What is a Colorado PEO Company?
A Professional Employer Organization (PEO) is a service that small to mid-sized businesses commonly use to provide HR management and benefits administration along with a broad range of HR services.
PEO companies work with thousands of employers and pools them together. By doing so, a PEO gives smaller companies affordable rates on high quality healthcare and employee benefits that might not be options for them otherwise. And because they are buying the benefits in bulk, they are able to get a much better rate per employee. Plus, this expanded client base ensures that PEOs can provide very low workers' compensation insurance rates.
What a Colorado PEO Can Do For You
There are many benefits for employers looking to partner with a PEO. One of the biggest advantages is the time savings that business owners are able to achieve by outsourcing the headaches of payroll and HR management. When the PEO handles this busy work, an employer is able to focus his/her time on building profits and expanding business opportunities.
Other 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 companies 15-40% on their workers' compensation insurance rates. Plus, with a PEO arrangement, workers' compensation premiums are collected with weekly or bi-weekly payroll payments, which means the usual upfront annual premium payments are avoided. There are never any audits or audit fees.
- Reduced 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.
How Does a PEO Arrangement Work?
The arrangement between a PEO and a client is called co-employment. In this relationship, the PEO handles benefits, payroll processing, tax remittance, risk management, and other human resource services for your company. You maintain the day-to-day maintenance of your business and employees, including hiring and firing and employee supervision with no loss of control of your company.
Colorado Workers' Comp Costs with a PEO
One of the biggest reasons a business owner may use a PEO is to save money on workers' compensation. Many employers find it to be one of the highest costs in running a business. Work Comp through a PEO has many benefits, including:
- No Money Down
- No Audits
- Big Savings- Pay up to 40% less than state rates on insurance premiums
- Risk Management and Safety Programs
- Return to Work Programs
- Easy Certificates of Insurance
- OSHA Compliance
Why Should Your Business Use Employee Leasing Quotes?
Choosing a PEO employee leasing company is a big decision and we treat it that way. We're licensed insurance agents with over 20 years of experience in the Employee Leasing industry.
Since 2001, we've saved employers millions of dollars in workers' comp and health insurance premiums. We maintain an A+ rating with the Better Business Bureau. Our success stories page offers business names and contacts from satisfied clients from across the country.
As independent brokers, you'll get all the facts and questions answered up front. We eliminate the concerns, so you're comfortable with your decision. We take responsibility for the providers we recommend and hold them accountable for the promises they make.
We're the only PEO brokerage service that guarantees your satisfaction. Call us today to see how much you can save.