New York City
Century Management is a premier property management firm located in New York City. They had one long-term employee that took care of all their HR, and so they had never worked with a PEO.
Their HR person was planning to retire, though, and they had several concerns as they looked for a replacement. For one, they wanted to ensure compliance with NYC’s strict laws and regulations. In addition, their workers and families were a top priority and as their plan’s costs kept rising, they didn’t feel like the benefits were giving their workers the best value.
CFO Mike Catazaro came to PEO Spectrum for help finding a PEO that would fit their needs, and within 5 days we were able to give them an analysis of their current plan and how it compared to 5 different options.
PEO Spectrum identified the top two plans that gave Century Management the rich benefits they wanted for their employees. We provided them with an analysis of how these plans compared to their current situation. The PEO that Century Management ultimately selected gave their employees richer plans with more flexibility and saved the company $125,000 a year. In addition, putting HR in the hands of outside experts assured them that the company was compliant with the many city, state and federal rules and regulations.
Within two months, the company was fully transitioned to the new PEO, and the result was a win-win for employer and employees.