Employee Leasing Quotes : PEO Blog

If business isn’t exactly booming for you right now, it’s the perfect opportunity to spend some time looking at expenses and how to tighten things up. Let’s face it- when business is good and you’re really busy, the last chore you want at the end of a long day is to compare proposals for services and make changes.

It’s always a punch to the gut to see how much money is actually being spent on things like health insurance, cell phones and other business expenses. With our economy in a downturn, now is a great time to be negotiating almost everything your business requires to run efficiently.

I saw an example of this recently while visiting with a contractor in the plumbing industry. He runs a large company, but over the last year his business has dropped dramatically. He was using employee leasing services but had his group health insurance separately through a local agency.

We looked at future issues to consider and developed some options that created great results. By changing to a new employee leasing company that specialized in benefit options, he was able to save over $13,000 a year on health insurance! Better yet, the new employee leasing company offered a safety incentive program that gave him an opportunity to earn another $10,000 back on worker’s compensation premiums.

His company is likely to see even more long-term savings because the new employee leasing company’s average yearly health insurance rate increase is around 7%- less than half the national average!

If we can help you analyze your overall employee related expenses, please give Employee Leasing Quotes a call. Our information is free and helpful. We can be reached at 1-888-582-8388.

Just as your business is unique from any other, employee leasing (a.k.a. PEO) companies are also very different. As you inquire about employee leasing services, start by understanding the three basic categories that most employee leasing companies fall into.

Top of the Line

When hiring, maximizing and retaining good employees is the primary focus for success and profitability of your business, this group of employee leasing companies offer some incredibly beneficial services.

Designed for white and gray collared businesses, this group’s main strengths are a strong employee benefits platter along with tailored human resource and payroll services. A short list of the services offered in this category of employee leasing companies include:

Medical Benefits with Life and AD&D Dental/ Vision Plans
Supplemental Benefits 401 (K) Plan with Match Options
EPLI Coverage Pay Cards
Employee Tuition Reimbursement  Legal Plans
E-Learning /Webinars Employee Assistance Programs
Flexible Spending Accounts Discounts for Employers & Employees
Time Clock Interface Payroll Helpdesk

Some of the industries served in this group include the following:
Healthcare Hospitality
Professional Services Manufacturing
Retail Industrial
Education Government

Because this group offers a wide array of benefits and services, you can expect to see higher administrative costs for the expenses incurred. All will have employee and annual payroll minimums, different health insurance companies and pricing. Tip: Know the top three services (in order of importance) you need from this group of employee leasing companies and compare from there.

Middle of the Road

If competitive workers’ compensation rates are a high priority, with some benefit options to access, then this may be the group that fits with your business. You’ll want to be careful and selective with this group. Unlike the other two categories that clearly define their niche, many within this group try to be all things to all employers.

Benefits you’re likely to find are:
Medical Benefits with Life and AD&D Dental/ Vision Plans
Supplemental Benefits 401(k) Plan with Match Options

Some of the industries that fit well with this type of employee leasing company would be:

Construction Trades
Restaurants Hotels
Childcare Industrial
Machinery
You can find some all-around great companies within this group if you do your homework. Annual payroll and employee minimums are significantly less in this category of PEO than the “Top of the Line” group. You’ll also find a more competitive administrative cost with this group because less servicing of benefit and human resource functions are involved. Tip: If benefits are the highest priority for your business, it’s worth the nominal increase of moving up to the “Top of the Line” group. 

No Frills

If you need an employee leasing company with low set-up fees, low minimum payrolls and competitive workers’ compensation rates, then this group is a great fit for you. Backed by insurers that underwrite higher risk workers’ compensation classifications, these employee leasing companies are great for keeping insurance and administrative costs down so that you can remain competitive.

Benefits are not an option with these employee leasing companies, but most are capable of making pre-tax deductions for you on any existing benefit plans. Some of the industries you’ll find this group serving are:

Construction Trades
Landscaping Welders
Movers Warehousing

Because they spend little to no time handling benefits and HR issues unlike the other categories, this group delivers very competitive administrative costs. Tip: Years in business is an important factor in this category.

What’s important is to understand what specific services are important to you, your business and employees. Too many times over the years we’ve found companies paying for services they’ll never use, or in need of services that aren’t available. It’s time consuming to have make changes- and of course that costs money. If you’re ready to take a strong look at employee leasing, we can help. Please call us at 1-888-582-8388. Our information is free and helpful!

If you’ve considered weighing the benefits of Employee Leasing/PEO services for your business, talking with a PEO broker can save you a lot of time, money and frustration. With literally thousands of options and each claiming to be your best choice where do you start?

Unlike company-employed salespeople, PEO brokers represent more than one employee leasing company, so they can offer clients a choice of service providers.

Each employee leasing company is unique in their offerings. Their workers’ compensation and benefit plans have very distinct differences in coverage and costs. They service different industries, markets and states. The job of a PEO broker is to save you time by doing the background work for you- traveling to each PEO, communicating with the principles and management. The PEO broker should know who can successfully service all the needs of your business.

PEO Brokers will:

1. Allow you to communicate openly about the needs of your business without the anxious feeling of the company sales pitch to follow.

2. Quickly send out (RFP) request for proposals to PEOs that qualify for your business.

3. Direct all communication, saving you from unwanted sales calls.

4. Present you with all the proposals and discuss options and strategy.

5. Continue to advise you over time to keep employee-related cost factors to a minimum as your business needs change.

As the employee leasing industry has grown, the PEO broker has become a vital asset. All the advantages ultimately favor using them for independent representation, therefore having qualified employee leasing companies competing for your business.

If you have questions about employee leasing, call us at 1-888-582-8388. Our information is free and helpful.