Tell us about yourself and your background before you joined the PEO industry.
My background for the past 20 years has been in Accounting and Payroll so entering the PEO industry has come naturally.
Please tell us a bit about the history of your PEO. Did you start the PEO or joined the company later on?
I started Payroll Source Group, Inc. a few years ago because I wanted to remove the bad stigma PEO has around the Knoxville TN area. I can’t change what has happened in the past but we are striving to make positive impact in this area by providing excellent service and transparency in our billing.
How do you explain the PEO services and benefits to a business owner who has not been involved with a PEO before?
We are here to partner with our clients and help them grow their business by alleviating the administrative burden of having to process payroll, deal with HR issues, and we manage their WC risk. We are always here to make sure the client has adequate WC coverage and employees are properly classified.
What do you enjoy about the PEO industry?
The PEO industry is a small knit community – it can be good or bad depending on what side you are on. What I enjoy the most about the PEO industry is everyone is always very helpful and I always receive excellent advise from the more seasoned veterans in the industry.
Provide a few points that you feel would differentiate your PEO from others.
- Reliability – we are always here to assist the client and make sure they are successful.
- Dedication – we staff Certified Payroll Professionals who handle the processing of our client’s accounts and who are experts in the field of Payroll and HR and who can guide employers regarding Payroll questions and regulations.
- Integrity – We provide transparency billing.
- 100% Woman Owned PEO.
What is your current opinion on the PEO industry and what is your projection for the days to come?
- Growth? There are always opportunities for PEOs to grow as many business owners have not heard of PEOs and the benefits that come with partnering with a PEO.
- Threats? There are a couple of threats I personally see in the PEO industry
- The number one threat is Risk and Claims. Having one major claim will take a PEO under. Having several catastrophic claims can and will take an Insurance Carrier under as we have seen recently with GIC. We have taken steps to ensure that risk and claims controlled by working and partnering with Paul Hughes of Liberate Insurance. We grow businesses by protecting our claims because of the data and years of WC Claims experience Paul Hughes has.
- The second threat I see to the PEO industry is Payroll Tax Liabilities. If the PEO does not pay the payroll tax liabilities the client is on the hook for the liability including penalties and fees. All of our clients tax liabilities are reported and paid accurately and timely. In fact, since I have been in the PEO industry, in that past 10 years I have not had one notice of late payment or a penalty. We stand behind our word.
What two or three things can a PEO Broker improve on to assist you in helping them to advocate on behalf of their client?
Have a detail description of operations of the prospect and have all the required paperwork in order before submitting to us. This way we can turn around a prospect quicker.
Who is your ideal client?
Our ideal client is a client who has at least 10 employees and are too busy to handle the processing of payroll and other administrative duties regarding employment.
Is your company active in the community or with a particular charity? If so, please describe the involvement.
We currently support the Emerald Youth Foundation of Knoxville as well as the Habitat for Humanity.