General Employment Enterprises, Inc.'s Ohio Subsidiary TRIAD Joins Bureau of Workers' Compensation Retro Group
NAPERVILLE, Ill., May 27, 2014 /PRNewswire/ -- General Employment Enterprises, Inc. (NYSE MKT: JOB) (the "Company" or "General Employment") announced that as a result of increased costs related to its workers' compensation during the first six months of 2014, the Company's Ohio-based TRIAD Staffing subsidiary, which provides superior safety training and injury protocol, will join the Ohio Bureau of Workers' Compensation (BWC) retro group retrospective rating program administered by Spooner, Inc. and sponsored by the National Management Association for the 2014 BWC policy year, which shall be July 1, 2014 through June 30, 2015.
Deborah Santora-Tuohy, President of TRIAD Staffing, stated, "TRIAD is committed to safety and loss prevention for its employees and its clients' employees. As a part of this retro program, Spooner will provide energetic and effective claims cost control including obtaining, where appropriate, independent medical exams, negotiate settlements with claimants' attorneys, assist the Company to identify temporary return to work assignments for claimants and recommend claims management actions. We have not been able to increase billing rates due to the competitive nature of our clients. Having this group in place will enable us to continue our great service at a reasonable price for the market."
"Spooner Incorporated set the standard for managing workers' compensation in 1975. Our proactive philosophy and best practices focus on preventing excessive compensation and medical costs and assisting employees in early, healthy return to work," commented Andy Lembach, VP of Business Development of Spooner, Inc.
Andrew Norstrud, Chief Executive Officer of General Employment, commented, "We look forward to TRIAD joining the Ohio Bureau of Workers' Compensation group and seeing a significant reduction in our workers' compensation cost, starting July 1, 2014. This is a great opportunity to get rebates back from the state which will allow us to continue to provide the service our customers expect, without having to significantly increase our prices in 2015. We are working hard to clean up our current issues related to cost and create a solid foundation that will allow us to return to profitability as we implement our growth strategies."
About General Employment
General Employment Enterprises, Inc. was incorporated in the State of Illinois in 1962 and is the successor to employment offices doing business since 1893. The Company provides staffing services through a network of 22 branch offices located in eleven states. The Company operates in two industry segments, providing professional staffing services and light industrial staffing services.
The statements made in this press release that are not historical facts are forward-looking statements. Such forward-looking statements often contain or are prefaced by words such as "will" and "expect." As a result of a number of factors, the Company's actual results could differ materially from those set forth in the forward-looking statements. Certain factors that might cause the Company's actual results to differ materially from those in the forward-looking statements include, without limitation, those factors set forth under the heading "Forward-Looking Statements" in the Company's annual report on Form 10-K for the fiscal year ended September 30, 2013, and in the Company's other filings with the Securities and Exchange Commission. The Company is under no obligation to (and expressly disclaims any such obligation to) and does not intend to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
SOURCE General Employment Enterprises, Inc.
Released May 27, 2014