10 Problems a PEO Can Help You Solve
PEOshop.com works closely with our customers to ensure you get the right
PEO at the best possible price.
1. Time
PEO’s
remove non-productive tasks that take away time and resources so you can
focus on bottom line activities such as strategic planning, marketing,
and customer service. Could you make more money if you had time to work
your business? Time is money in business.
2. Cash Flow
PEO’s
improve your cash flow by integrating most of your employee cost-centers
into a single cost factor per $100 of payroll; including employer
matching FICA, FUTA, SUTA, Work Comp, Administrative Overhead, and
employee benefits. Your cash flows in “real-time” right along with your
business income.
3. Workers' Compensation
PEO’s
make buying and maintaining work comp easier than ever. No more BIG
down payments. No more year-end premium audits. Because your work comp
is built into your PEO factor, you only pay for the insurance you need
as its utilized. And best of all, PEO’s have BIG buying power that can
save you money by using their insurance policies.
4. Employee Benefits
PEO’s
have many “turnkey” benefit plans in place for your employees. Imagine
instantly adding a 401(k) plan, a Section 125, Group Dental, Life, and
other valuable benefits to your business without spending a fortune.
And best of all, the PEO’s manage the programs, payroll deductions, and
benefit records- making employee benefits easier than ever to provide
and manage.
5. Government Compliance
PEO’s
simplify all the rules and regulations associated with employing
people. They can assist you in complying with all federal, state, and
local laws and statutes. PEO’s provide you with legally required
employee forms and paperwork. They even maintain and store your
employee files.
6. Human Resources
PEO’s
act as your own personal HR Department, assisting with employee
handbooks, job descriptions, record management, supervisory training and
conflict resolution. Do your business practices and policies protect
you from employee lawsuits? PEO's provide a reliable source to get your
employee-related questions answered by HR professionals?
7. Operating Leverage
PEO’s
create operating leverage for businesses by creating a fixed cost for
employing people. Rather than having to increase your internal
investment in human capital and equipment to keep up with external
growth, the PEO provides a predictable mechanism that allows you to
increase profits at a greater rate than internal costs. This is
achieved through outsourcing to a PEO.
8. Employee Turnover
PEO’s
reduce turnover be establishing better systems, policies and benefit
packages. Turnover can cost your business thousands of dollars a year
in lost production and employee re-training. A good PEO will help keep
your employees loyal and motivated. And you spend less on training.
9. Risk Management
PEO's
can really benefit businesses with work comp experience modifiers above
1.00. They can offer sound advice for improving workplace safety and
preventing claims from occurring. They will proactively manage your
comp claims and work with you to reduce claim costs and investigate
potential fraudulence.
10. Payroll & Taxes
PEO’s
solve each of these problems by becoming a co-employer with you. The
PEO issues paychecks, W-2’s, direct deposits and tax deposits. They
assume your tax liabilities and responsibilities as the IRS employer of
record. This co-employment agreement and payroll administration makes
everything possible for employers.
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Any and all
work comp claims you may have while engaged in a PEO relationship
are the responsibility of the PEO.
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