Imagine an environment where your time, energy and resources are focused on increasing your company’s bottom line. As a business owner or manager, you are free from the headaches and hassles associated with managing payroll, unemployment insurance, and workers’ compensation claims. You have access to a team of professionals who provide expertise in a multiple areas including human resources, compliance, risk management, and more. You are able to provide these services for your business which, in turn, allows you to attract and retain better employees.
With so many demands as a business owner, a Professional Employer Organization can help provide structure and guidance from the new venture to the established business. As a form of co-employment, you partner up with a PEO so you can focus on the day-to-day work and your core competency while the PEO focuses on the back-end office stuff. They process your payroll, provide support on high-level HR issues, and cover your workers’ comp. Some even give a cash back safety incentive for no to low losses…up to 25% of your paid premium!
Being in a PEO relationship gives you the ability to pay your workers’ comp premium on the go. Each time payroll is ran, your work comp premium is swept. What does this mean? No year-end audits! You pay exactly what you need to; no more, no less. Sounds pretty nice, huh? Add on top of that the minimal to no deposit and your cash flow gets freed up. Win!
⦁ A PEO can help small businesses grow 7-9% faster*
⦁ Companies who use a PEO save 35% on HR administration costs*
⦁ Partnering with a PEO lowers employee turnover by 10-14%*
⦁ Small to medium businesses using a PEO are 50% less likely to go out of business*
*Data obtained from NAPEO