“The PEO business is so easy and uncomplicated that it basically runs itself,” said no one ever. Everyone who has ever been in the PEO industry knows what a crock that statement is: Running a PEO is difficult and complicated, to say the least. What helps, however, is planning, setting goals, and figuring out how to achieve those goals.
This feature focuses on setting goals. There are many tools available to help in the process, tools that help each PEO determine its own formula for developing strategic goals. These tools, listed in the glossary below, are available to all businesses, but for PEOs, context is everything.
The first and last articles in this feature examine how two of the most applicable tools work in the PEO context. In between, several PEOs with different models from around the country talk about how they do it.
At the end of 2016, the Internal Revenue Service (IRS) released a new revenue procedure and form on PEO certification. This is a clear sign that the IRS is preparing to finalize and approve PEOs for certification. What follows is a summary of IRS and NAPEO activities on PEO certification.
On May 12, 2016, the Occupational Safety and Health Administration (OSHA) published a final set of regulations, “Improve Tracking of Workplace Injuries and Illnesses.” The regulations primarily address issues related to the details of workplace injury recordkeeping. In the discussion of the rationale and basis for the regulations, OSHA included an announcement of a new drug testing policy.
The goal of this article is to provide a better understanding of the profile of your client company portfolio using the prominent classification systems available for business in America. The paramount classification systems—such as the Standard Industrial Classification (SIC) system, the North American Industry Classification System (NAICS), Fair Labor Standards Act (FLSA) exemptions, and workers’ compensation classification codes—each reveals something about a PEO’s portfolio of client companies, their employees, and the industry sectors they are a part of.
According to research, trust is the number-one reason a business will engage with a service company. So the big question is, how can you establish trust when marketing your PEO? Developing trust with your audience is no easy feat. Your company must be perceived as an industry expert. When looking at your marketing plan, first things first—before you start talking about yourself, look inward at your service offering.
Businesses that use PEOs like mine are far more successful than businesses that don’t. In fact, businesses that use PEOs grow 7 to 9 percent faster, have 10 to 14 percent lower employee turnover, and are 50 percent less likely to go out of business, as shown in NAPEO white papers, available at www.napeo.org/what-is-a-peo/about-the-peo-industry/napeo-white-papers.
As the saying goes, “There is a new sheriff in town” and it seemed to fit as I spent a few days in Washington, D.C., to observe the transition of power also known as the presidential inauguration. This was my first one, and it was worth the trip in many ways. It was also somewhat unique—here are a few observations.
In this space last month, I wrote about draft form 8973, which the IRS has published as part of its PEO certification implementation efforts. As you’ll recall from last month’s column, the form required signatures from the clients of all PEO companies that hope to be certified.
Scott Buchanan, president of Human Resources, Inc. (HRI) in St. Petersburg, Florida, passed away on January 30, 2017, following an extended battle with cancer. A native of Helena, Arkansas, Scott earned a BA in economics from Hendrix College and later an MBA from Emory University. He worked at Deloitte and Touche in Atlanta for more than 20 years, where he was the managing director of the Employee Benefits Tax Consulting Group.
Georgia is one of the few states whose code does not feature a PEO registration program. Despite a sizeable industry presence, the state currently only has a PEO recognition statute that was enacted in the early 1990s. Indeed, modernizing the Georgia code to provide greater operational certainty and further clarify the roles and duties of PEOs by adding provisions drawn from the NAPEO Model Act has been a top priority for NAPEO.
On February 15, the NAPEO Board of Directors approved a federal legislative and regulatory agenda for 2017-2018. The NAPEO Federal Government Affairs Committee (FGAC) developed the agenda during a two-day in-person meeting in Washington, D.C., in late January.
Q. We often discuss respecting antitrust laws at NAPEO conferences and other meetings. Now there is talk about HR professionals being at risk for antitrust violations. What is the genesis of this? A. Late last year, the Department of Justice (DOJ) and Federal Trade Commission (FTC) issued the ...
The PEO employment index reveals some flattening for the first time in several years. There is a close correlation between the index and the U.S. Gross Domestic Product (GDP).
At Group Management Services, we understand the importance of giving back to the communities where we live and work. This commitment has become part of our culture, engaging employees outside of their normal daily commitments.
Loving kids and understanding teachers is usually not a prerequisite for success at most PEOs. At New York City-based Little Bird HR, however, it is. Founded in 2014, Little Bird focuses on serving pre-K to 12 schools and providing high-touch HR solutions and services to nonprofit organizations.
Recently I detailed how stronger, faster economic growth is in the best interests of all Americans. Here are some of the U.S. Chamber of Commerce’s specific ideas for setting our country on a path to achieve that growth.