Project Description
A mid-size client with over one hundred employees was seeking assistance reevaluating their relationship with their PEO.
Challenge
The company had several ongoing projects in the Caribbean, and was subject to specific workers’ compensation (WC) regulations. One year prior, the client had engaged a large, well-known PEO; however, the PEO was not aware (nor able to accommodate) the client’s WC regulations in the Caribbean operations.Solution
The client consulted with Employee Benefit Advisors to review alternate PEO options and make a recommendation. Our analysis found a PEO that could accommodate the company’s Caribbean operation. In addition, our customized plan included specific adjustments to their benefits to better accommodate the needs of senior management.Results
In addition to netting the client a cost savings of tens of thousands of dollars, Employee Benefit Advisors helped the client achieve the following results:- Negotiated a substantial WC rebate from the original filings of the Caribbean WC premium,
- Additional savings from a reduction in operating expenses, and
- Lower insurance costs, including reduced health insurance and ancillary benefits.
CFO’s Testimonial
“Mike Schunk and Employee Benefits Advisors have worked closely with our company in a nationwide search for a Professional Employer Organization (PEO). Our search was very specific due to the construction-specific needs of our organization, while also meeting our HR and insurance needs at a competitive price. After evaluating dozens of agencies, we identified a PEO provider.
Mike has remained a close advisor of through the transition into the new PEO, annual insurance renewals, and on all issues related to insurance and benefits. Mike’s expertise and hands-on approach provides tremendous value to our company and assurance that we are doing the right thing for our employees. He consistently provides key information regarding the Affordable Care Act and its multitude of requirements so that we may remain compliant and prepare our business for the changes to come. And finally, we have received great value from the recent addition of the HR Advisor Portal, an online tool that is an excellent resource for all things HR-related. It is serving a great purpose to train our new HR Administrator and will be invaluable to me as we grow our business.”
