5 ways a PEO can help you manage risk.

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Any endeavor worth pursuing comes with a certain element of risk, and running your business is no exception. What have you done to minimize the risk of human error, or accidents? Do you understand the new risk that COVID-19 present to your workforce?

Professional employer organizations (PEOs) offer among their services, risk management. Risk management includes establishing policies and protocols to minimize potential workers’ comp claims and discrimination lawsuits, minimizing the risk from drug or alcohol abuse in the workplace, and managing other risks. With a PEO by your side, you have an active risk management structure in place to help you keep your business thriving with minimal problems.

Five Ways a PEO Can Help You Manage Risks

As a co-employer of your staff, your PEO has a vested interest in creating and maintaining a safe work environment. When working with a PEO, consider these five ways they can help you manage potential risks.

Ensuring adequate workers’ comp plans are in place: 

As part of their services, a PEO handles the workers’ comp insurance needs for the employees. This includes ensuring full compliance with workers’ comp policies, finding a good plan to cover employees, and making sure that coverage it up to date.

Handling workers’ comp claims promptly:

Another aspect of workers’ comp is handling claims promptly and efficiently.

Occupational Safety and Health Administration (OSHA) compliance: 

A PEO may conduct an audit of your firm’s OSHA compliance history and suggest changes and updates at your facility to ensure compliance. Such steps improve the safety conditions for your workers, minimizing the risk from potential accidents.

Substance abuse programs: 

Companies leave themselves open to risk when they fail to address potential substance abuse problems among employees. Whether it’s drugs, alcohol or prescription drugs, substance abuse can lead to impaired judgment, accidents and more. Proactive substance abuse programs and drug-free workplace programs mitigate such risks.

Loss prevention: 

Employee theft can lead to substantial property loss and risk. PEOs may take the lead in employee loss prevention efforts by frequently monitoring at-risk areas, adding security features, and otherwise helping you prevent loss through employee theft.

Lastly and now more than ever the changing work climate due to COVID-19 has shown the world how important it is to have a PEO, like Atlantic Payroll Partners by your side as you navigate this ever changing landscape. We want you to stay informed and feel empowered with your decisions. Visit our COVID-19 resource page or call us at 772-466-0440 for assistance.

Copyright 2020

 

About Atlantic Payroll Partners

At Atlantic Payroll Partners we believe we are the best, local payroll provider to help you grow your business. Even more than that. We’re a professional employment organization that offers an incredible suite of solutions for your business. In addition to offering payroll services we offer, full-service HR, workers’ compensation, accounting, and health care benefits. Our solution suite is back by over 100 years of combined experience in the PEO space.

We’re proud to say that we’ve helped businesses reduce employee turnover, increase revenue, make more money, and lighten their daily load by working with us. Our clients can offer their employees’ health care benefits and access to the same 401k plans that the Fortune 500 companies use without breaking the bank.

We welcome you to continue exploring our website, to learn more about Atlantic Payroll Partners and how we can help improve your business. We do our job, so that you can focus on yours.

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