Posted in Management Best Practices
Taking full effect in 2014, the Patient Protection and Affordable Care Act (PPACA or ACA) is already bringing big changes to the way you offer health insurance to your employees.
Here are a few creative staffing strategies to help you stay compliant, productive and profitable in light of these changes:
· Bring on temporary employees, instead of making full-time hires. Temporaries are employed by the staffing company, not you. As a result, we are responsible for providing health care benefits to these individuals. Contingent workers are ideal for:
o Supporting rapid growth. Supplement your team with qualified temporary specialists until you're certain the upswing in business is permanent.
o Short-term and seasonal needs. Get your work done, without affecting your headcount under the PPACA. Once your busy period is over, you can easily release these workers.
o High turnover positions. Gain more flexibility in hiring and termination, without the overhead of managing compliance for these workers.
Whether your organization is large or small, it's a good idea to meet with your staffing partner to discuss the impact the ACA will have on your business. Together, you can develop a proactive strategy to minimize the Act's impact on your bottom line (from increased benefits cost), while remaining compliant with upcoming changes to the law.
Looking for more information on the ACA? Check out these resources:
PrideStaff Live Webinar Archives
This site covers key provisions and contains links to a number of articles customized for businesses of all sizes.
Updated regularly, this site contains essential, albeit technical, information about the tax implications of the PPACA.
How can PrideStaff help you navigate the ramifications of the ACA?