Employers Face California Workers' Comp Increases
California employers continued to take it on the chin with a 2010 increase in workers' compensation insurance rates. The state's unemployment insurance fund has already borrowed over 5 billion dollars from the feds and state workforce department officials estimate that by the end of 2010, the state's fund will owe a jaw-dropping $18 billion.
So, with all of the costs of running a business going up and sales that continue to slump, what's the answer?
California PEOs Can Be the Solution
Since the 1970s, Professional Employer Organizations (PEOs) have transformed the way businesses operate. You start a business in order to sell a product or provide a service and generate revenue. But soon you discover all of the other tasks that must be completed to run your company. These necessary, but time-consuming, issues include:
- Payroll administration
- Employee benefits management
- Workers' compensation insurances and claims
- Personnel management
- Governmental compliance issues
- And more!
How PEOs Work
PEO companies process and deliver payroll to your office (or direct deposit), they're liable for all your state and federal tax deposits, submit quarterly and year-end reports, they even mail out W-2s and wage garnishments- all for less money than you could do on your own!
Plus, your business will also benefit from a discounted California state unemployment rate that could save you thousands of dollars each year.
PEO workers' compensation benefits include big discounts (up to 40%) compared to traditional carriers and the California state fund. You'll also have the advantage of a zero down, pay-as-you-go policy that eliminates the hassles of time consuming audits.
Plus, you become part of a large buying group that gains your business access to big company benefits at reduced rates. Professional Employer Organizations will positively impact your California business by cutting employee-related expenses, while giving you the freedom and time to generate income for your company- doing what you do best!
ELQ Finds the Best PEO For You
Choosing the right PEO company is a big decision and we treat it that way. We're licensed insurance agents with over 30 years of experience in the PEO industry.
As independent brokers, we work with hundreds of HR outsourcing providers. We've done the homework and the vetting. We understand each PEOs industry preference, minimum size requirements, services and benefits - and of course costs.
Give us a call or fill out our quote form, and let's find out how a PEO could benefit your business.
