Lyons HR One of Thirty in USA to Earn ESAC Accreditation

May 25, 2010 - PRLog -- National Financial Assurance Program, Similar to FDIC, Provides Client Protection

FLORENCE, AL, MAY 20, 2010 Lyons HR announced today it has been approved for accreditation through the Employer Services Assurance Corporation (ESAC) and is one of only thirty firms nationwide to achieve this designation. EASC accreditation allows Lyons HR to provide its clients and employees with valuable financial protection through ESAC’s Client Assurance Program.

   ESAC, established in 1995, provides financial assurance and national standards of operation for the Professional Employment Organization (PEO) industry. Through its Client Assurance Program, ESAC monitors its accredited PEOs for adherence to important financial, ethical, and operational standards and provides tangible assurance backed by surety bonds of the performance of specific employer responsibilities such as payment of wages, taxes, employee benefits and insurance premiums.
   
   This financial protection program is similar to the FDIC for the banking industry in that it provides reimbursement up to $1 million per participating PEO, plus $10 million in excess coverage for all participating PEOs, for losses to clients, worksite employees, taxing authorities and insurance carriers in the unlikely event that a participating PEO defaults on its financial responsibilities. Assurance is provided through the Employer Services Trust with a major national bank serving as Trustee.
   
“We are proud to be one of only 30 PEOs in the country to have achieved this designation,” said Bill Lyons, President and CEO. “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.”

The development of this PEO industry assurance program parallels the development of similar programs such as the FDIC for the banking industry, SIPC for the securities industry, and the state insurance guaranty associations for the insurance industry,” said Rex Eley, Chairman of ESAC. “ESAC accredited PEOs are demonstrating their commitment to protecting the public, insurers and regulators, just as the banking, securities and insurance industries have done over the last several decades.

About Lyons HR
Managing employees is not why you went into business but it’s what Lyons HR is all about. At Lyons HR, they can handle one HR service for you or serve as your comprehensive HR department through a customized co-employment arrangement. Their expert HR administrators and fully-integrated state-of-the-art technology will lower benefit costs and improve employee service, freeing you to focus on the strategic issues that drive productivity, employee loyalty, and customer satisfaction.

For additional information, please contact ESAC at info@ESACorp.org or Becky Houbregs at Lyons HR:  (256)679-6661
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Lyons HR is a “Full Service” human resource company. At Lyons HR, we can handle one Human Resource service for you or serve as your comprehensive Human Resource Department. Our staff of professionals can help your business achieve bottom line results, freeing you to focus on the strategic issues that drive productivity, employee loyalty, and customer satisfaction.