Asphalt PEO Service Benefits
Professional Employer Organizations (PEOs) that service the asphalt industry give you peace of mind, knowing that your payroll and tax reporting is being processed accurately, your employees can access affordable benefits, and your business is complying with federal and state employment-related laws.
With a PEO's master work comp policy, your asphalt business can immediately gain access to discounts of up to 40% off the standard market. Plus, many offer no money down, pay-as-you-go options with no annual audits and safety incentives.
Plus, outsourcing payroll for less than you can do on your own, gives you more time to focus on sales, service, and growth. Just a few of the beneficial services include customized reports, management of employee garnishments, quarterly and year-end tax reporting and W-2s. Even better, you'll gain access to big company employee benefits like group healthcare, 401(k), dental, and vision plans at reduced rates.
How Does a PEO Work for an Asphalt Company?
Started in the 1970's and still known as employee leasing, the term PEO was coined in the late 1990s. The concept was simple. Create a business service where small to mid-sized business owners could outsource their employee related administrative tasks - to focus on sales, service and the growth of their business.
The PEO company serves as the employment administrative arm of your business. Help from hiring to retirement, most business owners are overwhelmed with the amount of paperwork and mandated reporting that comes along with employment.
The employer remains in control of hiring, training and their day to day business functions. The only changes you'll notice is more time to focus on revenue generating tasks and lower employment costs.
How Much Does a PEO Cost?
Most PEO companies charge an administrative fee based on your annual payroll, that typically runs between 2-4%. Compared to in-house costs of 8-15%, based on the Small Business Administration's (SBA) statistics - PEOs are a bargain!
Each PEO provider may have other separate charges for services such as, drug testing, employee handbooks, prevailing wage reports, employment practices liability insurance and safety training. Accessing the right fit for your asphalt business is just one of the many ways we help.
Workers' Compensation Advantages for the Asphalt Industry
Based on the risks associated in the asphalt business, not a lot of PEO companies provide services to the industry. Each PEO is different in their service offerings, workers' compensation carrier(s) and risk tolerance. While some specialize in higher risks, such as construction and trades - others prefer less volatile industries offering human resource guidance and highly rated employee benefit plans.
That's why many asphalt company owners are turning to a PEO program to lower premiums and costs. With a PEO's help in safety and risk management services which drive down their experience modification rate, client employers can often save up to 40% off traditional policy rates.
Payroll services also provide an audit each period to insure accuracy. Every PEO has specific workers' compensation classifications they can/ cannot cover mandated by their Workers' Compensation insurance policy or other carrier arrangements. Additional PEO Workers' Compensation Benefits Include:
- Easy & timely certificates of insurance
- Return to work programs
- Risk management and safety programs
- OSHA/ DOL compliance
- Improved cash flow with pay-as-you go plans
- Partnerships with A rated carriers
Why Work with ELQ to Find a PEO?
As the nation's leading PEO brokerage since 2001, ELQ is the easiest way to access the right company for your asphalt business. With so many choices, there may be only one that can deliver the benefits you need. We've done the research and vetting on hundreds of PEOs from across the country for 20 years now - that's what we do!
Every PEO and every business working with a PEO is different. ELQ ‘s expertise ensures your asphalt business is matched with the right PEO. ELQ has been researching and vetting hundreds of Indiana PEO providers since 2001, so you don't have to! Professional employee organizations differ in their industry preferences, employee sizes, benefits, services and of course costs. For example, one may include background checks, or pre-hire drug testing in their management fee, while another charges on an a la carte basis.
Your business is unique to any other. ELQ understands each business has specific needs and requirements that need to be met. Whether you work in construction and need relief from high workers' compensation rates, or own a medical practice where employee benefit help is essential, ELQ can help. We know the PEO market and how to help your operations save time and money. Request a PEO quote today!
