Can Reviewing Your Company's Benefits Plan Save Big Bucks?

I enjoy hearing about two local companies working together.

The following is a case study from my former employer, vcfo (and their vhr group), and Penco (an Austin based general contractor)..

Austin, TX (From PRWEB) July 28, 2009 -- Penco, a rapidly growing nationwide general contractor, partnered with vcfo, a professional services firm, to get top-notch human resources expertise and services without building an internal HR department.

Penco CEO and President Bob Renneker decided to seek outside HR assistance when the company began to grow quickly. "We were experiencing significant growth, but weren't ready to commit to a full-time HR department. vhr solutions from vcfo provided the perfect solution -- we continue to benefit from their deep human resources experience working with multiple clients, while paying for only what we need."

We were experiencing significant growth, but weren't ready to commit to a full-time HR department. vhr solutions from vcfo provided the perfect solution -- we continue to benefit from their deep human resources experience working with multiple clients, while paying for only what we need.

After conducting a comprehensive HR audit, the vhr team immediately went to work to analyze whether Penco would be better served by using a Professional Employer Organization (PEO) instead of their current benefits and payroll solution. Based on vcfo's recommendation, Penco set up their own PEO, allowing them to control costs, consolidate payroll, provide a more competitive set of employee benefits, and meet other business objectives. The result was an immediate cost savings of $125,000 in benefits alone.

Over the course of the partnership, vhr has revamped the employee benefits program, performed a 401K review and update, implemented manager training and a performance management program, selected and implemented a Human Resources Information System (HRIS), and provided significant guidance on corporate restructuring. Working with the vhr team, Penco plans to continue improving the work environment for employees by rolling out an enhanced safety program this year.

About vhr and vcfo
vhr is a suite of human resource solutions from vcfo, a professional services firm that offers a customized team model to assist companies with finance, accounting, recruiting and human resources needs. vcfo uses a custom approach to create an optimal, flexible team of highly trained vcfo employees to address your particular requirements. Not only do you get the right level of resource, but you pay only for the time you need it.

As trusted advisors to the CEO and management team, vcfo team members across the country use our original platform, industry best practices and proven methodologies to help solve the most complex operational business issues. vcfo is based in Austin, Texas with regional offices in Dallas, Denver and Seattle. For more information, please visit www.vcfo.com.

About Penco
Penco is a nationwide general contractor and has served the renovation and catastrophe restoration needs of multifamily owners and management companies since 1970. Penco has successfully produced over 15,000 projects and simultaneously works on more than 100 projects in dozens of cities across the nation every day. To learn more about Penco, please visit www.pencoinc.com.