How Can A New Jersey PEO Service Help?
A New Jersey PEO provider allows you to outsource work that takes time and doesn't generate a dime of revenue, so you have more time to spend on things that do. Also known as employee leasing, PEOs provide complete payroll administrative services, along with human resource and governmental compliance experts that lower your employment liabilities. Plus, you could see big savings on New Jersey workers' compensation insurance rates and access affordable employee benefit plans.
Other New Jersey PEO Benefits include:
- Reduced Unemployment Tax Burdens: In some cases, PEOs can extend state unemployment tax rates (SUTA) that are lower than a client's business can get on their own.
- Better Employee Benefits: PEOs makes it easy to attract and retain the best employees by providing your company with high quality, affordable employee benefits.
- Lowered Costs: PEOs can typically save New Jersey companies 15-25% on their workers' compensation insurance rates. Plus, workers' compensation premiums are collected with weekly or bi-weekly payroll, eliminating down payments, policy fees and annual audits.
- Less Turnover: PEO companies allow business owners to offer their employees a sense of security by providing flexible payroll options, benefit and retirement options and a safe working environment.
PEO Workers' Comp Advantages
PEOs co-employ thousands of businesses, so their power in work comp premium provides huge up front savings - even for companies with poor experience ratings. This allows business owners to take advantage of savings, which are usually only available to those who qualify for larger group rates.
You'll also save long term with effective risk and claims management, because they PEO has a financial interest in the claim. Additionally, the PEO's pay-as-you-go program helps employers avoid down payments.
How Much Do PEOs Cost?
Many PEO providers base their administrative charges on the clients gross annual payroll and that averages between 2-4%. Others 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 as a la carte services. Understanding your industry, business and how a PEO can impact your bottom line is how we help.
How Does A New Jersey PEO Relationship Work?
Simple. The PEO service becomes the back office help for your New Jersey operations. Payroll management, tax reporting, workplace safety, benefits administration and many other employee related issues are outsourced for much less than in-house costs.
As the employer, you continue to run the day to day operations as usual - but now with more time to focus on growth.
Access Top Rated New Jersey PEO Services
Since 2001, ELQ has made accessing your perfect New Jersey PEO solution fast and easy. PEOs are all unique in their service offerings and costs - just like your business. They specialize in different industries and employee sizes. Their services, benefits and costs all vary dramatically.
We've done the background and homework for you - that's what we do! Use our industry knowledge. Give us a call, ask questions and get answers that make sense. Or request a New Jersey PEO quote and let's get started.
