Zynergia has listed some frequently asked questions (FAQs) to help you navigate HR services and management. We have our most common FAQs listed below.
How can Zynergia HR help with my payroll?
Payroll plays a critical role in the internal operations and human capital management of a business. Payroll and payroll taxes are subject to many Federal, State and local regulations which can be onerous to manage appropriately. Exemptions, garnishments, withholdings can lead to cumulative fines, penalties and other consequences if not administered appropriately under often complex and confusing court order and IRS/State rules. Payroll errors, such as late or incorrect paychecks, incorrectly tracked PTO or time tracking errors can cause tension between employees and their employers. Zynergia’s payroll and tax system, timeclock integrations, as well as its well-disciplined and highly knowledgeable payroll group can keep this area well managed on your behalf.
Can Zynergia HR help my human resource department to perform better?
Zynergia’s human resources group will help manage and guide your company in respect to policy creation and documentation, employee benefits design, employee recruitment, compliance and performance training, performance appraisals and improvement, as well as reward management, such as developing and managing compensation models and employee benefit systems. The overall purpose of human resources (HR) is to ensure that the organization is able to achieve success and efficiency through people. Zynergia believes human resources managers are business partners helping our client executive maximize their human capital management efforts.
Zynergia’s sourcing and recruitment group can help post, evaluate and place your personnel directly or offer assistance in the process. We will leverage are capabilities and economies of scale to find you the best candidates.
Does Zynergia HR have benefit management capabilities?
The purpose of employee benefits is to attract, retain and increase the economic security of client’s valuable resource, its workers. Benefit management can achieve these goals; however, benefit management can also be very complex as well as create very onerous liabilities if not properly documented and administrated. Zynergia’s benefit management group is highly adept at creating the appropriate reward system for your workforce as well as the associated sourcing, placement through its partners and administration of group insurance (health, dental, life, etc.), disability income protection, retirement benefits, tuition reimbursement, sick leave, vacation (paid and unpaid), social security, profit sharing, employer student loan contributions, leaves (maternity, paternity, military, etc.) as well as other specialized benefits.
Does Zynergia HR offer ERM and HCM consulting?
Zynergia excels in Enterprise Risk Management (ERM), Human Capital Management (HCM), workers’ compensation, safety management and organizational development. Zynergia enhances enterprise value by addressing corporate infrastructure issues to drive down costs, improve return on assets, manage risks and develop processes to create best practices in Risk, HR and Administration functions.
We offer a broad range a strategic planning in the ERM and HCM areas to include preparation of your risk program for a due diligence process associated with acquisition, insurance coverage redesign, utilization of outsourcing (risk transfer), correction of collateral burden and misaligned or poor performing current TPA providers as well as underperforming internal claims, risk and loss control functions. We will conduct a survey based on our client’s areas of interest and utilize advanced analytics to identified external threats and competitive opportunities. Specific strategies will be discussed and vetted during the review process in order to arrive at our client’s desired outcome. A strategic plan will be developed and implemented based upon the client’s desired schedule of completion.
Zynergia, from the perspective of the insured, will design and implement claim corrective actions to dramatically reduce the workers’ compensation, legal and EPLI claims experience of our clients in order to achieve significant total incurred savings. We will design and implement a correction plan to include the client’s internal personnel skill level improvement, sourcing of appropriate required additional personnel if needed, as well as the utilization of advanced analytics to identify the highest yield and impact areas to achieve the fastest turnaround.
Workforce Operational Quality Assurance and Scalability
Zynergia will design and implement metrics, processes and operating procedures to maximize human capital operational output by assessing our client’s current internal efficiencies. The client’s future growth and scalability desire, service offerings, market placement and profitability will influence Zynergia’s strategy for achievement of the goals through a well-designed project plan.
Zynergia can design and implement executive level assessment tools to allow the gauging of skill levels and scalability of departments, teams and individuals. Skill level assessments, growth potential evaluations, creation and implementation of performance and training programs can also be developed in order to effectively develop the client’s personnel to higher skill and leadership levels. Succession planning is a natural outcome from these activities.
Human Capital Management
Zynergia can design and implement systematic evaluation processes in order to facilitate a scalable staffing model with the identification of skill level deficits within functional areas and the corrective actions required to bolster the various areas including succession planning, management upgrades, personnel replacements and other cultural changes to achieve the companies’ desired results.
Interim Risk and Human Resources Management & Mentoring
We can assist in the interim management of organizations, departments and functions while our clients are sourcing a permanent placement or implementing a more permanent arrangement. We have vast experience in this service, particularly while implementing turnaround activities. An alternative option would be to rely upon Interim Risk to assist in more advanced activities required by the client while offering mentoring to the internal personnel currently in place.
Can Zynergia HR help staffing companies?
Zynergia can help your staffing company to achieve scaling, lower costs, increased cash availability as well as the ability to enter States that previously would not be accessible to you. As a full functional PEO, Zynergia already has the back office well in hand. We administer payroll, workers’ compensation, benefits, human resource requirements at a volume and efficiency that small to medium staffing companies can rarely achieve. We also leverage our economies of scale, efficiencies and volume to reduce your costs (even on an outsourced basis to us). We also offer payment terms that will effectively increase your cash flow. In addition, because of risk management mitigation efforts, size of our risk pool and insurance design, we can effectively limit the impact of adverse large claim impacts as well as experience modification rate negative trends.
As your back office, we can white label our services and offerings effectively becoming unseen to your clients leaving you with the total focus upon the business of recruiting, sourcing and placing in the front office.
What is a PEO?
A Professional Employer Organization, or PEO, provides client companies with outsourced human resource services such as payroll, state unemployment insurance and administration of associated claims, workers’ compensation and oversight of aggressive claim management (TPA adjusters), as well as employment law compliance assistance by providing expert advisement, policy development and documentation and compliance protocols. PEOs require a contractual agreement which specifies the duties and responsibilities of the PEO as well as the client company. This establishes a model known as “joint employment” or “co-employment.” Unless otherwise required by a specific State mandate, the PEO assumes the “statutory” employer role while the client company assumes the “common law employer” role. This arrangement allows the client company to transfer many of its key employer responsibilities to the PEO, while continuing to manage their employees’ day-to-day activities.
The PEO is considered the “Employer of Record” for tax and insurance purposes, as well as federal and state employment laws like wage and hour regulations. In general, the PEO bears the majority of the employer liability risks (the agreement will specify specific thresholds of liability the PEO and client company have accepted and under which circumstances).
The PEO generally provides the employee benefit programs, such as retirement plans and health coverage at a cost savings to the client company based upon the advantages of economies of scale (example: a far greater insured lives base as well as buying power). The PEO also has the ability to absorb and spread risk across all of its clients (risk absorption and transfer). This gives small to mid-sized businesses access to larger company benefits.
The employees of the PEO are generally positioned to provide very high levels of knowledge and expertise found in very large companies and generally would not be accessible too small to medium sized employers.
What is an HRO?
In this model, we are not your employees’ employer, but we provide virtually the same suite of services that a PEO offers — for a fraction of the cost. We offer you the best of both service models without becoming the “employer of record.” Zynergia provides a toolbox full of resources and services to choose from in areas like benefits administration, employee onboarding, managed payroll, employee handbooks, employee training and regulatory compliance.
We handle transactional HR tasks so that you can concentrate on company culture, employee retention, productivity and patient services. We offer a single outsourcing solution that gives you more time to attend to your organization’s strategic execution, productivity and profitability. The Zynergia cloud-based workforce management solutions integrate HR, time and attendance and payroll functions to deliver better visibility and control of your labor costs, productivity and compliance.
While Zynergia can deliver as a PEO, we also consider ourselves a Human Resources Outsourcing (HRO) service provider. HRO is one of the fastest-growing segments of the Business Process Outsourcing (BPO) market. Many businesses turn to HRO firms to help them manage payroll, benefits and HR administration, workplace compliance and recruiting. Companies are always looking for ways to reduce costs and improve efficiencies and productivity. By outsourcing certain HR functions, business leaders gain time to play a more strategic role in their organizations. Solutions are tailored to individual client needs, designed to be practical day-to-day and deliver long-term strategic benefits through HR management. Our services can be used independently or integrated for a comprehensive plan, giving you flexibility and expertise when you need it most.
What is meant by an alternate workers compensation market and how can a PEO help in this area?
PEO potential clients may have one of the below or similar situations for which the PEO’s workers’ compensation and risk management program may be of help:
- A risk with a tough WC class that the traditional WC market no longer wants to write, or the costs have become prohibitive
- A risk with a high experience mod that adversely effects the total premium
- A risk that has experienced some tough loss history (shock losses, uncontrolled claim frequently or severity)
- A risk with multi-state exposure (inability to obtain appropriate separate policies, etc.)
- A risk that requires specific coverage and/or endorsements that cannot be obtained through the policy form being used, or the carrier is not willing to accommodate
Zynergia’s risk management program and workers’ compensation policy designs can be the answer to all of the above issues under the PEO model. In addition, as experts in risk and claims management, Zynergia will be able to assist in the reduction of adverse claim trends by utilizing its safety services, advance risk management techniques and available correction resources. With the anticipated reductions in consideration, the client company will be reviewed and assessed by Zynergia during the underwriting process. An appropriate anticipated loss pick can then be applied generally offering a favorable premium result versus the standard market. The EMR trending can be reduced over a several-year period while with Zynergia.
What are some of the benefits of using a PEO?
There are three ways small businesses benefit from using a PEO: growth, low turnover rates and less likely to go out of business.
Statistics have shown that small businesses grow 7% to 9% faster with a PEO. Since December 2004, employment at small businesses using a PEO has grown more than 7% faster than at small businesses overall, according to the Intuit Small Business Employment Index.
Employee turnover is 10% to 14% lower with PEO in small businesses. The average overall employee turnover rate in the United States is approximately 42% per year, based on 2012 data. It is 28% to 32% for companies that use a PEO for at least four quarters.
Small businesses are less likely to go out of business with a PEO. Businesses that use a PEO are approximately 50% less likely to fail or permanently go out of business, from one year to the next when compared to similar companies in the population as a whole. The overall business failure rate among private businesses in the United States as a whole is approximately 8% per year, based on 2012 data. It is approximately 4% per year for those companies that use a PEO for at least four quarters.
How can employees benefit from a PEO?
PEOs can help employees of small businesses in three ways: access to great benefits, participation in retirement savings plans and human resources assistance.
Using a PEO gives employees access to fortune 500 employee benefits. Through a PEO, the employees of small businesses gain access to big-business employee benefits such as: health insurance, dental and vision care, life insurance, retirement saving plans, job counseling, adoption assistance, educational benefits and even pet insurance.
Small businesses see an increased participation from employees in retirement savings plans. Among businesses with fewer than 10 employees, those using PEO have more than 3 times greater participation in a retirement plan than employees of businesses that do not use a PEO. For businesses with 10 to 49 employees, 52% of PEO client business employees have a retirement plan, versus the 23% in those companies that do not use a PEO.
Employees benefit with assistance from human resource professional with a PEO. Most small companies cannot afford to hire a human resources professional. In contrast, almost all PEOs provide access to human resource professionals as a part of their services to small businesses. Through this service, PEOs help small businesses comply with myriad federal, state and local employment laws and help their employees better understand their rights and responsibilities under these requirements.