Why Should You Use A PEO Broker?
There are many advantages your business can benefit from when using a PEO Broker. Imagine reducing your Tennessee workers' comp insurance rates by as much as 40%, gaining access to corporate compensation benefit plans, and unloading monotonous payroll tasks for less than you can do on your own. An employee leasing solution through a PEO company can do just that - and has for almost 40 years now!
PEO services are efficient for your business because they reduce employment–related costs and give you more time to work on things that really matter, such as:
- Growing your business
- Reducing liabilities
- Wasting time dealing with administrative paperwork
Expectations are high when consulting a PEO broker considering this will be the company to handle vital functions and compliance on your behalf. Therefore, making sure they are trustworthy and highly knowledgeable is essential.
The Benefits of a PEO Relationship
In a co-employment relationship, PEO brokers are well-suited to help business owners evaluate their initial responsibilities. The PEO service provider becomes the back office support for your Tennessee operations.
Additionally, payroll management, tax reporting, workplace safety, benefits administration, and many other employment issues are outsourced for much less than in-house costs. As the employer, you continue to run the day to day operations - but with more time to focus on the trajectory of your business.
What Are the Costs of PEO Services?
Most PEO companies base their administrative charges on the client's gross annual payroll and that fee averages between 2-4%. Outside of this management fee, some may offer more robust benefits such as, background checks, life insurance, employee counseling services and much more. Some include these benefits in your administrative fee, while others charge a la carte and that's where we can help.
Why Should You Use ELQ Services?
Because we've done the research and vetting on hundreds of PEOs since 2001, so you don't have to! Plus, thousands of others have and you'll know within minutes how a PEO service could impact your Tennessee business. With hundreds of PEO, HR and ASO options to consider - there may be only one that can impact your operations where you need it most.
Looking to build a better employee benefits package? Are workers' comp costs affecting profit margins? We can help. Our services can handle administrative tasks, allowing you to focus on what you do best - managing your company. Give us a call to learn more about how a PEO could benefit your business.
