PEO Service Benefits
Searching for a quick way to reduce employment costs on your Brooklyn Park business? Our PEO solutions can do that - and put more time back in your day. Just a few of the beneficial services a PEO provides include:
- Savings on workers' compensation insurance, with no down payments, policy fees, or audits.
- Reduced rates on group health insurance, dental, vision and supplemental plans.
- The ability to outsource payroll headaches, tax reporting, wage garnishments and more.
- Human resource experts to help you manage employment and governmental compliance issues.
How Does A PEO Service Work?
Your company enters into a shared, or co-employment relationship when working with a PEO. The PEO provider becomes the “Employer of Record" and is responsible for risk management, payroll and tax reporting, employee benefits administration and other human resource-related tasks.
You maintain direct control of the day-to-day activities of your employees, with the PEO absorbing many employer-related liabilities. The only differences you'll notice, are lower employment costs and more time for profit producing activities.
What Does A PEO Charge For Services?
Working with a PEO means hiring a group of people to manage all your employee related issues, but paying less than it would cost for one person. An PEO company's administrative fees average between 2% - 4% of your annual payroll. For example, a staffing business with 15 employees and a $400k annual payroll, would pay $12k at 3%. As you can imagine, the difference in costs is based on the amount of work performed.
Why Do Business Use A PEO?
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.”
How We Help
With over 20 years of experience in the PEO industry, ELQ can help you access the RIGHT PEO provider to reduce your employment costs and deliver an immediate impact to your Brooklyn Park operations. So whether it's lowering workers' comp or group healthcare costs, limiting compliance liabilities, or simply the need to access payroll online anytime of the day based on the way you work - we can help!
We've done the vetting on hundreds of PEOs from across the country since 2001, so you don't have to. Give us a call, ask questions and see how a PEO could benefit your business today.
