The four areas of cost related to employee administration for all businesses:
FICA/Medicare (Social Security and Medicare)
FUTA/SUTA (Federal and State Unemployment Taxes)
Workers’ Compensation Premiums
Administrative Costs (Recruiting, Legal, Human Resources, Payroll etc.)
The first three costs are fixed. Social Security is 6.20% with a cut-off amount that changes every January. Medicare is 1.45% on all wages. Federal unemployment is .80% on the first $7,000 of wages and State Unemployment is a percentage based on an employer’s own experience. Administrative costs are not fixed and will vary from employer to employer. With OneSource, we stabilize your costs by consolidating many administrative services into one vendor. By utilizing OneSource’s services, we turn your employee administrative variable costs into one fixed cost!
Our administrative fee is assessed by using a flat administrative fee. OneSource breaks out your costs of the four areas listed above. We do not present one percentage rate known as “bundled” rating that is used by many of our competitors. Instead, we use full disclosure and itemize your costs, and we comply with all statutory payroll cut-off amounts.
Payroll and Human Resource functions are "non-profit" producing activities - let OneSource provide you with a no obligation proposal today and show you why most companies grow between 30% to 50% when they out source their employee administration.