How Can A PEO Help?
Short for Professional Employer Organization, PEOs provide a cost-effective way to outsource employee administrative work. From payroll management, work place safety, to proper hiring and termination practices - outsourcing the time consuming tasks that drive zero revenue into your business are just a few reasons to partner with a PEO company.
For over 40 years now, PEO services have given millions of business owners a back-office partner to help them focus on what really matters - like sales, service and growth! Just a few of the many benefits include:
- Payroll services for less than you could do on your own.
- Big discounts on a master workers' comp policy, with no audits or down payments.
- Human resource assistance covering unemployment claims, compliance issues, EPLI and pre-employment screening.
- Access to great employee benefits.
How Many Businesses Use A PEO?
PEOs provide services to between 156,000 and 180,000 small and mid-size businesses, employing between 2.7 and 3.4 million people.
Texas PEO Workers' Comp Advantages
PEOs have many benefits, but one of the biggest lies in their workers' compensation insurance coverage for their clients. When you use a PEO, you'll start saving money immediately by eliminating the down payments associated with your workers' compensation policy. Instead, you'll can make smaller, manageable payments as you go - with no annual audits.
Other Workers' Comp Benefits with a PEO Include:
- Big savings- Pay up to 40% less than state rates on insurance premiums.
- Easy certificates of insurance.
- Return to work programs.
- Risk management and safety programs.
- OSHA compliance.
- Improved cash flow with pay-as-you go plans.
- Partnerships with top-rated carriers.
How Much Do PEOs Charge for Services?
Much less than in-house costs. The average administrative costs in using a PEO service are between 2% - 4% of your annual payroll. For example, if you have a $500k payroll - a 2% management fee would be $10k yearly.
Considering complete payroll, work comp, employee benefits, risk management and HR services are included - the value of outsourcing with a PEO can't be beat. More importantly, you'll notice the time savings your Beaumont business has gained to operate and work on growth instead of paperwork.
Why Us?
Use our industry knowledge to deliver a solution that makes an immediate impact on your Lubbock operations. As the nation's leading PEO brokerage since 2001, ELQ is the easiest way to find the right PEO company for you. Give us a call, ask questions and let's find out if an employee solution is right for you. Each business in every industry is different, so how can you benefit the most?
