AcriSource is Your PEO Solutions Resource

Current, correct and consistent PEO solutions

There are nearly 900 professional employer organizations (PEOs) in the United States, representing a $200 billion industry. AcriSource, Acrisure's PEO resource group, was established to be a conduit from our clients to "best in class" PEO providers from national, regional and niche markets. Through a discovery process, we can determine the best fit in the marketplace and help bring customized solutions for each individual client. This allows our brokers and clients to stay focused on their core services, while advocating for the client to help ensure implementation goes smoothly.

Through AcriSource's economies of scale, we can help negotiate competitive pricing for our clients.

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What is a Professional Employee Organization (PEO)?

Employers partner with PEOs to outsource certain of their employee management tasks, such as employee benefits, payroll and workers' compensation insurance, recruiting, risk/safety management and training & development. A PEO does this by hiring the client company's employees, thus becoming their employer of record for tax and insurance purposes. This practice is known as co-employment. The client company remains the common law employer of its employees and will continue to direct their day-to-day activities, while the PEO handles other employer responsibilities.

 
 

Example of employee management tasks a PEO can help with:

 

HR-Related Compliance

RECRUITING

RISK/SAFETY MANAGEMENT

TRAINING & DEVELOPMENT

MEDICAL INSURANCE & ANCILLARY COVERAGES

 

HUMAN RESOURCES SERVICES

ADMINISTRATION & SUPPORT

PAYROLL PROCESSING

HUMAN RESOURCE INFORMATION SYSTEM (HRIS)

EPL (EMPLOYMENT PRACTICES LIABILITY) INSURANCE

 

MULTIPLE EMPLOYER 401(K) PLAN

FEDERAL & STATE COMPLIANCE

TIME & ATTENDANCE SOLUTIONS

WORKERS' COMPENSATION INSURANCE

 
 

Why Should a Firm Consider Retaining a PEO?

Several variations of the PEO model exist, differing in the nature of the relationship formed. The typical relationships are based on the PEO’s ability to leverage tens of thousands of employees and build systems to accommodate the needs of employers, allowing them to better manage the life cycle of employment. By entering into this type of PEO arrangement, employers can recognize both hard and soft dollar savings while often helping to boost employee morale and retention.

Technology

From applicant tracking, onboarding and single-source sign-on to a human resource operating system, PEOs can help provide employers with technology solutions that they oftentimes may not even know that they need. A PEO can provide technology and systems that allow for an employer to gain access to better reporting and analytics about their employees that can often be difficult to compile from manual or disparate systems.

Employee Benefits

Because PEOs legally become the employer of record or taxpayer employer of their client companies’ employees, they are able to sponsor several employee welfare plans. This is particularly valuable to firms with fewer than 100 employees. In the open marketplace, these groups have been subject to new regulations in conjunction with the Patient Protection and Affordable Care Act (PPACA). The size of the PEOs qualify these firms as “large employers” so they are able to leverage that size to offer significantly more benefit options at often better rates. The ability to offer competitive benefit packages can help employers attract and retain quality employees. From an administrative standpoint, the eligibility tracking, enrollment, communication and administration of these plans is shifted to the PEO.

Workers' Compensation

Many PEOs and insurance companies allow for the workers' compensation insurance to be excluded from the co-employment relationship. AcriSource can help evaluate and determine the right option(s) for each company. With access to over 500 insurance providers inside the Acrisure Partner network, we work with brokers to determine the right course of action and the policy that fits each client's needs. Generally, a PEO plan will allow for better pricing because of the volume of business they have inside their own program. This is often the best route as it allows for "pay as you go" options and typically requires no down payment and results in reduced audit concerns. This can have a beneficial impact on a company’s cashflows.

Get Started with PEO Solutions
Got Questions? Ready to get started with exploring Acrisure's PEO solutions? Reach out to one of our leaders directly or fill out the contact form below.

Dan Mannes

Michelle Yeager

 
 

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