Unemployment tax is a highly specialized niche at the intersection of finance, law, policy, tax, payroll, and HR. As states enact complex laws and regulations, it has become exponentially more difficult to manage unemployment tax costs. It is unrealistic to expect someone to manage a company’s unemployment claims effectively while juggling other responsibilities. The truth is, it is impossible for anyone to manage unemployment tax costs as effectively as a third party whose sole focus is unemployment cost reduction.
A whopping 75% of employers are overpaying for unemployment costs. That reflects the complexity of unemployment tax management as well as the high frequency of overcharges and errors. Considering that every dollar, whether warranted or unwarranted charged against an employer’s state unemployment account must be reimbursed to the state agency dollar for dollar; the cost to an employer improperly handling an unemployment claim can become quite significant. A third-party provider can provide the time, specialized expertise, and diligence required to optimize your unemployment tax costs.
The good news is there is nearly always room for improvement. Employers who switch from in-house to a third-party provider can realize significant improvements to their claims management program, including financial benefits.
Benefits of outsourcing with UTMC:
- Free up valuable time and resources
- Open the door to valuable credits and refunds from overpayments
- Enjoy improved compliance and lower unemployment insurance costs
- Pay fewer unemployment claims with UTMC’s experts working with your staff to handle employee discipline and separations correctly
- Stop tracking legislative and policy updates for unemployment insurance in your state(s) of operation—UTMC is on top of the latest updates, requirements, and procedures in every U.S. state and territory
- Gain instant access to expertise for unemployment concerns across the employee lifecycle
- Get better results, faster, because we know how to work within the system
- SIDES integration technology helps ensure full compliance and most effective claim avoidance