“Guardian is rated AA+ by Standard & Poors,” says Tom Jacobs, the president and CEO of suburban Chicago-based MedHQ. “This expands the services of our PEO and will let employers who have five to 75 employees offer Fortune 500-level benefits to their employees.”
Even after the recent turbulence in the financial sector and on Wall Street, “Guardian remains in very good financial shape,” says Guardian president and CEO, Dennis J. Manning. “Guardian has avoided losses associated with both sub-prime mortgages and structured finance securities that have negatively impacted so many financial institutions.”
As a PEO, MedHQ contracts with employers to co-employ their staffs to form a co-employment relationship. In the context of the service agreement, employers continue to assign job duties, retain control over day-to-day activities, set salary rates and carry out performance evaluations; MedHQ is the employer of record for providing services such as wages, payroll taxes, benefits and human resource expertise to employer/employee related issues and best business practices.
“Through that structure, we create economies of scale, which lets us turn a small company into a big company,” says Mr. Jacobs.
