These days we can pay bills online, use cell phones as maps and even bundle our television, phone and internet services with one provider. This simple concept of saving people time and money is what PEO services can provide for your business.
How Can a PEO Help?
Professional Employer Organizations or PEOs, are today's way of running a business effectively. A PEO company allows you to bundle the administrative headaches of payroll management, workers' compensation, employee benefits, and human resource management with one provider - all for less than you could do on your own!
Some of the PEO advantages include:
The biggest reward, though, is the time you'll get back to concentrate on building your business. In fact, the Small Business Administration estimates that business owners spend up to 40 percent of their time consumed by employee-related paperwork.
Old School Methods No Longer Work
Outdated methods required employers to do their own payroll or utilize accounting services- and search out numerous agents for their insurance needs. Wasted hours have been spent dealing with payroll garnishments, claims, reports, audits and a pile of other issues including multiple bills to review from each provider.
From 2008 to 2020, the number of worksite employees employed in the PEO industry grew at a compounded annual rate of 7.6 percent. This is 7 percent higher than the compounded annual growth rate of employment in the economy overall during the same period.
Operating a business in today's environment requires employers to maximize their time and energy on ideas that generate profits and minimize the work that adds nothing to the bottom line. Professional Employer Organizations reflect the demands of a new business era, and a fundamental change in human resources management.
ELQ is Your Top PEO Resource
ELQ was created to provide employers an easy way to access competitive PEO provider proposals - based on the needs of your business. So whether your goals are to reduce workers' compensation costs, simplify payroll administration or attain a stronger all around benefits package for your employees- we can help. Call us and get started today.
