Starting a Business Isn't Always So Easy
Thirty years ago, Professional Employer Organizations (PEOs) were started to transform the way businesses operate. In short, the basic problem was that you start a business in order to sell a product or provide a service in hopes of generating revenue.
Then you quickly discover the necessary but time-consuming issues of payroll administration, employee and workers' compensation insurances, personnel management, and governmental compliance issues. All non-income producing work that prevent a business from maximizing profitability!
A PEO company eliminates these problems while providing powerful business benefits!
What Are the Advantages of a PEO?
PEO services do all of this, for less money than you can typically do on your own:
- Complete payroll management
- Offer free direct deposit
- Assume liability of all your state and federal payroll tax deposits
- Submit quarterly and year-end reports, even mail out W-2s and wage garnishments
- HR functions like unemployment claims and compliance
- Workers' compensation insurance discounts (up to 40%) compared to traditional carriers and the state fund
- Zero down, pay-as-you-go work comp policy
- No time consuming audits
- Access to big company benefits at reduced rates
The PEO Concept
While there are many more advantages of using PEO services, cutting employee related expenses while giving you the freedom and time to generate income for your company are the core benefits of a PEO.
The idea and concept seem simple and make sense in today's business environment as we've become accustomed to outsourcing more services that add nothing to the bottom line. Think about it- business owners regularly lease or outsource things such as tools, equipment, office furniture, copiers and printers – even labor.
Over the last thirty years, these opportunities have continued to multiple as our time holds more value and the benefits just make sense. There's a reason why PEO services continue to experience double digit growth each year. Similar to paying our bills online or combining phone, cable and internet providers for one easy check to write.
How ELQ Can Help Your Business
Since 2001, ELQ has helped business owners find a PEO that will deliver the services they need. Need to lower your workers' compensation insurance rates? We can help. Want to outsource payroll headaches? We can do that, too.
Our customer service is a top priority- and we offer the best guarantee in the industry. Call us today to see how much you can save- and get more time to focus on growing your business!
