Lyons HR Meets PEO Industry’s Highest Standards
Alabama based Professional Employer Organization, Lyons HR has earned the accreditation of the Employers Services Assurance Corporation, a nationally recognized organization that assures that an employee leasing company or professional employer organization meets rigorous fiduciary standards, and is in compliance with all state and federal regulations.
PEOs who acheive the distinction of attaining the ESAC assurance have proven that they not only “talk the talk”, but that they have been “walking the walk”, assisting small business owners faced with a myriad of employee administration and benefits issues, employment liability and HR regulations.
“We are proud to be one of only 30 PEOs in the country to have achieved this designation. We believe it is important, especially in this business, to provide clients with the financial assurance only available as an accredited PEO of ESAC. This accreditation gives our clients peace of mind knowing that our service quality and financial stability are being independently verified and monitored”.
Bill Lyons, President and CEO,
ESAC administers an accreditation program for the professional employer organization (PEO) industry to verify compliance with government regulations and important industry standards. The performance of each Professional Employer Organization is evaluated for achieving financial and operational standards in key employer areas. Accredited PEOs are backed by bonds providing financial assurance for clients, worksite employees, insurers and regulatory authorities.
Clients of ESAC accredited PEO’s enjoy the following advantages:
- Fast 24/7 online verification that your PEO is financially stable, is in compliance with important state and federal employment laws and PEO regulations, and is owned and operated by qualified people who have a personal and business track record of meeting their obligations in an appropriate manner.
- Financial assurance for covered clients and employees through surety bonds held in trust by Regions Bank in the unlikely event of a failure of an accredited PEO.
- Review of ESAC standards & procedures by your trusted advisors, such as your attorney, CPA and insurance professional, provides an additional level of confidence in the credibility of the accreditation process and in the reliability of your PEO.
ESAC Doubles Its Financial Assurance
The services of ESAC accredited PEOs are now backed by a total of $11 million in financial assurance for accredited PEO clients, worksite employees, taxing authorities and insurers. Based on the perfect record of ESAC’s financial assurance program, the surety carrier backing this program has doubled the FDIC-type assurance from $5 million to $10 million in excess coverage in addition to the $1 million surety bond backing each individual accredited PEO.
Congratulations to company founder and President Bill Lyons for reaching this pinnacle in his company’s history. We expect we will be hearing about many more professional achievements from Lyons HR in the future.