For both small and large businesses, the costs of paying for unemployment can become very expensive and burdensome when not correctly managed. While some companies lack the understanding of how to properly budget for unemployment costs, others lack the training and expertise needed to represent themselves at hearings or manage their unemployment claims. By hiring an unemployment solutions specialist, a business can better manage their unemployment claims, spending, and appeals. To begin outsourcing unemployment, a business first needs to understand the costs of unemployment and the benefits to outsourcing.
The Costs of Unemployment
While some businesses do not factor in the costs of unemployment into their monthly or yearly expenses, an unemployment claimant can cost a company quite a significant amount of money. The average individual collecting unemployment in the United States receives approximately $5200 dollars from their claim. This high cost of unemployment of course comes back to United States employers and can become quite expensive if unplanned for. Using unemployment cost management services that specialize in unemployment solutions can help you plan ahead for these unemployment costs, as well as win more claims.
The Benefits of Outsourcing
If you have considered outsourcing unemployment cases for your own business, you may be surprised at the many benefits available. Not only will you save yourself the hassle and frustration of dealing with unemployment cases yourself, but you may also save yourself other valuable assets. Outsourcing your unemployment can lead to faster time turnovers and case resolution, getting things done in a quick period of time while helping you move forward with your other business concerns. Working with an unemployment solutions specialist can also lead to higher win ratios in unemployment cases, meaning you have a higher cash savings per case.
Outsourcing for your unemployment needs can give you, as a business owner, the reassurance that you are doing everything in your power to resolve unemployment cases to the best of your ability. Look for an outsourcing company that offers you assistance in some of the following areas:
- Information Technology
- Claims Management
- Representation at Hearings
- Board-of-Review Appeals
- Auditing, Tax, and Unemployment Planning
- Educational Information or Training regarding Unemployment
- Management of your Accounts
Stay Involved and Informed
While you can outsource unemployment tasks to outside experts, it is important to stay involved and informed during the process. A good unemployment solutions management company will keep you in the loop every step of the way. Many companies who help businesses with outsourcing unemployment will offer their clients scheduled reports with the important information laid-out in an easy to read format.
The reports created by your unemployment solutions company, such as Employers Edge LLC, will not only help you keep track of unemployment expenses, but also help you to understand the process every step of the way. Working closely with your outsourcing company will allow you to target the areas of high cost and find solutions to illuminate or reduce those costs. These reports can now be delivered in electronic form or delivered to you in a timely manner by mail. When an unemployment claim closes, your outsourcing company should be in touch with you immediately to keep you informed on the final decisions and options for moving forward.
Employers Edge LLC offers business to business solutions including but not limited to unemployment cost control, claims processing, employment verification, income verification and more. Visit our website here for more information: http://www.employersedge.com. Using unlimited cloud storage is a great way to back up any and all of your company’s important documents.