15 Jul The Advocates
The Advocates As they relate to the Staffing Industry
By Bob Barrow
Perhaps the title of this piece conjures up memories of bygone episodes of “The Avengers.” For those of you, too young to remember, The Avengers was a 1960s British television series in the Spy-Fi genre set in cold war Britain. The Avengers focused on John Steed (Patrick Macnee) and his investigative partners who, over time, were high profile, intelligent, stylish and, of course, athletic women working as government agents for the “Ministry.” Several of these ladies also appeared in James Bond films.
In running a business, it is just as important to rely on your brokerage agent to advocate on your behalf. Your business should be considered the “Ministry” to them. Your advocate should advise you on the latest trends with regard to your compliance issues and which of the many programs available can be tailored to your company’s requirements. After all, they are the keepers of knowledge that can promote, as well as protect your business.
Knowledge is power. Does your broker give you the benefit of his knowledge? A good advocate/broker will present your firm to insurance companies with an eye to showing its’ best advantage. Ask your broker to provide a free, no obligation verification of compliance. If this is not forthcoming, find another broker!
Take the guesswork out of running your business:
If you feel that the days are just not long enough to accomplish all the tasks that keep your business going, consider outsourcing those parts of your business that you find too cumbersome or time consuming. For less than it would cost in-house, relieving yourself of onerous daily busy-work will leave you free to run and grow your business, hone your products and efficiencies from above the fray, rather than from under all the paperwork and human resource issues.
If you have an interest in keeping more of your money longer, consider a program that allows you to pay your workers’ compensation As-You-Go. Premiums are based on actual payroll, not previously estimated payroll. If your payrolls go up so does your workers’ comp. If your payrolls go down so does your workers’ compensation (no guesswork here). And, because premiums are based on actual payroll, Payroll Audits are rare.
Identify and control the important factors related to your bottom line:
Hiring, and retaining, top notch personnel has become quite an art. There are programs available that are designed to attract and retain the best:
- Major Medical
- Dental and Vision coverage
- Also, you can provide other benefit programs that your employees can select and choose to buy on a voluntary basis:
- Critical Illness
- Identity Theft Shield and Prepaid Legal Services: If one of your employees’ identity is stolen it can cost them countless hours trying to repair the damage that’s been done to them; to you, it will mean a drop in productivity. This plan allows employees to stay focused on their work – a win-win result for everyone!
What you need to know to protect your employees and your company:
The big “C” as in Compliance with H.R. issues has become increasingly more complex in recent times. The Patient Protection and Affordable Care Act will change the way employee health plans are structured. As a business owner, you should be aware that not keeping up with the latest ongoing developments can be an expensive omission. You must know and understand the requirements.
If you require assistance with any of the topics discussed, please feel free to contact us to discuss a free, no obligation verification of your compliance, and allow us to share with you some options that you might not have considered in the past.
Barrow Group, LLC