With new workforce demands and rapidly advancing technology, HR outsourcing services are evolving. Companies that partner with a PEO or CPEO might not realize everything that’s offered. At MidwestHR, a Chicago PEO, we’re constantly investing time and money to best support our clients. We update them regularly so they can benefit from these advances. Is your PEO or CPEO promoting new services available? From recruitment to retirement, we want our clients to take advantage of all the services offered at MidwestHR.
It’s been a big year for us. In addition to the IRS naming us one of the first Certified Professional Employer Organizations (CPEO), we’ve also transformed our technology platform. Our payroll portal allows clients to manage everything from their computer or smart device:
- Hiring From job ad placement to performing due diligence, our applicant tracking module does it all.
- Digital on-boarding Efficiently capture mandatory paperwork to kick off the new hire process (Coming soon! Digital benefits on-boarding)
- Time and labor Manage all time tracking, time off requests and reporting
- Payroll Approve processing and view/run reports
- Employee self-service Employees request time off, view benefits, update info and more
- Manager self-service “Favorites” feature saves times for frequently accessed tasks
- Performance management Create job descriptions, assign jobs, schedule/perform reviews and document disciplinary actions.
Top talent wants to work for a company that offers a retirement plan. This can be cost prohibitive for smaller companies. Our long-standing partnership with Transamerica allows us to waive the standard set-up fee and yearly administration costs for a 401K to client adopters, plus it offers:
- Plan design flexibility Customize waiting period, employer match and vesting to fit company needs.
- Robust investment choices Investments and target-date solutions from prominent management companies and fund types
- Reduced retirement plan administration MidwestHR and Transamerica handle most of the plan administration
- Reduced costs Moving a retirement plan to MidwestHR eliminates expenses such as plan audits, testing, annual reporting, document prep and participant statement costs
- Online account management Perform transactions, view account balances, change deferral percentages and more
- Participant education Resources to enroll and educate employees and participants
Voluntary benefits are another challenge for businesses with its high cost and participation requirements. By partnering with MidwestHR, our clients can offer a comprehensive benefits program that doesn’t impact their budget. Since we handle all benefits administration, this is a turn-key solution offering dental, vision, life insurance, short- and long-term disability, supplemental group plans (through Aflac), flexible spending accounts and credit union membership.
Make sure you’re getting the most out of your PEO partnership. If you’re thinking of transitioning, our new CPEO status allows companies to switch mid-year without the wage base restarting. That means a new client can move mid-year to MidwestHR and it no longer triggers a double tax payment. We’re ready to help you FULLY UTILIZE all our services! Give us a call 630-836-3000. to learn what is HR outsourcing and how it can benefit your company.
The IRS does not endorse any particular Certified Professional Employer Organization. For more information on CPEOs, go to www.IRS.gov.