Employee Leasing

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E M P L O Y E E L E A S I N G BY – Arti Yadav Mitrika Moolri Prakash Pantola Ramendra Singh Yadav 1 Army Institute Of Management/HR301/2011

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EMPLOYEE LEASING - AN INTRODUCTION Arrangement between two firms. Subscribing firm - transfers its employees to another firm. An individual, association - agrees to lease or is leasing its employees . Leasing firm - which specializes in human resource management, payroll accounting, and risk administration. 2 Army Institute Of Management/HR301/2011

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PEO’S – PROFESSIONAL EMPLOYER ORGANISATIONS Single source provider of integrated services. Enable business owners to cost-effectively outsource the management of human resources. Use an "umbrella" method. Also help with understanding Government rules and regulations and Maintaining and reducing risk (reducing claims, improving workplace safety). 3 Army Institute Of Management/HR301/2011

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CO - EMPLOYMENT Legally, referred to as a "Joint Employer" relationship Relationship among two or more employers when each has specific actual or potential legal responsibilities to the same worker or group of workers. The Business Owner directs and controls the “co- employees” in the responsibilities of acceptable Performance and Customer Service Standards. 4 Army Institute Of Management/HR301/2011

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RELATIONSHIP 5 Army Institute Of Management/HR301/2011

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PROS CONS Zero liability of having employees No insurance hikes when accident occurs No more need to worry about government issues Stable medical benefits Save time , save money Sometimes employees feel as if they don’t belong to your company. Client is highly dependant on the PEO for their employees. 6 Army Institute Of Management/HR301/2011

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BENEFIT FOR EMPLOYEES 7 Army Institute Of Management/HR301/2011

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GLOBAL SCENARIO Predominantly USA and western world. More than 700 PEOs operating in the United States, covering 2-3 million workers. PEOs operate in all fifty U.S. states. Similar services are described in Sweden, Germany. In India emphasis on full time employment. 8 Army Institute Of Management/HR301/2011

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CASE STUDY People Management, Inc. (PMI), one of the leading employee leasing companies in the NJ, NY metro. Offers comprehensive employee leasing PMI’s superior employee leasing solutions help companies save time, thereby increasing their bottom line. PMI’s employee leasing solutions were implemented for two clients, A precious metals company and a specialty chemical manufacturer were - drowning in paperwork and administrative duties and barely maintaining their work force. Through a comprehensive employee leasing plan, PMI took on the responsibility of administering their employees so that they could get back to their core business. 9 Army Institute Of Management/HR301/2011

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Time Saver Money Saver Control Profit PMI provided a full package consisting of better employee benefits than they currently had, payroll services , and HR consulting . Today, the companies are profitable and thriving. Services are offered as a full-package program. 10 Army Institute Of Management/HR301/2011