ESAC accreditation is the gold standard of the PEO industry and provides valuable industry services in two primary areas:
Building Credibility and Trust for the Industry
Customers and regulators of industries that aggregate large amounts of cash expect such industries to demonstrate reliability through credible self-regulatory processes. Examples of such processes include the FDIC for the banking industry, SIPC for the securities industry and state guaranty associations for the insurance industry. Although highly-publicized failures have occurred in each of these industries, their respective self-regulatory financial assurance programs have repeatedly proven their ability to protect their customers as well as their industry’s reputation.
ESAC’s accreditation and Client Assurance Program provide similar tools and benefits for the PEO industry and demonstrate the industry’s commitment to self-regulation and financial assurance. ESAC’s published standards and procedures provide clear guidelines for evaluating a PEO’s adherence to important financial, ethical and operational standards and give prospective clients, insurers, financial institutions and regulators strategic guidelines needed to identify reliable PEOs.
Expanding Marketing Potential for all PEOs
As the PEO industry grows and an increasing number of PEOs become covered by ESAC’s accreditation and financial assurance programs, the overall credibility, acceptance and reputation of the entire industry will be raised to a new level.
All PEOs will benefit by realizing the full potential of the substantial market penetration that comes with being accepted as a mature, trustworthy service industry by the business public and by the trusted professional advisors that strongly influence business decision making.
Review additional marketplace advantages for accredited PEOs.