Vermont PEO Companies

What Does a Vermont PEO Service Do?

Looking for ways to reduce employment costs and increase profits? A PEO could be the answer. For almost four decades, Vermont employers have been outsourcing time-consuming employment administrative work to a PEO.

Benefits of a Vermont PEO Service

Professional employer organizations, also known as employee leasing providers offer Fortune 500 benefits with competitive rates that are accessible for large and small companies. Human resource professionals reduce many employment liabilities by providing assistance with safety and employee handbooks, along with proper hiring and employment procedures.

Outsourcing through a PEO company even manages tasks such as PTO tracking, wage garnishments, multi-state reporting and ACA compliance. It is important to know that Vermont law requires that all businesses offering Professional Employer Organization (PEO) services in the State be licensed by the Department of Consumer Affairs. Some of the most common PEO benefits include:

• Payroll Administration
  PEOs offer payroll services that include paper checks, direct deposit, paycards, even in-house check printing. They can also assist with tax reporting and wage garnishments.
• Retirement Planning
  Many PEOS offer a variety of retirement savings plans including 401(k). 
• Compliance Enforcement
  Professional HR experts offer valuable assistance on compliance and employment related issues that reduce liabilities.
• Workers’ Compensation
  Pay-as-you-go Vermont workers' compensation insurance, with little to no money down and no annual audits at discounted rates.
• Better Medical Benefits
  PEOs offer a range of life and health insurance as well as supplemental policies.
• Employee Assistance Programs (EAPs)
  Some PEOs will offer EAPs to help with life/family needs.

Statistics on PEO Services

According to a recent study by noted economist McBassi & Company:

• 70% have reported their revenues have increased since using a PEO
• 66% reported their profitable has increased since using a PEO
• 98% would recommend a PEO to a small business colleague
• 50% are less likely to go out of business

Advantages of Using a Vermont PEO for Workers' Compensation

PEOs offer a number of great benefits, but one of the biggest lies in the master workers' compensation insurance policies for their clients. Most businesses experience immediate savings on insurance rates, while avoiding down payments and state fees. Payroll services also provide an audit each period to ensure accuracy. Every Vermont PEO has specific workers' compensation classification codes they can or cannot cover, mandated by their Workers' Compensation insurance policy or carrier.

Other Vermont PEO Workers' Compensation Benefits Include:

• Return to work programs
• Risk management and safety programs
• Easy certificates of insurance
• OSHA/ DOL compliance
• Improved cash flow with pay-as-you go plans
• Partnerships with A rated carriers

How Much Do Vermont PEO Services Cost?

Much less than in-house costs. Vermont PEO companies either charge a fixed percentage of your total payroll, or a flat fee per employee. On average, PEO providers charge an administrative fee that averages between 2-4% of your annual payroll. Compared with in house costs of 8-15%, based on the Small Business Administration (SBA) statistics - PEOs are a bargain! Understanding your needs and where outsourcing can provide the biggest impact, is just one way we help you through the process.

How Does the PEO Relationship Work?

The PEO becomes your "back office" partner, allowing you to outsource work that takes time and doesn't generate revenue. Also known as employee leasing, PEOs provide complete payroll administrative services, human resource and governmental compliance experts that lower your employment liabilities.
Working with a Vermont PEO also allows companies to use the PEO’s lower EMR (experience modifier rating). This can be particularly beneficial to companies with prior claims issues and high experience modifiers.

Why ELQ to find a PEO Service?

If you're ready to experience the competitive edge that these programs can offer your Vermont business, we're here to help. We work with licensed and carefully vetted PEO companies from around the country. Our industry experience gives us the knowledge to access the best provider to help your business.

Each PEO and the businesses that work with a PEO are different. ELQ ‘s expertise ensures your Vermont business is matched with the right PEO. ELQ has been researching and vetting hundreds of Vermont PEO providers since 2001, so you don't have to! Professional employee organizations differ in their industry preferences, employee sizes, benefits, services and of course costs. For example, one may include background checks, or pre-hire drug testing in their management fee, while another charges on an a la carte basis.

Your business is unique to any other. ELQ understands each business has specific needs and requirements that need to be met. Whether you work in trucking and need relief from high Vermont workers compensation rates, or own a dental practice where employee benefit help is essential, ELQ can help. We know the PEO market and how to help your operations save time and money. Request a Vermont PEO quote today!

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