A professional employer organization
  • Benefits
  • Payroll
  • Human Resources

What is a PEO?

Organizations enter into an agreement with a PEO to establish a three-way relationship between a company, its employees, and the PEO. A business owner and a PEO become co-employers, instead of the traditional employer company/employee relationship. The individual employees continue to work at their company location, and business owners continue to exercise control over their business. The PEO takes responsibility for human resource administration, payroll and compliance, and employee benefit administration, for which it charges a service fee. This allows the PEO to provide businesses with employment administration relief and transfer or share many employer liabilities. Focus OneSource services allow organizations to systematically and strategically enhance the total quality of their organization, which results in greater efficiency and productivity.

How can Focus OneSource help me to grow my business?

Once business owners engage with a PEO, they can focus on what they do best – growing their business for increased results and profits. Business owners find that they actually gain more control over their company, because they are freed from administrative issues and details. In addition, employees reap the benefits with increased productivity and job satisfaction by having the tools and resources they need for effective management of their benefit packages via a provider exclusively devoted to this area.

What is the value of working with one organization for all of my business-critical needs?

Focus OneSource offers large company benefits and ensures HR compliance for organizations of any size. By partnering with Focus OneSource, the administration of payroll and benefits is made simple. Through years of experience the company’s founders are able to drive revenue and protect profits while simultaneously minimizing employer risk, allowing organizations to remain competitive in the “new economy.” Focus OneSource continues to add clients that represent some of the Midwest’s most respected companies.

What are the benefits of outsourcing?

Outsourcing is not a bad word, but rather a winning business strategy. We seek to outsource for services every day, but don’t recognize it. Most business have a CPA doing their monthly books and taxes, use an attorney when needed and even have a cleaning crew coming in at night to tidy the office. Why? Because successful owners know why they got into business and recognize they don’t have the expertise or time to do these tasks. It is critical that an owner focuses on their business with their talent and knowledge. It’s that skill and know-how which earns and enhances the business’ bottom line.

10 things to consider when choosing a 401(k) Plan

  1. Internal fund management fees and administration costs need to be kept reasonable and similar or less than industry averages.
  2. Plan trustees should know exactly what fees they and their employee participants are paying.
  3. A business’ plan should have a line-up of funds that provide a wide choice of investment options for both the more savvy investor, and the standard plan participant, who wants straightforward, simplified selection options.
  4. Be sure the plan is flexible and that it can be changed during the year to permit modifications of contribution levels of both employer and employee as well as other plan design changes needed to assure the plan is meeting its goals.
  5. Employers are required to educate and make available plan materials so their employees have a solid grasp of their 401(k) plan benefits. Many plans have available investment counselling, so plan participants can ask questions and get advice from a registered financial adviser.
  6. Retain a competent plan administrator to assure their 401(k) plan is compliant with Internal Revenue Service and Department of Labor requirements. Employers are required to complete or have completed a variety of tests to meet this criteria.
  7. Employers are required to provide new employees and long term employees with summary information regarding their plan as well as complete plan information, if requested.
  8. In today’s world of email and Web access, a plan should have a solid and secure platform for employee-access to their accounts to facilitate FAQs and education tools, fund balance information, and the ability to make trades and updates to their accounts 24/7.
  9. Although not necessarily required, employees should have access to their funds for such emergencies as medical needs, education and housing. Many plans provide an assortment of loan options which employees find valuable.
  10. Be sure the plan is viewed by employees as a valuable benefit and it fits the business’ overall employee benefit strategy and long term goals. Following the above points should help achieve this end.

 

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