| How can YourMarketSource.com
benefit my Agency? |
| It is simple, fax in a “Quote Request”
for one of your clients hard to place accounts and receive back first
hand a quote to save your client premium cost and time. |
| How does YourMarketSource.com
provide wholesale pricing? |
| YourMarketSource.com is the MGA superbroker for the
PEO industry. Through bundled volume discounts, we pass through savings to your clients. |
| Will I loose
control of my business? |
| No, clients become partners in the employment of
their workers. The client retains ownership of the company. The PEO
and client contractually share or assume employer responsibilities
and liabilities. The PEO assumes a real and factual employer role
responsible for payroll and employment taxes, maintaining employee
records, and have the authority to resolve employee disputes. By shifting
these responsibilities to the PEO, the client gains more command of
the strategy, sales and profit aspects of their business. |
| What is a PEO? |
| A PEO stands for "Professional Employer Organization".
PEO's are an outsourced human resource service that eliminates all
the tedious employee administration for business owners. All your
employee needs are professionally handled under one roof...allowing
business owners to focus on their business at hand, and not on time
consuming tasks such as employee claims, payroll issues and benefits. |
| Can clients really
save money using a PEO service? |
| Clients save up to 30% on existing expenditures for
Workers Compensation services, administrative time, employee benefits,
outside accounting and legal expenses, and other human resource expenses
|
| How do employees
feel about a PEO arrangement? |
| Your employees will love it! Employees appreciate
the expansive benefits offered by PEO’s. PEO’s are virtually
transparent to employees. |
| How does the
PEO benefit clients? |
| The PEO reduces cost and employer liability. Additional
benefits: - Workers Compensation at reduced rates - No deposits, minimum
premiums or audits - Complete payroll service - Immediate certificates
of insurance - Employee benefits |
| What employee
benefits does the PEO offer? |
| The PEO provides a comprehensive benefit program
including workers compensation, health insurance, cafeteria 125 plan,
401k, and Credit Union memberships. PEO’s will handle all the
appropriate deductions for employee benefits. |
| Can the client
company use their own or alternative employee benefit program? |
| Yes. The PEO will make the proper deductions/credits
at no additional expense. |
| What is the PEO/Client
relationship? |
| The PEO becomes a 'co-employer' with the business
owner. As a co-employer, The PEO provides Workers Compensation, payroll,
and administrates all legal and regulatory issues related to employees.
Clients control hiring, termination, supervision, and salaries. Clients
remain in control of how to utilize each employee to maintain their
daily operations. |
| What happens
when a work related injury occurs? |
| The PEO will respond immediately to all injury claims.
The safety and welfare of the employee is their top priority. The PEO will
help the injured worker return to work as soon as possible without
suffering financial loss. If litigation is necessary, the PEO will
coordinate all correspondence through its legal representatives. |
| What happens
to the Client's human resource department/person? |
| The Human Resource department/person will be freed
from tedious tasks and can focus on recruiting qualified people, managing
safety programs, employee training, and other profit oriented tasks.
|
| How does a client
terminate their relationship with the PEO? |
| The PEO does not require long-term contracts, and
clients can terminate their relationship at any time. To discontinue
services, simply provide 30-day written notice of termination indicating
the effective date. Then discontinue sending payroll hours. |
| Which states
does YourMarketSource.com offer its program? |
| Almost all states except for monopolistic fund states.
Our program works well with companies that operate in multiple states
as the PEO eliminates the need for multiple policies. |
| When is coverage
effective? |
| It is effective on the beginning date of the first
payroll. |
| I've heard that
using a PEO will impact the level of control I have over employees
issues. Is this true? |
| This is a common myth. The client company will always
retain day to day control of their place of business and the product
and service they provide. Key employer functions will still be in
the control of the client. |
| I already have
a staff dedicated to managing HR and Payroll. What happens to them? |
| During our proposal process, we'll discuss restructuring
options of current staff. They often contribute as the on-sight liaison
for coordinating employee related activities and communication with
the PEO office. |
| What does it
cost? |
| Most clients see our service costing them no more
than they are paying now, and usually less when they count their administrative
time, employer exposure, benefit management and keeping up to date
with employment regulation. |
