How Can A PEO Help Your Business?
Searching for a quick way to reduce employment costs on your oil and gas company? An employee leasing solution through our PEO programs can do that - and put more time back in your day. Just a few of the beneficial services a PEO provides include:
- Reduced rates on group health insurance, dental, vision and supplemental plans.
- Savings on workers' compensation insurance, with no annual audits and no money down, on a pay-as-you go plan.
- Annual payroll services including, tax reporting, wage garnishments, direct deposit and more.
- Human resource experts to help you manage employment issues and governmental compliance headaches.
Accurate named a Professional Employer Organization, because PEO companies focus on everything that has to do with employment. Businesses use a PEO service, to spend their time and resources on sales, service and growth instead of being a “professional employer.”
What Type of Businesses Use A PEO?
PEOs provide services to 175,000 small and mid-sized businesses, employing 3.7 million people. The industry has grown considerably in the past few decades, with more than 900 PEOs now in the U.S. alone. PEOs can benefit almost any industry, and work in almost every state.
How Much Do PEO Services Cost?
For starters, think of a PEO as a group of people to manage all your employment related administrative issues, but paying less than it would cost for one person. An employee leasing company's administrative fees run between 2% - 4% of your annual payroll on average. For example, a business with 15 employees and a $500k annual payroll, would pay $10k at 2%.
As you can imagine, the difference in costs is based on the amount of work performed. If employee benefits are involved, with reporting of ACA compliance documents, COBRA administration, 401k management, etc - all will have an affect on pricing structures. But even at 4% - it's impossible to find a professional to manage payroll, risk management and all these tasks for $20k a year.
Why ELQ?
As the nation's leading PEO brokerage since 2001, ELQ is the easiest way to access the right company for your oil and gas operations. For 20 years, we've researched and interviewed hundreds of PEO providers, understanding their industry preferences, services and costs - so you don't have to.
Every business comes with it's own set of unique challenges and needs. So, whether it's outsourcing payroll services, or reducing work comp rates, there may be only one PEO company that can provide the impact you need. Call today, ask questions and get answers - we're here to help.
