How Can A PEO Help?
PEO companies take the employment responsibilities of payroll, HR, risk management and workers' compensation insurance off the business owner's shoulders so they can focus on growing and expanding business opportunities. They also offer smaller businesses the opportunity to attract more talented employees by providing great employee benefit plans and other perks they might not otherwise offer. Just a few of the many benefits include:
- Payroll outsourcing that includes, quarterly and year-end reporting, wage garnishments, direct deposit and more.
- Big savings on Oklahoma workers' compensation insurance, with little to no money down, no audits and pay-as-you-go plans.
- Access to affordable benefit plans like healthcare, dental and vision.
- Answers to employment related issues from the PEOs HR service team for a fraction of the cost of hiring in-house.
How Does A PEO Arrangement Work?
The arrangement between a PEO and the business client is often called a co-employment relationship. In this relationship, the PEO manages benefits, payroll processing, tax remittance, risk management, and other human resource services for your company. You maintain the day-to-day management of your business and employees as normal. The only differences you'll notice are lower employment costs and more time for profit producing activities.
How Many Businesses Use A PEO?
PEOs provide services to between 156,000 and 180,000 small and mid-size businesses, employing between 2.7 and 3.4 million people.
Workers' Comp Costs with a PEO Company
Workers' compensation insurance is many times the biggest expense associated with owning a business, so it's not surprising many employers are turning to a PEO to lower their costs. The right PEO can often save employers up to 40% off state rates for work comp, without down payments, policy fees or time-consuming audits.
Why Use ELQ?
Choosing a PEO is a big decision and we treat it that way. We listen to your needs, ask questions and create solutions that produce a positive impact on your business. Every business has its own unique needs, and ELQ has the industry experience to access you with a PEO company that will provide an immediate impact.
We've done the vetting on hundreds of PEO providers from across the country, so you don't have to! Call today and see how a PEO could benefit your OKC operations - we're here to help.
