How Can Grocery Stores Benefit from a PEO?
A PEO service allows you to outsource employment administrative work for less than you can do on your own, giving you more time to focus on growth opportunities. Tasks such as payroll and tax filings, safety services, unemployment claims hearings and more. Critical, important work that must be done correctly, but also work that doesn't generate income for your business.
PEO Advantages Include:
- Workers’ compensation discounts
- Complete risk management
- Unemployment claims management
- No work comp audits
- Enhanced payroll services
- EPLI options
- Broad range of employee benefits
- And more!
How Much Do PEO Services Cost?
When you own a business, there are five cost factors that you face. These costs are FICA (Federal Insurance Contributions Act), FUTA (Federal Unemployment Tax Act), SUTA (State Unemployment Tax), workers' compensation insurance, and payroll/ HR administration.
PEO services combine all of these costs so you have just one source for all employee-related tasks. In addition, PEOs offer low workers' compensation insurance rates- so employers pay much less than a small or medium-sized business would find on their own.
A PEO's administrative rate is between 2-4% of annual payroll. Chances are, your company can save money over what you're paying now. PEOs are an unbelievable value for business owners, because they offer:
- Human Resources Administration- services such as drug testing, employment verification, employee handbooks, liability management training- and much more!
- Discounted Workers’ Compensation Insurance- Along with the cost savings, PEOs manage all work comp claims. They can also provide risk management to prevent injuries, and plan return to work programs for injured workers.
- Complete Payroll Processing- paychecks, direct deposit, or pay cards for to pay your employees- plus online paystubs, compliance, record management, garnishments, and deduction administration.
- Employee Benefits- offerings include group healthcare, 401(k) retirement plans, life insurance, health care flexible spending accounts (HSA), dental and vision coverage, and more.
How Can Employee Benefits From A PEO?
Through a PEO, the employees of small businesses gain access to big-business employee benefits such as: 401(k) plans; health, dental, life, and other insurance; dependent care; and other benefits they might not typically receive as employees of a small company. And, when a company works with a PEO, job security is improved as the PEO implements efficiencies to lower employment costs.
Job satisfaction and productivity increase when employees are provided with professional human resource services, enhanced benefits, training, employee manuals, safety services and improved communications.
Why Choose ELQ to find the right PEO for you?
We make it simple - by giving you proposals that deliver the benefits you need. We quickly filter through hundreds of PEO companies to access proposals that fulfill your Grocery store's business needs. You'll get the services you want, at the best possible price – we guarantee it!
So, whether you need lower workers' compensation insurance rates or better employee benefits to help retain good employees, use our industry knowledge to deliver a solution that makes an immediate impact. Our success depends on yours, so give us call.
