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Don’t put your clients or your E&O at risk! Choosing a reputable Professional Employer Organization (PEO) for your clients is paramount. 

As PEOs become more mainstream, great caution should be considered when deciding which PEO to entrust. According to the National Association of Professional Employer Organizations (NAPEO), over 175,000 small to mid-sized employers utilize the services of a PEO to obtain affordable workers’ compensation coverage and to gain access to “Fortune 500 type” employee benefits.

Unfortunately, all too often when clients have obtained services from a PEO that has gone out of business, they discover that the PEO was not up to date on tax payments, payments to their workers’ compensation carrier and that employee health plans are no longer in force. In many states, there is case law that puts the onus on the client of the PEO to fulfill the tax deficiency as well as deal with the ramifications of a lapse in workers’ compensation and health insurance coverage. The reality is that this could have all been avoided if the broker and/or client had done their due diligence.

Price and perceived service offerings should not be your only drivers to contracting your client with a specific PEO. A good deal of effort should be taken with the consideration and vetting before endorsing the services of a PEO.

What to look for:

• Financial Stability- If the PEO you are considering is privately owned ask for audited financials. If they refuse, this should be a sign of concern.
• Experience- This is important because many PEOs are at the mercy of outside resources to provide the coverage's being offered to their clients. For example, the PEOs workers’ compensation and major medical carrier relationships. Take notice of how long the PEO you’re considering has maintained these outside relationships. Look for PEOs with long standing relationships with their outside providers as this shows stability.
• Infrastructure- What sort of infrastructure does the PEO candidate possess, will it maximize the impact on the service to the client’s company and their employees. 
• Interests- Is the PEO and your client’s interests aligned, will it maximize the impact on savings and offerings to the client.                    

HR & PEO, a brokerage company, enjoys a highly respected reputation (over 22+ years) among its peers and competitors due to their success in carving a niche in the volatile high hazard workers’ compensation coverage market. A testament to our success has been the vision and ability to create a highly effective business model that guide and supports businesses in high-risk environments where many companies have failed.

Using PEOs that provide meaningful care for potentially injured workers, the goal is simple. Provide meaningful care for injured workers as quickly and effectively as possible, while mitigating cost through the effectiveness of micromanaging claims. This one aspect can and does provide quantifiable results that lead right to the clients’ bottom line through reduced experience modifiers, which is a key driver for the cost of workers’ compensation.

Since we bridge the client and the PEO together, we create peace of mind and financial long-term stability. Financial stability and culture run through the veins of both companies so why not utilize a PEO with the same goals for your company and/or for your clients. It is the foundation for the overall stability and longevity that they both will carry into the future.                    

Partnering with a PEO can provide many benefits to your clients and/or to your company. However not choosing wisely poses a potential catastrophic risk to your clients and/or you company not to mention the exposure to E&O claims.