W-2 Employer of Record (EOR) Payrolling Services
Synergy's W-2 Employer of Record Payrolling Service is a full service contractor payroll option for companies who want Synergy to become the legal Employer of Record for contract employees. As the employer of record, Synergy conducts online enrollment, pre-screening services, automatically deducts the necessary taxes from the contractor's paycheck including Social Security, Medicare, Federal, State and local taxes. In addition, Synergy covers the contractor with Worker's Comp and Unemployment Insurances in addition to offering the contractor a comprehensive package of health and welfare benefits throughout their assignment.
Service Details
Registration: Synergy completes all registration materials and fees in order to do business in each state and reporting for new hires.
Business insurances: As Employer of Record, Synergy maintains comprehensive business insurances.
Enrollment and Employee Handbook: The Synergy Online system automates the enrollment process to streamline enrollment of new contractors and ensure accuracy.
Background checks / Pre-screening: As a part of the standard enrollment process, Synergy performs background checks on behalf of its clients and any additional pre-screening that may be required.
E-Verify: Synergy completes and e-verification on each contractor to ensure I-9 verification and compliance.
Claims management: Synergy handles all unemployment claims and liabilities as well as workers compensation.
Payroll Administration
Payroll processing: Synergy performs weekly payroll processing for contract workers.
Payroll taxes and deductions: Automatic tax deductions by work state, unemployment and workers compensation deductions and benefits deductions. Synergy will also manage additional deductions such as wage garnishments.
Unemployment and workers compensation: Synergy manages claims and assumes liabilities for unemployment and workers compensation.
Timesheet management: Synergy manages the timesheet process internally or through a third party VMS system to ensure timesheets are received and approved timely in order to process payroll.
Billing and collections: Synergy manages the billing and collections process on behalf of its customers including manual or electronic format.
Direct deposit: As a part of the enrollment process Synergy supports and encourages direct deposit of payments to workers.
Payroll funding: Synergy maintains payroll float of payroll funds between the time the contractor receives payment and the time which the bills are paid by the customer.
Audits and reporting: Synergy performs all audits and reporting on behalf of our customers.
Year end reconciliation: Synergy manages the year end reconciliation of W-2 forms and inquiries.
Contractor Benefits
Synergy offers a comprehensive benefits program to W-2 contractors who meet specific conditions to promote retention and maximize overall contractor satisfaction including:
- Medical
- Dental / Vision
- Voluntary Insurance Programs
- Voluntary Life Insurance
- 401(k) Retirement Plan
- Dependent Care Flexible Spending Account
- Commuter Checks
- Employee Assistance Program
- Healthy Rewards
These cost effective benefits are offered to W-2 contractors at no additional cost to their client, and can be maintained throughout their assignment with Synergy.
Synergy Online
Synergy Online is a web based technology platform for contractors, clients and partners to more efficiently view, submit, and update information through a secure web browser 24/7. Synergy Online is a complementary technology platform to existing technologies and can integrate seamlessly through our open platform interface. Using Synergy's online resources, companies can achieve the following:
Personalized secure home page: Contractors and client administrators are able to login via the web and receive a personalized home page including access to applications, payroll information and documentation to better perform their duties.
Perform compliance testing: Synergy offers an online compliance testing solution for companies concerned about the risks of misclassification. Hiring managers and prospective contractors participate in an online survey which is scored to determine the degree of risk.
Client activation and tracking: Companies can activate new contractors online by logging in to Synergy Online and initiating the new contractor activation form. Synergy's human resource consultants review the activation information prior to initiating the enrollment process. In addition, once the activation is complete and the enrollment process begins, clients and partners have complete visibility in to the on boarding status through Synergy Online.
Contractor enrollment: Contractors can download and complete enrollment forms online for payroll and benefits purposes. With Synergy's enrollment forms, contractors only need to fill out information once and repetitive fields are auto-populated throughout the enrollment package saving time and reducing errors.
Contractor administration: Contractors can manage their information online through a secure web portal including download of all contractor documents and forms, view/update profile information, view check history data, and review individual pay stubs.
Reporting: The Synergy Online system has many standard reports that can be extended to help meet your specific needs and to better manage your contractor spend. In addition, Synergy Online provides a report writer tool which creates custom reports that may not be standard in other systems.
