When an employee has a workplace accident, they have the right to file a workers’ compensation coverage claim. As a business owner, managing these claims can be complicated and difficult, especially when the burden is placed entirely on your shoulders. That’s where a PEO can help. Working with a PEO can help reduce the risks associated with workers' comp claims and set you up for success in the future.
In this article, we’ll discuss the benefits of using a PEO workers’ comp claim management system and why you should consider working with SPLI to get benefits that you won’t get with any other PEO.
What is a PEO?
PEO stands for Professional Employer Organization. This is a type of human resources outsourcing where the PEO provides leased employees that work under your direction and control. This means that you will manage your business, and the PEO company will handle different administrative tasks and human resource functions. This can include things like payroll, benefits management, and workers' comp claims.
PEOs are helpful to businesses as they handle some of the tasks that can take up the time of small business owners and managers. It allows you to offer better benefits and can even streamline your human resources functions so that you have a happier, healthier team.
The Benefits of Using a PEO for Workers Comp Claim Management
One of the areas in which a PEO can significantly help business owners are workers' comp claim management. By partnering with a PEO, you can receive many different benefits that make the investment more than worth the cost. Here are a few of the reasons why you should work with a PEO for workers' comp.
If you are just starting a business, you might not know exactly how to handle workers' comp claims or how to make sure that you are treating your employees fairly within the system. A PEO has the experience that you might lack and can help resolve a worker’s claim quickly and efficiently, so no time is wasted.
In many places, having worker’s compensation insurance is a requirement. However, there might be different safety regulations, qualifications, and even local ordinances that further complicate the rules of workers' comp. A PEO can help you comply with some of the administrative, wage, and tax requirements businesses need to meet in order to help you avoid potential legal issues.
A PEO has a vested interest in making sure that a claim is closed and resolved as quickly as possible. You and the PEO share responsibility for a claim, so they want to limit investment in the claim and minimize the impact on their business and yours.
Cover Your Business for the Future
A PEO helps you protect your business for the future by using its management systems and plans to maximize compliance, offer great benefits to employees, and quickly resolve claims. They also help you relieve the burden of human resources task costs, limit loss expenses, and manage workers' compensation claims so that you can focus on improving your business and creating a great environment for your employees.
Partner with SPLI to Protect Your Business and Improve Your Employee Benefits
At SPLI, we provide businesses with the support they need to manage critical human resources responsibilities, including workers' comp claims. We help you find the right benefits package so that you retain more employees, have greater levels of worker satisfaction, and get better outcomes. We provide benefits like health, dental, and vision insurance, financial protection, prescription services, legal plans, identity theft protection, and more.
To learn more about how SPLI can help your business, request a quote today, and we will get in touch to help you find the best solution for your needs.