PEO Case Study: Real Estate Agency
Real Estate: Rapidly Expanding Real Estate And Property Management Firm Builds One Culture
Thanks to organic growth and acquisition, a real estate and property management company had experienced tremendous growth in a short time. Assimilating a new culture across multiple states and locations and consolidating multiple vendor relationships inherited via acquisitions was proving difficult. The firm also faced the challenge of restructuring benefits programs to meet the needs of acquired employees and employees located in different healthcare markets. And, with employees working in multiple properties, a sophisticated job costing structure and reporting was also required.
SOLUTION
Our PEO team consolidated all employees and locations into their HRCloud HRIS platform that could be easily managed from the firm’s headquarters. The need for multiple systems and vendors was eliminated – payroll, HR, workers’ compensation insurance, employee benefits, and 401k were all on one comprehensive platform with one point of contact. Employee and manager self-service functionality were also implemented to empower both groups and support a unified company culture. The PEO team collaborated with the company’s leadership to harmonize benefits programs from the acquired companies into one program over a three-year period, based on the company’s short- and long-term employee benefit objectives. Additionally, a simplified time and attendance system was implemented for all locations, giving the finance department access to time and accurate job costing reports.
RESULT
Thanks to their streamlined HR platform and innovative benefits solution, the real estate firm gained better insight into their operations and put controls in place to manage remote locations and employees. The move to the PEO made life easier for the CFO and Operations manager as it provided a simplified approach to vendor management – reducing the number of vendors necessary from four to one. The firm minimized disruption to current and newly acquired employees and harmonized benefits with a strategic, three-year plan. And, several hours of work each week were eliminated by delivering custom job costing reports distributed directly to the finance department on a weekly basis.
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