Alcott announces partnership with American Fidelity Corp.The Alcott Group, the professional employer organization A professional employer organization (PEO) provides outsourcing of payroll, workers' compensation, human resources and employee benefits administration. It does this by hiring a client company’s employees, thus becoming their employer of record. (PEO) providing human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. services, announced that it has formed a partnership with American Fidelity Corporation (AFC (1) (Application Foundation Classes) A class library from Microsoft that provides an application framework and graphics, graphical user interface (GUI) and multimedia routines for Java programmers. ). AFC is the parent company of American Fidelity Assurance Company, one of the largest, private, family-owned insurance companies in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Through this alliance under Alcott HR Group, AFC will provide Alcott with additional resources to expand its national presence. Alcott operates from its headquarters in Farmingdale, NY; Buffalo, NY Western Division office; and Manhattan office. American Fidelity Corporation is headquartered in Oklahoma City Oklahoma City (1990 pop. 444,719), state capital, and seat of Oklahoma co., central Okla., on the North Canadian River; inc. 1890. The state's largest city, it is an important livestock market, a wholesale, distribution, industrial, and financial center, and a farm , OK. According to Alcott president Louis Basso, who along with Executive Vice President Barry Shorten, founded Alcott in 1986, "This new relationship will provide Alcott the ability to offer our clients a wealth of new products and services at competitive pricing achieved through even greater economies of scale." "We are excited about entering the growing PEO market and our new relationship with The Alcott Group," said American Fidelity Corporation President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Bill Cameron. "Their knowledge and background specializing in small and medium-sized employers is a great fit. Alcott's expertise in employee benefits and HR services will give additional marketing opportunities to our group of companies enabling them to provide benefits to a diversified customer base." American Fidelity Assurance Company is a third-generation, family-owned organization providing insurance products and financial services to education employees, trade association members and companies throughout the United States and across the globe. The Alcott Group serves over 200 affiliated companies Affiliated Companies A situation that occurs when one company owns a minority interest (less than 50%) in another company. Also refers to companies that are related to each other in some way. Notes: An affiliated company is sometimes referred to as a subsidiary. and their combined employee base of 4,000. The company has played a leadign role as a PEO industry leader, calling for and helping pave the way for higher standards and certification. Basso has held top executive posts for the National Association of Professional Employer Organizations Federal Legislation Committee. |
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