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An Introduction to Worker’s Compensation
Once this term was also recognized as "workman's comp" for short, the term has been changed to a more politically correct, androgynous phrase. Worker's compensation is essentially an insurance program, consented by law, which protects employees if they become unwell or wounded while carrying out the duties of a job.
Benefits of Workers Compensation Insurance
Employee has huge benefits when it comes to workers compensation insurance. Depending upon the exact situations of the accident or any fatal injury, employee may be qualified for one or more benefits as follows:
PEO (Professional Employer Organization)
A PEO (Professional Employer Organization) provides outsourcing of work compensation human resources and administration of employee benefits. It does this by hiring employees from the client company’s, in turn becoming their employer of record. PEO’s will hire them back, under the contract agreements. This practice of hiring them on contract basis is known as co-employment, employee or staff leasing.
Why HR outsourcing gaining weight?
Human resource outsourcing is extremely popular and well accepted area in any established organization. One of the most simple reason why HR outsourcing is gaining important these days is it act as a cost-saving mechanism. Today companies know that HR outsourcing is a necessary business device not only to cut shot cost, but also bring value to their enterprises.
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- World Information Service by Ibrahim Machiwala (Lodhi)
