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What is a PEO?
What is co-employment?
In a co-employment, who controls my employees?
How does a PEO and co-employment relationship work?
What is the difference between temporary staffing services and a PEO arrangement?
Will I lose control of my business or employees with a PEO arrangement?
Who is responsible for the employee's wages and employment taxes?
Who is responsible for state unemployment taxes?
Who is responsible for employment laws and regulations?
Who is responsible for workers' compensation?
I am not comfortable with a full PEO or co-employment relationship, are there other options available?
What is an Administrative Services Outsourcing (ASO)?
Why would a business owner use Odyssey OneSource?
How long has Odyssey OneSource been in business?
How does Human Resources Outsourcing (HRO) work for my company?
Why would my business outsource HR?
How will this relationship affect my employees?
How does Odyssey OneSource’s PEO and ASO arrangements work?
What businesses use HR outsourcing solutions?
What if I already have an HR person, or department?
Why do I need to worry about HR? I don't have time!
What problems does Odyssey OneSource help solve?
What are the costs for human resource services?
What makes Odyssey OneSource different from other HR Consulting firms?
Why should I outsource any of my human resources functions or projects?
Can I easily terminate this relationship if I choose?
Does my company become part of a large group benefit plan by partnering with your company?
Does Odyssey offer 401k that can be modified by the client?
Does the Odyssey 401k plan offer IRS Safe Harbor plan designs?
Does Odyssey offer any type of Non-Qualified Deferred Compensation program?
Does Odyssey assist with the procurement of health & welfare benefits?
What is a PEO?
As a business owner, you are faced with managing increasingly complex employee-related issues, including employee relations, employee benefits, workers’ compensation claims, payroll and payroll tax compliance, unemployment insurance claims and much more.
Odyssey OneSource enables you to outsource these services through a partnership with a Professional Employer Organization (PEO). The partnership between your company and the PEO is known as a co-employment relationship. In this partnership, Odyssey provides your company with HR solutions and becomes the employer of record for your staff. As a co-employer with your company, Odyssey contractually assumes some of the accompanying legal risks and liabilities of being an employer.
Partner with Odyssey and delegate your administrative tasks to our team of experts. You’ll have more time to focus on your core business and grow your bottom line.
Contact us for more information or call 866.508.7361 to speak to an Odyssey OneSource representative.
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What is co-employment?
Co-employment is a relationship between Odyssey OneSource and a client, in which Odyssey is responsible for handling the requirements of the IRS, Social Security, Unemployment, and more. Odyssey becomes the employer of record as it relates to W-2's, issuing payroll checks, and working with compliance and regulatory matters.
Under this arrangement, a client company contracts with an organization like Odyssey OneSource as a co-employer of its worksite employees. Odyssey OneSource and the client company share certain employer responsibilities, but the client company maintains control of its day-to-day operations and remains responsible for hiring and terminating employees. The provider assumes a certain degree of liability for the company's payroll and tax administration, risk management, workers' compensation coverage and legal compliance.
Contact us for more information or call 866.508.7361 to speak to an Odyssey OneSource representative.
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In co-employment, who controls my employees?
Each client company maintains control of the employees. It is still the responsibility of the client to hire, direct and guide employees on a daily basis.
How does a PEO and co-employment relationship work?
In a co-employment relationship, you, your employees and the Professional Employer Organization (PEO) come together to establish a partnership. As the PEO, Odyssey OneSource assumes the responsibility and administrative burdens of payroll, payroll taxes and employee benefits. We also take legal responsibility for matters involving HR management and compliance with employment laws, while you retain control of key functions, including managing worksite employees, product development, distribution, marketing, sales and services.
In the co-employment relationship, you focus your time and energy on the “business of business” and away from the “business of employment.”
Contact us for more information or call 866.508.7361 to speak to an Odyssey OneSource representative.
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What is the difference between temporary staffing services and a PEO arrangement?
A temporary staffing service recruits employees and assigns them to clients to support or supplement the client's workforce in special work situations, such as employee absences, temporary skill shortages, or seasonal workloads. A PEO contractually assumes and manages employer responsibilities for all or a majority of a client's workforce. Worksite employees participate in the PEO's full range of employee benefits including, health, dental, and life insurance, vision care, and retirement savings plans.
Contact us for more information or call 866.508.7361 to speak to an Odyssey OneSource representative.
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Will I lose control of my business or employees with a PEO arrangement?
No. You retain ownership of your company and you continue to make key business decisions and manage employees. As co-employers, Odyssey OneSource and your company contractually share or assume employer responsibilities and liabilities. Odyssey OneSource becomes responsible for payroll and employment taxes, human resource compliance, managing unemployment, maintaining employee records, and many of the other time-consuming and tedious chores associated with employment administration. Your company actually gains more command of the revenue generating aspects of your business, which is why you went into business in the first place.
Contact us for more information or call 866.508.7361 to speak to an Odyssey OneSource representative.
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Who is responsible for the employee's wages and employment taxes?
PEOs assume responsibility and liability for payment of wages and compliance with all rules and regulations governing the reporting and payment of federal and state taxes on wages paid to its employees. The Internal Revenue Service recognizes the PEO as the employer for federal income and unemployment taxes, and case law affirms the principle that the PEO is responsible for payroll taxes.
Who is responsible for state unemployment taxes?
As the employer for employment tax and employee benefits, PEOs assume responsibility and liability for payment of state unemployment taxes, and most states recognize the PEO as the responsible entity. A few states require the PEO to report unemployment tax liability under its clients' account number, and four states have laws that hold the client and PEO jointly liable for unemployment taxes.
Who is responsible for employment laws and regulations?
PEOs provide worksite employees with coverage under the entire spectrum of employment laws and regulations, including federal, state, and local discrimination laws, Title VII of the 1964 Civil Rights Act, Age Discrimination in Employment Act, ADA, FMLA, HIPAA, Equal Pay Act, and COBRA. In some cases, these laws would not apply to workers at small businesses without the PEO relationship, since many statutes have exemptions based upon the number of workers in a work force. Once included in the PEO's workforce, the workers are protected by these laws.
Contact us for more information or call 866.508.7361 to speak to an Odyssey OneSource representative.
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Who is responsible for workers' compensation?
Many states recognize the PEO as the employer of worksite employees for purposes of providing worker’s compensation coverage.
I am not comfortable with a full PEO or co-employment relationship, are there other options available?
Yes. Although over 90% of our clients have recognized the full PEO program to be the ultimate value, there may be situations where it makes sense to utilize similar services under an Administrative Services Outsourcing (ASO) arrangement. This program includes payroll processing and tax filing under the client's tax i.d. number, benefits administration assistance and human resource services. For those companies that do not wish to make a change with their payroll, but desire professional assistance with human resources management, help is available under a Human Resources Consulting (HRC) arrangement. Just as the name implies, this is a program of human resources consulting and training services, offered under an annual subscription.
Contact us for more information or call 866.508.7361 to speak to an Odyssey OneSource representative.
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What is an Administrative Services Outsourcing (ASO)?
ASO services can best be described as a truly outsourced Payroll and HR department for your business that utilizes your company’s tax id numbers unlike with the PEO services which utilizes the PEOs tax Id numbers in most cases. Odyssey OneSource manage it all for you; HR solutions, risk management, payroll and tax, benefits management and training and development.
ASOs offer businesses transaction-based human resources services such as support with payroll, benefits, and employee data management. Odyssey OneSource’s ASO operates as an extension of your human resources department by providing you with a complete range of HR administrative services through the efficiency of our integrated human resource information system.
Contact us for more information or call 866.508.7361 to speak to an Odyssey OneSource representative.
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Why would a business owner use Odyssey OneSource?
Business owners want to focus their time and energy on the “business of their business” and not on the “business of employment.” As businesses grow, most business owners don't have the necessary human resource training; payroll and accounting skills; knowledge of regulatory compliance; or backgrounds in risk management, insurance and employee benefit programs to meet the demands of being an employer.
HR outsourcing is a strategic move to improve the quality and flexibility of your workforce, while improving your organization’s ability to accommodate change and stay ahead of market forces.
Odyssey OneSource offers the most comprehensive and flexible solutions in the HR outsourcing industry and has a proven track record of delivering HR outsourcing services on an integrated basis with HR consulting expertise.
Contact us for more information or call 866.508.7361 to speak to an Odyssey OneSource representative.
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How long has Odyssey OneSource been in business?
Founded in 1990, Odyssey OneSource has helped pioneer the Professional Employer Organization (PEO) industry and emerged as one of the nation’s leading PEOs. From its very beginnings, Odyssey’s management team has been committed to delivering the highest quality service to its clientele. Odyssey is a privately owned company that takes pride in its ability to meet the individual needs of each client.
How does Human Resources Outsourcing (HRO) work for my company?
Through a Human Resource Outsourcing arrangement, the HRO Organization provides Human Resource management services, employee benefits, training and guidance on employment compliance, payroll services and risk management (worker’s compensation and unemployment). By transferring primary responsibility for these time-consuming and unproductive tasks to a company that specializes in these areas, you will free up your time to focus on strategic functions, which can help you build your company and improve your bottom line. Outsourcing provides cost efficiencies and access to the level of expertise necessary to strategically align your company's HR activitities and insulate your business from risk.
Because top business leaders realize that all duties performed within a given work day are not of equal impact on the company's bottom line.
As businesses grow, most business owners don't have the necessary human resource training, payroll and accounting skills, knowledge of regulatory compliance or background in risk management, insurance and employee benefit programs to meet the demands of being an employer.
Contact us for more information or call 866.508.7361 to speak to an Odyssey OneSource representative.
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Why would my business outsource HR?
By focusing your time and energy on the "business of business" and not on the "business of employment," your time and energy is spent on areas that will have the highest impact on driving revenue. Expenses are reduced as you outsource non-core functions to an organization that specializes in managing employment costs. Employees benefit from the services of a professional human resources department and expanded benefits package. It's truly a win for everyone!
Outsourcing HR has many benefits for a business. Hiring outside experts to handle non-revenue-generating activities such as payroll and payroll administration, benefits administration, tax administration, risk management, unemployment administration and workers' compensation enables a business to focus more time and energy on core competencies. HR Outsourcing is also cost-effective for any business. Many companies prefer to hire a single resource for the management of HR functions, a simpler, more efficient solution than managing many different service provider relationships. Odyssey OneSource clients receive further support from outsourcing by accessing and leveraging deep HR management expertise, on issues from tax and legal compliance to risk management and on-demand consulting.
Contact us for more information or call 866.508.7361 to speak to an Odyssey OneSource representative.
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How will this relationship affect my employees?
Employees seek financial security, quality benefits, a safe working environment, and opportunities for retirement savings. When a company works with an HRO, job security is improved as the HRO implement efficiencies to lower employment costs. Job satisfaction and productivity increases when employees are provided professional human resource services, training, employee manuals, safety services and improved communications. And in many cases, a co-employment relationship with Odyssey OneSource provides employees with an expanded employee benefits package, to include 401(k), life insurance, disability insurance, discount plans, etc.
How does Odyssey OneSource’s PEO and ASO arrangements work?
PEO
When an employer contracts with Odyssey OneSource, we enter a co-employment relationship in which both Odyssey OneSource and our client act as employers for the worker. Under the contract, some traditional employer responsibilities and liabilities are assigned to either Odyssey OneSource or the client company, while others are shared.
Odyssey OneSource assumes responsibility and liability for the business of employment, such as risk management, personnel management, human resource compliance, payroll and employee tax compliance; at the same time, we establish an employment relationship with the client’s worksite employees, while providing a complete human resource and employee benefit package. Meanwhile, our clients retain full responsibility for their daily business operations, such as product development, production, marketing, sales and service.
ASO
In our Administrative Services Organization model, we provide a comprehensive approach to many of the human resources functions supported in our PEO model. The most significant difference lies in the absence of any direct employer relationship with your staff. Your company retains 100% management and employer responsibility with Odyssey OneSource as your administrator for human resources, payroll, workers' compensation and risk management and benefit administration. Odyssey OneSource’s service plans are flexible, custom-tailored to what your company needs.
Contact us for more information or call 866.508.7361 to speak to an Odyssey OneSource representative.
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What businesses use HR outsourcing solutions?
All businesses of every size in any industry can achieve more value, quality and leverage with less effort by outsourcing some or all of their HR functions to a firm like Odyssey OneSource. They gain a new, knowledgeable HR department, or they can augment their existing HR departments. These companies gain access a source of specific HR solutions and expertise to fulfill particular short or long-term needs.
What if I already have an HR person, or department?
Odyssey OneSource can work with your existing HR team to enhance their effectiveness. One thing we know for sure is that all HR departments can use additional help for projects and consulting.
Why do I need to worry about HR? I don't have time!
HR is very important to a business, but it is not why people go into business. We understand that you didn't go into business to do HR. We allow business owners to focus on their core business, while we manage their HR. This way, we can be proactive and support the business objectives, instead of being reactive.
What problems does Odyssey OneSource help solve?
Odyssey OneSource provides a roadmap to transform the HR function from mostly tactical transactional and administrative HR processes to a greater level of strategic execution. Our services position human resources to drive top and bottom-line organizational performance by strengthening a company’s culture and human capital.
Contact us for more information or call 866.508.7361 to speak to an Odyssey OneSource representative.
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What are the costs for human resource services?
We recommend that you contact us to discuss your individual service needs and we will customize a pricing package that is fair and practical.
Our goal is to align our services with your needs and objectives. We work hard before you make any commitment to make sure we understand your business, your objectives, and your current and future challenges. Then we propose the ideal package of HR administration, consulting and benefits for your unique situation.
Contact us for more information or call 866.508.7361 to speak to an Odyssey OneSource representative.
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What makes Odyssey OneSource different from other HR Consulting firms?
Our primary differences are in two major areas:
- All of our services are completely customized to meet the expectations of our individual clients.
- We offer the broadest variety of HR services, providing a one-stop-shop for our clients’ specific human resource needs
Why should I outsource any of my human resources functions or projects?
Outsourcing any of your human resource functions or projects allows you to gain access to immediate resources and experience that are not currently within your organization. This allows you to develop effective applications that fit your specific situation and company. It also allows your organization to focus on your core mission and business, while allowing us to focus on supporting the needs of your greatest assets – your employees.
Can I easily terminate this relationship if I choose?
Yes, you are not locked into a long-term relationship. As far as terminating your relationships with employees, you remain in complete control of hiring and firing staff. Only now Odyssey OneSource will be there to ensure your legal liability is minimized every step of the way.
Does my company become part of a large group benefit plan by partnering with your company?
No. Each client company is rated on its own merits. However, this is to your advantage since you are not locked into a medical plan that is dictated by someone other than you. It is your plan; therefore, if you leave the PEO arrangement at any time, you have the ability to keep your current plan. Also, if you are not satisfied with your coverage, you have the ability to choose an alternate plan. The plan can be tailored to fit your needs; it is not a one plan fits all situation.
Contact us for more information or call 866.508.7361 to speak to an Odyssey OneSource representative.
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Does Odyssey OneSource offer 401k that can be modified by the client?
Yes. Clients can modify waiting periods, employer matching and /or profit sharing formulas, vesting schedules, etc.
Does the Odyssey OneSource 401k plan offer IRS Safe Harbor plan designs?
Yes, we offer both the Matching Safe Harbor and a Non Elective Safe Harbor plan designs
Does Odyssey OneSource offer any type of Non-Qualified Deferred Compensation program?
Yes, eligible participants can defer up to 25% of compensation not to exceed $100,000 per calendar year
Does Odyssey OneSource assist with the procurement of health & welfare benefits?
Yes, through our internal insurance agency, we assist clients with their health, dental, vision, short & long term disability, life insurance and flexible spending account programs that best suit their employees. Further, we pay the invoices and manage the deductions.
Contact us for more information or call 866.508.7361 to speak to an Odyssey OneSource representative.
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