Searching for ways to cut costs without reducing services? In today's tough market, a trucking PEO (Professional Employer Organization) can give your transportation business a huge advantage over your competition by decreasing your labor burden costs dramatically!
How Do PEO Services Work for Trucking Companies?
PEO providers offer you four core services:
- Complete payroll administration
- Workers' compensation insurance
- Group employee benefit plans
- Human resource management
These services will reduce your employment-related costs, minimize your liabilities and risk, and give you the freedom to work on profit producing ideas.
Assistance with Trucking Work Comp Rates
A PEO provides huge discounts on trucking workers' compensation insurance- up to 40%- and no money down policies. A PEO's coverage is on a pay-as-you-go plan, which eliminates down payments. helping you keep more cash in your business.
Other PEO Advantages
You'll also gain access to reduced employee benefit health care options, vision and dental insurance, even 401(k) and other savings plans.
With one in three businesses paying fines and penalties each year for late or inaccurate payroll tax reporting, the PEO assumes responsibility for:
- Preparing and distributing payroll checks
- Direct deposit
- Mailing out year-end W2s and W3s
- And many other tasks associated with payroll
According to the Small Business Administration, over the last thirty years, the number of labor laws and regulations have increased by over sixty-seven percent! Most business owners have never had formal training on hiring and firing procedures, how to perform annual wage reviews or construct an employee handbook.
A PEO company can assist you with these tasks and provide the human resource help that you need for a fraction of the costs of hiring an in-house professional.
Finding a PEO Solution
With over 1000 PEOs to choose from, finding the right fit can be a challenge. Each provider is different and unique in their services- just like your business, so it's important to choose a service that can deliver the benefits your business needs.
For over 25 years, business owners have relied on HR outsourcing and PEO solutions to drive down employee related costs. ELQ makes it easy for you to choose a provider that can deliver the services your transportation company needs. Call us today to get started!
