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An industry focused provider like Aspen HR offers PEO services tailored to suit the unique concerns of alternative investment firm employees. This often means a large emphasis on employee benefits packages.
Our savvy benefits experts have created benefits packages tailored to the needs of the principles and partners of alternative investment firms for years. In fact, we can access a variety of plans not even available to other PEOs.
For example, our Massachusetts venture fund client, a provider of seed-to-growth stage funding to several business sectors, had established disability and life policies for their execs and employees, but could not secure group plans rich enough to meet their needs. Instead of a group plan, they bought multiple individual plans which was extremely costly and involved laborious underwriting.
When they contacted Aspen HR, our skilled benefits specialists found the firm group and voluntary life plans that exceeded their previous plans’ payout level and saved them $95k per year, without the tedious underwriting process. Not only that, but we were able to find them a long-term disability plan they are very pleased with.
Our complete package of PEO services for our client also included HR management, compliance support, and more. Below, we review some of our other PEO services for alternative investment firms.
After we help find benefits packages tailor-made for an alternative investment firm’s needs, we are also there to handle the rest of the details. That means answering questions during open enrollment, managing the enrollment process with your team, handling invoicing, and troubleshooting claims issues for employees and executives, should they arise.
Things move quickly when you work for a hedge fund. Employees don’t have time to speak to a call center representative or wait for a response to their inquiry. That’s why hedge fund and other alternative investment firm employees appreciate Aspen HR’s white-glove service model. Not only does our service efficiently handle the management of a broad array of human resources services, such as hiring, background checks, policies and procedures, personnel onboarding, behavioral and talent assessment, and much more, but we deliver these services with concierge-level, real-time service. We take over HR management for you, so your team can focus on doing what you do best.
Another one of the services we perform for alternative investment firms is payroll administration. When they use a PEO, private equity firms, hedge funds, and venture capital companies can’t use just any payroll outsourcing service. They need a provider that is familiar with the unique incentive structures often used at these firms. Aspen HR has the knowledge and experience required to process these types of payments.
Our modern web-based payroll platform, Aspen Cloud, allows team members to easily and quickly submit payroll, and review status in real time while we take care of payroll processing and tax filing for you. Our white-glove payroll service means you’ll never have to worry about payroll tax calculations or deadlines.
Employment laws are complex and rapidly changing. Without a dedicated HR team, it’s tough to stay compliant. That’s why a PEO for alternative investment firms can be an essential tool in legal compliance matters. Aspen HR’s experts make it a priority to stay on top of changing employment laws in all 50 states. Rest assured that our PEO services will help you stay in compliance with labor laws so you can focus on your core competencies.
Operating across California and North Dakota, a life sciences venture fund was grappling with service issues from their then HR provider, which was a large national firm. They thus needed a new PEO partner that could manage their remote employees, who were scattered across multiple states.
Aspen HR’s white glove service model caught their attention, and the venture fund went on to make the switch. We then developed custom offerings for the firm, with which we proceeded to support their human resource operations.
The subsequent results were remarkable – as we raised their employee satisfaction rate and saved the company over $150k.
A California-based private equity firm was in the process of acquiring a home infusion company in Texas. During the due diligence phase, though, the buyer expressed concerns regarding potential HR risks on the side of the home infusion entity. It then sought Aspen HR’s expertise to evaluate the risks.
Aspen HR successfully identified multiple issues, including inefficient manual HR processes, invalid non-compete agreements, outdated forms, and job misclassifications. Consequently, the buyer engaged Aspen HR to implement corrective actions post-acquisition, making us the company’s long-term HR partner of choice.
When you’re selecting a PEO for your hedge fund, venture fund or private equity fund, will you choose a provider who may never have served an alternative investment firm, or one with years of experience in your industry? Aspen HR has provided PEO services for alternative investment firms of all types and our management team is well versed in the issues and concerns – like specialized benefits packages – that are critically important to your employees and executives.
And, Aspen HR is where you need us to be. We have offices in the largest financial services hubs in the United States – New York, Los Angeles, and San Francisco – plus locations in many other key financial centers across the country, including Boston, Chicago, Dallas, Denver, and Seattle, among others.
When your private equity firm is ready to get started with Aspen HR, reach out with questions to take the next steps. It’s easy to get started quickly, with our customized suite of PEO services. Contact us today!
