Below, we’ve answered some questions about our rate structure. We encourage you to ask any staffing company the same questions before hiring them, as each answer will influence the rate you pay:
Q: Are you publicly traded?
A: Premier is privately held and controlled, meaning less red tape and more ability to make quick decisions that benefit your processes, programs, and ultimately your business.
Q: What percentage goes to corporate?
A: We don’t assess a corporate fee structure onto any of our locations.
Q: Is your company franchised?
A: None of Premier’s locations are franchised.
Q: What’s the franchise fee?
A: There are no franchise fee allocations. With others, you can pay as much as a four to eight point franchise fee on top of cost plus profit margin.
Q: What’s your experience rating?
A: Most people don’t know that experience rating (e-mod, x-mod) is a variable cost from provider to provider. Many factors determine an experience rating and it can go up on an annual basis but takes several years to trend back down. Our experience rating is well under the industry average, meaning our risk mitigation program works and we can save our clients money. Experience is important because it determines the workers comp premium a company pays. On a $6 rate, a company with 1.65 (165% e-mod) would pay $9.90 per $100 of payroll, while a company with .45% would pay $2.70 per $100 of payroll. What do you want to be charged?
Q: What’s your unemployment rate?
A: Unemployment rates are often misunderstood. Not all are the same. In fact, they can go up and down based on the service provider and how the provider manages their unemployment program. We work very hard in every state to keep our rates low.
Q: How do you manage it?
A: We employ several unique methods to keep our unemployment rates competitive and low, including a triangulation model. Let’s meet and discuss our methods in detail.
Q: What’s your profit margin?
A: When we meet, we promise to be completely transparent. We will break down our rate completely, showing you every number that makes our rate and the “why” behind each number, including our profit margin. Together we can determine a rate that will be mutually beneficial and allow both of us to flourish.