How Can A PEO Service Help Your Business?
A PEO (also known as an employee leasing) service, allows you to outsource work that doesn't contribute a dime to the bottom line. Unloading payroll, tax reporting, work comp audits and dozens of other employment related administrative issues - will give you more time to spend on growing your Syracuse operations.
PEO Service Benefits:
- Annual payroll management. Tax filings, wage garnishments, tailored payroll reports, free direct deposit and more.
- Affordable group health insurance, dental and vision, even 401(k) savings plan options for small business budgets.
- No money down, pay-as-you-go New York workers' comp insurance.
- Governmental compliance assistance, new hire reporting, e-verify, customized handbooks and work-place safety help.
What Do PEO Companies Charge For Services?
As an industry average, you can expect an administrative fee at 2% - 4% of your annual employee payroll. For example, if your annual payroll was $800k and the employee leasing company charged 2% - the annual management costs would be $16k. Considering online payroll access, HR services, risk management and dozens of other benefits - PEOs are a bargain if even half of the services are used.
How Does The PEO Arrangement Work?
Employees "leased" out through a PEO company report to their employer for daily tasks, but claim the PEO as their legal employer on W2s. This employment method is also known as co-employment. The biggest change you'll notice is how much more time you have, without all the hassles of employment administrative work. The employer continues to hire and make employment decisions. A PEO is there to help, providing legal advice, work-place safety assistance, wage and hour law compliance updates, employment handbooks and much more.
Why Chose ELQ?
We save you the time and effort from interviewing multiple PEO companies to access the one that works for your Syracuse business. We've done the research and vetting on hundreds of PEOs from across the country since 2001, so you don't have to! Plus, thousands of others have and you'll know within minutes how a PEO service could impact your business.
Looking to improve your employee benefits package? We have solutions. Ready to outsource payroll headaches and lower workers' comp costs? We can help. Give us a call and let's find out how a PEO could benefit your business.
