation claims, saving them clients thousands of dollars in the process. If you’re tired of dealing with rising worker’s compensation costs, or simply want to know more let’s talk.

  • 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.

    Avoiding Claims

    It may sound obvious, but prevention is the best medicine. The safer the environment, the less likely you’ll have to deal with workers’ compensation. This is just one of many ways a professional employer organization (PEO) can help. 

    Specifically, PEOs can help your business implement loss prevention strategies that will reduce the risk of unfortunate incidents in the workplace.

    Some of these strategies include

    • Safety training programs

    • Development of safety manuals

    • Development of safety guidelines for employees

    • Workplace inspection and guidance on OSHA compliance

    • Development of drug-free and drug-testing programs

    Better Cashflow Through a PEO

    A study released by OSHA claims that a 15% reduction in injuries and illnesses from businesses that don’t have safety and health programs could result in a savings of $9 billion per year. On an individual level, that means more money that can be invested in the growth of your business.

    Have you thought about the potential impact loss prevention strategies can have on your bottom line? Ready to learn more? Contact GMS today.