What does Employee Leasing Company mean? Read on to discover the definition & meaning of the term Employee Leasing Company - to help you better understand the language used in insurance policies.
Employee Leasing Company
An organization whose business it is to furnish workers to another entity (usually referred to as the client company) on a long-term basis. Organizations in this industry are referred to by a number of descriptive names. In addition to employee leasing company, commonly used labels include labor contractor and professional employer organization (PEO). The popularity of this type of staffing solution is driven by potential benefits to the client that include reduced administrative costs, access to risk management services like safety and loss control, and higher-quality, more cost-effective employee benefits.
We hope the you have a better understanding of the meaning of Employee Leasing Company.