Why Use A PEO?
McAllen business owners who want to focus their time and energy on the "business of their business" and not the business of employment, are connecting with a PEO service - also known as employee leasing. The advantages of outsourcing include:
- Affordable employee benefits, including healthcare, dental, vision and 401k savings plans.
- Annual payroll management. The PEO assumes responsibility of on-time payroll tax payments, files quarterly (941) and year-end (940) reports, handles all wage garnishments, offers free direct deposit and so much more.
- Huge discounts on Texas workers' compensation insurance. Plus little to no money down, pay-as-you go plans, with no annual audits.
- Professional human resource help. Get answers from the leasing company's HR service team when you need it for a fraction of the cost of hiring.
More PEO Service Advantages
While time is the largest cost savings, there are a number of ways that PEO services put money back into your McAllen operations. The average savings on Texas work comp premiums is almost 20% on a PEOs master work comp policy without down payments, or policy fees and greater savings can be found even with high xmod issues.
Discounted state unemployment rates (suta), can save employers thousands of dollars in taxes, with no setup fees on company 401k plans. With almost 20 years now of consecutive double-digit growth, the facts are clear that PEO services are a bargain!
What Are The Costs?
The average annual administrative fee that PEO companies charge will range between 2% - 4% of your annual payroll. For example, if your business has 20 employees with an annual payroll of $750k and the PEO administrative cost was 2% - the annual charge would be $14k. Even at 3%, where can you find a professional to perform all payroll, HR administration and risk management for $21k?
Does The PEO Cover My Employees In Other States?
Some. Out of over 900 PEO companies in the US, only a small percentage are licensed in multiple states. The majority of PEOs service clients in their state only. Over time in many cases, a PEO has clients that border on neighboring states and have work opportunities in those states. This is when the PEO will invest in licensing and the applicable accounts needed to do business in the new state.
Why Us?
ELQ makes accessing the right McAllen PEO service fast and easy. Because just as your business is different from any other, so is each PEO provider. While lowering the high costs of work comp may be the most important for to one, outsourcing payroll and upgrading an employee benefits package may be the highest need for another.
Give us call, ask questions and get answers. Then get quotes from PEO providers that can deliver the benefits you need. You'll pay less without all the work.
