The Long Island Forum for Technology (LIFT) continues to bring broader resources to Long Island’s estimated 3,200 manufacturers. LIFT, the New York State Foundation for Science Technology and Innovation (NYSTAR®) designated Regional Technology Development Center, recently announced its strategic alliance with Alcott HR Group. Through the alliance, Alcott’s human resources experts in payroll administration, employee benefits design and administration, tax administration and regulatory compliance will educate LIFT member companies on critical HR issues.
According to LIFT President and CEO Frank Otto, “Our recent partnership with Alcott reflects a new business model we have been developing at LIFT wherein we identify an industry need and then develop the resources to fulfill that need. While our primary mission is to support manufacturers in the commercialization of their technology, we recognize that every business has several key disciplines that must be addressed. HR is among them and probably one of the more complex areas. We believe LIFT members will benefit tremendously from having access to experienced HR professionals who can offer insight about competitive health insurance and employee benefits, are up on the latest regulatory requirements and can help businesses position themselves to attract and retain the best employees. The companies will then be able to focus their energies on product R&D, manufacturing and marketing from the knowledge they will gain.”
Otto noted that Alcott Executive Vice President and co-founder Barry Shorten has been a long-term LIFT Board Member and officer, currently serving as Secretary of the Board, who also recognized the natural synergies between the two organizations and their missions to help growing businesses succeed.
“Probably the most valuable benefit Alcott provides its clients is the peace of mind they gain in knowing that the administration of their company’s payroll, employee benefits, related tax and compliance matters are being managed properly,” said Shorten. “It frees them up to concentrate on their core competencies – confident in knowing their employee-related functions and the associated risks and liabilities are being managed effectively,” added Shorten. Alcott has a diverse client base which includes manufacturers across diverse industries. Smaller and middle market businesses that do not have adequate HR resources are among those that benefit most from the services of a PEO such as Alcott.
Alcott, is celebrating its 25th anniversary this year having enjoyed steady growth during much of the past two and half decades. It is currently expanding its Western New York office with a new facility twice the size of its former building. Alcott’s expanding client base includes more than 300 companies and their 4,000 employees across the U.S, including foreign-owned companies in Canada and South America seeking a qualified HR resource to help them establish their U.S.-based businesses and assist in their compliance with U.S. laws and regulations.
The LIFT- Alcott alliance follows LIFT’s announcement earlier this year of a partnership with the Long Island Capital Alliance. At that time, Otto stated that by helping area manufacturers gain better access to the capital markets, LIFT would, in parallel, be facilitating its mission of commercializing Long Island’s technology.