Midyear Business Check-In: Staying Compliant and Competitive in Uncertain Times
As we approach the midpoint of the year, it is a great time for business owners to evaluate their compliance strategies and overall business health. Rising costs, workforce challenges, and economic uncertainty continue to impact businesses across industries.
In this month's newsletter, we explore how partnering with a professional employer organization (PEO) like Group Management Services can help you navigate tough economic conditions, manage workers’ compensation rates, and support skilled trades businesses in building long-term stability.
Navigate Economic Downturns with the Support of a PEO
Economic downturns can put intense pressure on businesses, especially small and midsize companies, by driving up expenses, complicating workforce management, and increasing compliance risks.
In uncertain times, partnering with a certified professional employer organization (CPEO) like Group Management Services can make all the difference. GMS’ bundled services simplify HR management, mitigate risk, improve benefit offerings, and ensure regulatory compliance, all within a scalable framework designed to support businesses through every economic cycle.
🔷 Learn how a PEO can support your business through economic challenges and strengthen long-term success: https://bit.ly/3SAqhWB
What Employers Need To Know: Ohio Workers' Compensation
Discussed in this episode of The PEOples Podcast are the intricacies of Ohio's unique Workers' Compensation system. Exploring the state's monopolistic approach to workers' compensation and the nuances of being self-insured in Ohio. Workers' compensation insurance is a universal requirement for all Ohio businesses, regardless of size. Even if a business has just one employee, it must carry this essential coverage, making it one of the most universal aspects of running and owning a business.
The PEOples Podcast, hosted by Alyse Kimble, PHR and special guest Stacy Vadnal , will be a valuable resource for SMBs seeking to learn more about PEOs and make informed decisions about their business needs.
Listen on Apple Music and Spotify: https://bit.ly/3XaTBpy
How PEOs Can Help Skilled Trades Businesses Tackle Economic Challenges
Skilled trades businesses are no strangers to economic pressures, including rising costs, workforce shortages, and regulatory demands. As these challenges grow, many are turning to PEOs for support.
🔷 This blog explores how PEO services can help skilled trades companies strengthen operations, manage risk, and stay resilient through uncertain times: https://bit.ly/4dmudnr
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Stay Up to Date with Industry News
Colorado lawmakers introduced Senate Bill 318 to amend the state's AI law, extending implementation timelines and exempting small businesses, with the revised law applying to companies with over 100 employees by 2029.
Govener Gretchen Whitmer has voiced concern that potential Medicaid cuts could lead Michigan residents to lose their health care and hospitals to close.
The IRS recently announced a boost to the maximum annual amount that individual employees may contribute to health savings accounts while enrolled in a high-deductible health plan for 2026, which will be set at $4,400, up from 2025’s limit of $4,300.
To reduce government spending, the House of Representatives passed a reconciliation bill with significant cuts to federal employee retirement benefits.
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