How to Reduce Your Cost of Labor
Reducing the cost of labor is a challenge most employers face in order to stay competitive and be profitable. Figuring out how to reduce your costs related to workers' compensation, employee benefits and payroll services can be very difficult when you don't know the right questions to ask your carrier, PEO or payroll provider. We know exactly what to ask and where to look to reduce your costs in any of these areas. Click the Learn More button to read more about how we can help you do this.
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THE STEPS We Took:
1. We had the client answer a list of questions as part of a needs analysis.
2. We gathered billing information for their medical insurance along with billing from their PEO.
3. We complied all of that information and used it to get quotes from various carriers/PEO's.
4. Then we found comparable plan designs with similar deductibles and copay, so that we could compare apples to apples.
5. Once all the pricing information came back, we created a spreadsheet so that the client could see the savings attached to comparable plans with his existing one. In some cases, some of the plans were actually better than the one he was currently using.