MPG SOLUTIONS > PROFESSIONAL EMPLOYER ORGANIZATION (PEO)
A Professional Employer Organization (PEO) is ideal for both small and mid-sized businesses. A PEO can be more cost-effective than hiring a full-time HR staff. For small businesses, a PEO can help keep up with the demands of managing all the HR-related activities of a growing business. At Monarch Partners Group (MPG), we can place Workers’ Compensation insurance for most distressed risks including Staffing through our carefully selected and vetted PEO programs.
PEOs provide HR services, payroll, and employee benefits as well as Workers’ Compensation coverage to businesses and their workforces. The PEO and the business entity become co-employers of record of the workforce with the PEO solely obligated to pay payroll and payroll taxes and manage and pay Workers’ Compensation claims.
For employee benefits purposes, the co-employment structure allows the business the freedom to retain or secure all or some employee benefits outside of the PEO and/or use all or some of the PEO’s benefit programs.
Workers’ Compensation coverage is provided under the PEO’s master policy. In addition, as part of their suite of HR management services, many PEOs offer companies professional Workers’ Compensation loss control and claims management services. This can include everything from pre-employment drug tests to loss control and safety procedures, claims management of injuries, safety training, employee assistance plans, return-to-work programs, and drug-free workplace programs.
PEOs use a pay-as-you-go process with each payroll providing clients with the benefit of better administration and cash flow management.
New potential PEO clients’ needs are evaluated and underwritten by both the PEO and their Workers’ Compensation carrier, which usually takes one to three weeks to complete.
With more than 30 years of experience and $900 million in payroll in our programs, MPG can find a Workers’ Compensation solution for most any distressed risk in any industry. We do this through our carefully selected, vetted and contracted Standard Markets, Administration Service Organizations (ASO), Professional Employer Organizations (PEO), Employer Of Record (EOR), and Captive program markets. MPG delivers to Agents & Brokers and their clients the right tailored solution. One size does not fit all when it comes to Workers’ Compensation solutions.