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Professional employee organizations (PEO’s) are becoming an increasingly mainstream way to help small to mid-sized companies manage their payroll and human capital costs. When a business begins a relationship with a PEO they, in essence, become co-employers of the employees. The original business continues to hire, fire, gives raises, bonuses and provide benefits. The PEO handles the administrative aspects of the human resources including cutting the paychecks, making the tax deposits, providing access to worker’s compensation and healthcare insurance, and to 401(k) retirement planning programs. This model provides high-quality human resource management to all sizes of businesses that could not cost-justify having a professional HR manager on staff, or to be able to offer quality benefits programs.
Brian Bonar saw the future of the PEO while working for Imaging Technologies Corporation (ITEC) in San Diego, CA. ITC is a company that produces and distributes various imaging products such as laser printers, plotters, copiers and the related software. Looking to expand the market share, ITEC sought to add various administrative services to its portfolio of products. While the leap from selling copiers to providing human resource management services may seem like a leap, it does provide a way to further service existing customers, while adding a new tool to attract new clients. Brian Bonar is a well known CEO and leader in his field.
Bonar had a long-term record of success in the office imaging business having worked for IBM for over 17 years before working for a series of independent companies such as QMS, Rastek Corp., Adaptec, Bezier Systems, Inc. before coming to ITEC. With the acquisition of SourceOne Group, Inc a Virginia-based PEO, Bonar steered ITEC’s strategy in the employee management field in order to help their customers compete with larger companies. As their customers grew, so would sales of their tradition product lines.
Intrigued with the concept of PEO’s Bonar left ITEC to form his own PEO, Dalrada Financial also based in San Diego, CA. Dalrada provides their client’s access to the tradition menu of PEO services in addition to a robust set of insurance and retirement benefits, and tax reduction strategies and safety inspection and compliance programs. Bonar also founded the PEO Trucept, Inc., where e is the chairperson and Chief Executive Officer.
Education is an important component of Bonar’s success. As a graduate of Strathclyde University in Glasgow, the native Scot was awarded a Bachelor of Science Degree in Mechanical Engineering. Expanding his skill set led Bonar to receive an MBA and then Ph.D. in International Business Development Studies from Stafford University in England. In addition to his many years in the laser imaging and PEO fields, Bonar recently invested in two restaurants in San Diego, the Grand Cuisine at Bellamy’s and the Ranch at Bandy Canyon.