Business Services Industry
Resolve's Workers Compensation Renewal for 2008 Favorable
Business Wire, Dec 31, 2007
CINCINNATI -- Resolve Staffing, Inc. (OTCBB:RSFF) announces today that the Company has renewed its national workers comp plan for 2008 with favorable terms.
Resolve has renewed its national workers compensation program with American International Group (AIG) for 2008. Due to Resolve's aggressive risk management program and strategic relationship with AIG the renewal includes a 20% discount, versus 2007, in overall rates. This is an approximate $1 million in savings which will have a positive impact on gross profit for 2008.
Ron Heineman, CEO stated, "Renewing our national workers comp plan under these favorable terms shows the progress and growth Resolve has achieved in 2007. With a 20% reduction in rates, we expect this progress to result in improved gross profit. With Resolve's national workers compensation program and national first dollar fully indemnified Health care program, Resolve will be able to provide HRO services throughout all 50 states through our various divisions and brands. Moreover, this will help to minimize the Company's workers comp premiums and healthcare reserves, which have caused historical fluctuations in profitability due to unpredictability and aggressive growth. Resolve has quickly become a national Human Resource Outsourcing (HRO) company and we have the corporate infrastructure to handle continued growth. Consistent revenue growth reflects our strengthening position as a premier human resource company."
About Resolve HR
Resolve HR (Resolve Staffing, Inc.) is a national provider of Human Resource Outsourcing (HRO) Services with offices reaching from New York to California. The Company employs over 6,000 temporary employees per week and, with the merger with ELS (www.elshr.com), Resolve now manages a PEO payroll of over 12,000 worksite employees in over 40 states with operations and service centers throughout the country. Resolve Staffing now provides turn key human resource management services to help its small-business clients tackle increased complexities associated with the employment aspect of their businesses. These services include payroll processing, employee benefits and administration, workers' compensation coverage, effective risk management and workplace safety programs. Resolve also provides a full range of supplemental staffing and outsourced solutions, including solutions for temporary, temporary-to-hire, or direct hire staffing in the medical, trucking, garment, clerical, office administration, customer service, professional and light industrial categories. For additional information on Resolve Staffing visit our website www.resolvestaffing.com.
Statements contained in this news release, other than those identifying historical facts, constitute 'forward-looking statements' within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.
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