RISK MANAGEMENT

With the help of a PEO provider, you can find the talent that your company needs in a timely and efficient manner.

ProSourceSolutions’ Risk Management Services

ProSourceSolutions’ risk management services are designed to address and mitigate a wide range of risks that businesses face daily. Here’s how we ensure the safety, compliance, and resilience of your business operations:

Managed System for Accident Prevention

Ensuring proactive accident prevention with structured protocols.

Commitment to Safety and Compliance

Prioritizing workplace safety through strict regulatory adherence.

Customizable Web-Based Training (WBT)

Flexible web-based training tailored to your needs.

Incident and Accident Analysis for Continuous Improvement

Data-driven insights for continuous safety improvements.

Personalized Risk Management Strategies

Managed System

ProSourceSolutions has a managed system designed to prevent accidents and lower your risk. This system involves training, strong return-to-work initiatives and inspection of work places to help keep your Workers’ Comp Insurance costs down.

Commitment to Safety

ProSourceSolutions is committed to providing a safe workplace for all employees. Preventing work related illness and injury is our primary goal.

Our early return to work program provides opportunities for an employee who is injured on the job to return to work in a reduced or limited capacity. The early return program is designed to return a valuable member of your team back to the work force in a diminished physical capacity, yet with emphasis on team productivity.

Accident Prevention

Conducting effective incident/accident analysis is one of the most important things you can do to reduce your company’s workplace injuries and illnesses, reduce workers’ compensation costs, and help improve your company’s bottom line

Incidents and accidents usually result from failures in or lack of accident prevention procedures. One must learn from these failures and use them proactively to improve safety and loss prevention programs and policies.

The only way to prevent an incident from recurring is to find out what caused it. Sometimes, the root cause is not always easy to see, so you should always start by conducting a thorough, objective incident analysis. You can then take corrective action to help ensure that the incident does not happen again

How Does Outsourcing Risk Management
Help Your Business?

Additional advantages include improved compliance with industry regulations and the freedom to concentrate on core business activities.

This allows your business to grow and innovate while ProSourceSolutions safeguards your operations against potential risks.

 

Here are eight ways outsourcing your risk management to ProSourceSolutions helps your business.

Expert Risk Assessment and Strategy Development
Quick Adaptation to New Threats
Regulatory Compliance
Focus on Core Business Functions
Cost Efficiency
Enhanced Business Reputation
Strategic Decision Making
Peace of Mind

Customizable Web-Based Training (WBT)

When you engage our services, our team provides a series of online training modules designed to help businesses effectively educate and train employees on key risk-related topics across a range of industries. These topics include, but are not limited to:

Workplace safety protocols (e.g., OSHA compliance)
Anti-harassment and discrimination policies
Payroll and timekeeping accuracy
Proper employee classification (W-2 vs.1099)
Industry-specific regulatory training (e.g., HIPAA for healthcare

Our training sessions are fully customizable. We work closely with you to tailor the content to your specific operational needs, legal requirements, and internal procedures. This personalized approach makes our training significantly more effective than generic, one-size-fits-all solutions.

Industries That Benefit Most from Risk Management Services

Industries that would benefit from our risk management services include:

Construction companies
Healthcare and other related medical facilities
Manufacturing services
Hospitality Industries
Professional services (law firms, real estate agencies, etc).

…and more

If you require more information about the industries we service and how our risk management services are tailored to meet specific needs, feel free to reach out to us for a consultation.

Got questions?

We’ve got answers.

A good rule of thumb is to conduct payroll risk assessments at least once a year, or more frequently if certain factors warrant it. These factors may include changes in legislation, industry regulations, internal company structures, or updates to your payroll systems. Regular assessments allow you to identify compliance gaps, mitigate costly errors, and most importantly, ensure alignment with evolving state and federal regulations.

By outsourcing your risk management operations, you’re placing them in the hands of experts, professionals who are highly specialized in regulatory changes, updated processes, and industry-specific regulations. From finance to tax laws and compliance standards, you can rest assured that with expert oversight, outsourcing your risk management operations minimizes the risk of non-compliance and the penalties that come with it.

Yes, we offer customized risk management plans. As your co-employer, our risk management services are tailored to meet the needs of companies across a wide variety of industries. We prioritize working closely with each client to develop proactive strategies that minimize liability by ensuring compliance with applicable laws.

While payroll compliance requirements may vary across different jurisdictions and organizations, there are some common compliance risks that some companies may find challenging to implement in-house without the right expertise.

Common payroll compliance risks include:

  • Failing to stay current on rules and regulations. Regulations such as due dates and withholding rates, and relevant forms change frequently. Without regular reviews, it can lead to late or incorrect filings, jeopardizing an organisation’s credibility. Furthermore, agencies like the IRS will impose monetary penalties and charge interest on organisations that fail to accurately file payroll tax and other required reporting on time.
  • Inaccurately classifying employees and independent contractors, which in turn impacts payroll tax withholdings and contributions. Over time, this can lead to severe consequences, including criminal charges for willful misclassification.
  • Incorrect wage and overtime calculation, wherein failure to accurately adhere to minimum wage and overtime pay laws will result in not compensating workers appropriately. Likewise, the failure to register new hires correctly can affect the accuracy of withholding and payroll tax calculations.
  • Improper classification of exempt vs. non-exempt employees. Misclassifying employees under the Fair Labor Standards Act (FLSA) can result in unpaid overtime liabilities and expose the organization to fines and penalties from the Department of Labor.
  • Inaccurate record-keeping such as not maintaining detailed records of hours worked, wages paid, and withholdings, is a compliance risk.

In essence, general noncompliance can result in monetary penalties while intentional noncompliance can lead to more severe penalties, including criminal charges.

Simply put, payroll risk assessments help businesses avoid IRS penalties by ensuring that their payroll processes are completely accurate before they lead to severe compliance issues. By proactively addressing common risks, organisations can ensure proper recordkeeping takes place internally, hence reducing the likelihood of fines and penalties.

Frequent payroll risk assessments help businesses by:

  • Identifying potential compliance errors.
  • Addressing common payroll errors.
  • Enhancing recordkeeping procedure and payslip disbursements.
  • Promoting proper tax and entitlement management.
  • Reducing the risk of penalties due to noncompliance.

Start Mitigating Risks Today with ProSource Solutions

Get a customized risk management plan for your organization today. If you’re ready to take the next step in protecting your organization and the well-being of your employees, contact us to schedule a free consultation and discover how our approach can help safeguard your workforce and support long-term success.

PEO Business Impact Value:
TIME and MONEY

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