Tag: peo

11 Jan 2019

CHRS celebrates employees at inaugural Grand Gala

Since August 2010, Caribbean HR Solutions has been providing seamless Human Resource Outsourcing (HRO), Recruiting, Payroll and Business Process Support solutions to new investors entering the business landscape of Jamaica. The company has been making its mark by servicing major players within the Manufacturing and Tourism and Airline industries as well as being a key contributor to the rapid growth in the Oil and Gas and Business Process Outsourcing (BPO) industries.

We have supported our client base by providing them with our high-quality HR Program Outsourcing, Payroll & Benefits, HR Consultancy, Executive Recruiting, High-Volume Recruiting and Employer of Record (EOR/PEO) services. Our business success is marked by our depth in local and global HR Expertise, the skillful deployment of HR Technology, and a genuine approach to Relationship Management.

As a company we have had a great 2018 and we are thankful to all our employees, clients, shareholders, and partners for their hard work and support. We capped the year off with our 1st CHRS Grand Gala that was held at the Day-O Plantation. As we celebrated this milestone, the Jamaica Gleaner was on hand to celebrate with us. See the link below to their article

http://jamaica-gleaner.com/article/social/20181221/caribbean-hr-solutions-celebrates-employees-inaugural-grand-gala

 

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27 Sep 2018

Why use an Administrative Service Organization (ASO)

What is an ASO

An Administrative Service Organization (ASO) is an organization that provides administrative and human resources services for its clients; this is a simple way to outsource tasks that can be more efficiently handled outside the company. ASOs can provide a variety of services for your company, including the following:

  • Payroll – direct deposit, W-2 processing, tax filing, reports, 401(k) administration and other tasks
  • Human resources – employee newsletters, help desk, handbooks, file maintenance, employee surveys, background checks, recruiting and other service options
  • Employee benefits – benefits enrollment, payment and premiums, COBRA administration and more

Difference between ASO and PEO

ASOs differ from professional employer organizations (PEOs), which provide a more comprehensive package of services and include a co-employment arrangement. The co-employment arrangement in a PEO contract means that the PEO becomes the employer of record and the PEO assumes some or all of the risks and liabilities related to employment.

Should I use an ASO

Whether or not an ASO is right for your company depends on several factors. First, you need to consider whether you want or need to outsource administrative and HR tasks. If so, do you need a full-service contract or just a few tasks handled for you? If you’re looking for a complete package of services and are willing to enter a co-employment agreement, a PEO may be a better choice. ASOs might be the favored option if you want to keep more employment control and need to choose only a few services to outsource.

Looking for ASOs in Jamaica? Contact us at 1-876-971-7632 or email us at sales@caribbeanhrsolutions.com.

Read more

http://clarkandassoc.com/wp-content/uploads/sites/2/2014/09/HR-Insights-Adminstrative-Service-Organizations.pdf

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20 Sep 2018

Should I use an employee leasing company?

What is employee leasing?

Employee leasing is a contractual arrangement in which the leasing company, also known as a professional employer organization (PEO), is the official employer. Employment responsibilities are typically shared between the leasing company and the business owner (you, in this case). You retain essential management control over the work performed by the employees. The leasing company, meanwhile, assumes responsibility for work such as reporting wages and employment taxes. Your main responsibility is writing a check to the leasing company to cover the payroll, taxes, benefits and administrative fees. The PEO will become the employer 0f record for the employee and will do the rest.

Why should I use an Employee leasing company?

The full list of the benefits of using PEO services was discussed in detail in the previous blog Professional Employment Organization (PEO): The Benefits. Here is a brief overview of the key benefits that were highlighted.

Employee leasing lets you add workers without adding administrative complexity. Employee leasing firms manage compliance with government regulations, payroll, S01 and So2 filing, and other paperwork. Some also offer pension and employee assistance programs.

By combining the employees of several companies into one large pool, PEOs can also offer business owners better rates on health-care and workers’ compensation coverage. The net effect can be significant savings of your time and money.

Employee leasing is a very popular choice for owners of small- and medium-sized businesses who want to focus on the business, not the administrative burdens behind it. If you think employee leasing might be right for your business contact us at 1-876-971-7907 or email sales@caribbeanhrsolutions.com.

 

Read more

https://www.entrepreneur.com/encyclopedia/leased-employees

 

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23 Aug 2018

Benefits of Workforce Management Outsourcing?

The most important investments organizations can make are in their people. Progressive organizations understand the importance of establishing best practices across their enterprises. However, when it comes to tracking, managing and paying a large, remote workforce, the best practices model gets compromised by administrative complexities and unnecessary waste.

If your employee scheduling, time collection, payroll and HRIS processes are draining key resources and costing your organization more than they should, it’s time to look to the marketplace for solutions.

After years of struggling with managing workforce and payroll service and other additional administrative services in-house, many companies have learned that outsourcing makes business sense.

There are a number of reasons for this paradigm shift:

  1. Lowers business expenses by reducing labor costs.

Automating and outsourcing workforce management processes results in fewer responsibilities for a business to have to worry about. This eliminates the need for unnecessary labor, such as bookkeeping or administration and allows the business to invest their money where it really counts.

  1. Helps businesses to minimize liabilities.

With constant changes in labor laws and regulations and the intricacies of processes like tax filing, it becomes nearly impossible for smaller businesses to stay abreast of every detail involved. Noncompliance can become a huge problem for businesses, costing them thousands of dollars in penalties and legal fees. However, businesses who outsource these processes can breathe a sigh of relief knowing that their service providers stay well-informed with all current laws and regulations to help them remain in compliance.

  1. Increases overall workforce productivity.

Outsourcing workforce management processes enable staff to concentrate on the core of their business’s success by freeing up their time from unnecessary tasks. With increased flexibility, a business can worry less about making sure things like payroll are processed on time and focus more on strategic initiatives that can improve their bottom line.

  1. Allows businesses to take advantage of service providers’ expertise and knowledge.

There are no better experts in the workforce management field than skilled, regional service providers. Equipped with tools and other valuable resources, they serve as local specialists to their clients. Automated workforce management platforms provide a great solution for routine tasks but service providers offer an extra advantage by giving professional insight and tailoring solutions to the specific needs of a business.

 

Caribbean HR Solutions is the premier provider of Workforce Management Services in Jamaica. For more information contact us at 1-876-971-7632 or email us at sales@caribbeanhrsolutions.com

Read more

http://www.mosaichcm.com/resources/blog/4-reasons-businesses-need-to-be-outsourcing-workforce-management-to-a-local/

 

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12 Jul 2018

Professional Employment Organization (PEO): The Benefits 

In our previous article we looked at a guide into Professional Employment Organizations. In this article we want to look at what are some of the benefits of using PEOs.

Business owners and managers know that every dollar, and frankly every cent, counts when it comes to running a business. As your business grows, your HR demands can pile up.

What if you had specialized HR experts readily available to help you fine-tune and economize some of the most challenging aspects of your business? How about having a trusted set of advisors to guide your company on employment issues? And how would providing your employees with access to big-business benefits improve your recruiting and retention efforts?

All of these factors have the potential to transform your business, but are they really possible? They are when you outsource your heaviest HR burdens to a professional employer organization (PEO).

So, where are the savings?

PEOs do more than just save time and headaches by handling many employer responsibilities. They can also save you money by helping you avoid costly pitfalls – like hiring the wrong candidate for a key role – and helping to steer you clear of HR-related compliance issues that could result in hefty fines.

Here are seven key areas where outsourcing your HR challenges to a PEO can help you save money:

  1. Employee Benefits

A primary goal of the PEO relationship is to provide your employees with access to cost-effective, comprehensive benefits without the administrative and regulatory burdens that can be so overwhelming and costly.

As a co-employer, the PEO is able to offer a wide variety of benefits to your employees through PEO-sponsored benefit plans, such as medical, dental and vision coverage, a healthcare flexible spending account, and life and disability benefits.

As the plan sponsor, the PEO will handle the related administrative tasks, such as negotiating with carriers and enrolling employees.

  1. Payroll

Working with a PEO can decrease your payroll-processing and related accounting costs. PEOs can also conveniently automate the payroll process and handle your Employers Monthly Payroll Deductions (so1) and Employers Annual Return (so2).

  1. HR compliance

Employment law is complex and ever-changing. Not keeping up with the countless HR laws, regulations, and rules that apply to your business can cost you big time.

Are you up to speed on the following laws and regulations? If not, a PEO can provide guidance from seasoned HR professionals and help you avoid compliance mishaps.

  • Are you aware of the paid sick time policies in effect?
  • Are you aware of current regulations for hiring and firing practices?

Regardless of whether you have an in-house HR person (or staff), teaming up with a PEO can give your business a significant advantage. You’ll have access to trusted advisors who work hand-in-hand with you to keep you aware of regulatory updates and guide your business in making the appropriate adjustments.

  1. Workers’ compensation

Insurance premiums and claims management – both of these components make workers’ comp costly and time-consuming. As a co-employer, a PEO can provide workers’ compensation coverage to your employees through its own workers’ compensation insurance program, as well as handle the compliance, audits, paperwork, and certifications associated with running these programs.

  1. Lawsuits

Think you can minimize legal expenses and PR fallout from lawsuits? A single lawsuit can devastate your business, so keeping your employer liabilities in check is critical. A PEO shares liability associated with certain employment-related claims, including wrongful termination.

For example, a top-tier PEO likely has equal employment opportunity specialists who are well-versed in the intricacies of discrimination laws. With a PEO as a resource, you can tap into the experience of multiple experts to mitigate a potentially costly settlement.

Their HR knowledge can help make sure release agreements are in compliance with the law. It’s important to note, however, that such advice is not a substitute for legal counsel. Instead, it serves as an added layer of defense – that second set of eyes to warn about potential trouble.

  1. Recruiting

These days, recruiting moves at light speed. Positions open up quickly and you almost always need an equally fast turnaround to find a qualified and capable candidate. The problem is, you probably don’t have the time and bandwidth to focus on the essentials of solid recruiting.

When you consider the time and money spent placing job ads, interviewing candidates, conducting background checks and more, hiring the wrong person can turn into a costly error. A thorough PEO should offer additional services, such as recruitment assistance, and be able to provide you with access to experienced recruiters who can size up your company’s employment needs.

A good recruiter is usually adept at reading people for particular jobs. They know how to analyze tone of voice during phone interviews, can assess a candidate’s attitude and evaluate emotional intelligence to determine a candidate’s capacity to perform well in a real-world job setting.

 

Looking for PEOs in Jamaica? Contact us at 1-876-971-7632 or email us at sales@caribbeanhrsolutions.com

 

Read full article

 

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05 Jul 2018

Professional Employer Organization (PEO): A Guide

Few entrepreneurs start their own companies because they love managing human resources. However, many become buried in the details of workforce management as their companies grow.

Small businesses with a headcount of 10 to 100 employees often find themselves in human resources limbo. They lack the time to address HR issues and also lack the resources to create an HR department.

Fortunately, many HR functions can be outsourced for a fraction of the cost of managing them in-house. Many small- to mid-sized companies hand those responsibilities over to professional employer organizations, or “PEOs.”

What is a PEO?

Put simply, a PEO is a third-party provider that can operate as your company’s off-site HR office. Just as an outside law firm might help your company with legal matters, the PEO can manage all HR-related jobs. Those functions include payroll, employee benefits, unemployment insurance taxes and worker’s compensation. The role of the PEO is to be an expert in all aspect of employing workers.

Used in Many Industries

What kind of a company would co-employ its workers with a PEO? The practice has become common across a wide range of different industries. Almost any kind of business may find value in outsourcing its employment work. Even companies with as many as 500 employees enlist the help of a PEO.

Small businesses lacking resources or expertise to perform most HR functions can gain the most from hiring a PEO. A good PEO offers efficiencies, integrated technology and cost savings in managing employees. A PEO also makes sure its clients comply with complex and ever-changing employment laws and regulations. Also, handing over most of the employment responsibilities to a PEO frees company owners to spend more time running and expanding their business.

A PEO appeals to many companies because it can help save money. Outsourcing employment responsibilities allow a business to maintain a scaled-back in-house HR department or no department at all. The PEO’s economy of scale also reduces costs related to recruiting and hiring, and software technology for HR functions.

Keeping Control

For some business owners, handing over so much responsibility to an outside firm sounds risky. Can using a PEO to handle payroll, worker’s comp, health care benefits and other functions mean possibly losing control of your company?

The short answer is no. The PEO’s client retains ownership of its company and control over operations. In a typical PEO contract, the PEO and client share employee responsibilities and liabilities as “co-employers.” The company still has control over maintaining its worksite and complying with safety regulations. Because it handles payroll, taxes and maintains employment records, the PEO does reserve a right to hire and fire. Generally, however, the PEO has no control over a client’s business operations.

Looking for PEOs in Jamaica? Contact us at 1-876-971-7632 or email us at sales@caribbeanhrsolutions.com

Read full article

http://www.rtsfinancial.com/articles/benefits-hiring-professional-employer-organization-peo

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