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StaffMarket Member for 13 yearshttp://www.alcotthr.com
71 Executive Blvd.
Farmingdale, NY 11735
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Time/Labor Data Collection
Employee Payment Method
Vacation and Sick Accrual
Employee Discount Plans
Alcott HR Group LLC may offer HR Outsourcing services as a Professional Employer Organization (PEO) or by providing HR administrative services as an Administrative Services Organization (ASO) . Contact StaffMarket for assistance with the HR Outsourcing types and options available and to get PEO Quotes for your company. In addition some states require a PEO to be licensed. Review PEO and employee leasing licensing requirements. Search StaffMarket for more information about Alcott HR Group LLC.
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The recession of 2006 through 2012 has forced many small and medium sized companies to close their doors. These recession casualties have caused the PEO retention rates to be reduced. New start-up companies often hire a PEO since they get turn key insurance HR administrative services. In general, start up companies have a high failure rate. According to this research only 43% of businesses started in 2005 were still in existence five years later. Since new businesses often hire a PEO, it can be inferred that any PEO with a five year retention rate over 43% is adding value and expertise that helps start up companies survive and prosper. Review the BLS failure rate for business startups. Some PEOs have specialized in construction and other high risk (for workers’ compensation insurance) industries. These PEOs have seen high client attrition due to the fact that their target client market has shrunk. In addition, geography also plays a role. Most PEOs cover only limited states and some states have been affected by the recession much more than others. For example, PEOs that specialize in construction in Florida have seen a high customer loss rate during the recession.Client drops the PEO
In some cases the PEO client may become dissatisfied with the PEO service level or to changes in the PEO benefits plans. Although rare, some PEO have moved from group health insurance plans to individually underwritten plans and this has affected the health insurance costs for the client. I those cases the client may leave the PEO to engage a different PEO or go to a standard market health insurance plan.PEO drops the client
In other situations the PEO may drop the client if the client refuses to implement safety programs that keep work comp costs in check or fails to implement the recommended HR processes. PEOs work to keep insurance and employment risk costs in check and may terminate clients who do not assist with those objectives.×
Since 1999, StaffMarket has assisted thousands of business owners find the best PEO for their needs. Each calendar quarter we poll each busineses to determine how satisfied they are with the PEO they have chosen. PEO clients rank their PEO from 1 - 5 on 6 categories:
Payroll Accuracy Payroll services are a critical part of the PEO value for a business. A PEO who makes errors with inaccurate payroll can be very frustrating for the PEO client and its employees. Payroll services are vital to cusomter satisfaction.
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Workers Compensation Program Handling Workers' compensation claims and safety programs is an important part of the value of a PEO.
Health Insurance Plans For clients using the PEOs health plans, this is meant for clients to rate the overall health insurance offering and management for he plan they are getting throught their PEO.
HR Services The general satsifaction with the PEOs handling of the wide world of HR services.
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