Delaware PEO Overview
Professional Employer Organizations (PEOs), also known as employee leasing companies, have been assisting business owners for over 30 years. PEOs provide businesses with a wide range of human resources services. When an employer outsources to a PEO, they remove the burdens of these time consuming and complex administrative tasks, helping them refocus their energy on what they do best, building their company.
Companies that have experienced workers' comp losses and have a high experience mod can especially benefit from partnering with a PEO provider. The PEO can significantly reduce their costs by combining their experience in a pool with other employers that lowers their experience mod. PEOs are also able to receive credits or premium discounts that can be passed down to their client companies.
What Can a PEO Do for Your Business?
Most business owners don't have the necessary risk management background, human resource training, payroll and accounting skills, knowledge of compliance, insurance and employee benefit programs to keep up with running their company well. That's where Professional Employer Organizations can help. PEOs give employers the HR expertise and access to employee benefits that they wouldn't otherwise have.
PEOs share the responsibilities and liabilities of your company and take the weight off your shoulders when it comes to compliance and on-time payroll and tax reporting. They can also significantly lower your workers' compensation insurance premiums, which is oftentimes the most expensive part of owning a business. PEO providers are also key in attracting and retaining talented employees because they allow you to offer excellent and affordable benefit plans for themselves and their families.
In addition, PEOs provide a total and comprehensive solution for your business by becoming the only vendor you have to manage. In other situations you may be dealing with one vendor for your workers' comp insurance, another for employee benefits, and yet another for payroll management. With a PEO you have one source for all things, giving you more time to focus on profit and growing your business.
Other ways a Delaware PEO can help include:
- Complete payroll management
- Compliance with all employer-related laws
- Benefits administration
- Risk management
How Does a Delaware Professional Employer Organization Work?
In a co-employment relationship, the PEO acts as the administrative employer and the client acts as the worksite employer. The employer maintains control of the business and is in charge of all business decision making including employee supervision and staffing decisions. The PEO handles the time-consuming administrative tasks associated with the employment relationship. Typical services include: human resources services, payroll, benefits administration and risk management.
Do PEOs Lower Workers' Comp Insurance Rates?
Yes! Workers' compensation rates can often have a large financial impact on an employer's business. That's where a PEO provider can help. As work comp rates rise, they offer discounts that your company may not be able to receive on its own. The PEO offers solutions that require low out of pocket costs, or many times no money down- giving your more flexibility. PEOs also work with you when a work comp claim happens to reduce the overall impact, both immediately and long-term. Additionally, PEOs can often offer a lower SUTA rate than your company receives.
Other work comp advantages:
- Pay as you go plans
- Complete claims management
- Risk management from workers' compensation experts
- Training to reduce further risk liabilities
Why Should You Use Employee Leasing Quotes?
We've been in the PEO employee leasing business since 2001 and we know the industry top to bottom. We'll be your best resource to provide a PEO provider that will best help your unique business.
Professional Employer Organizations are different in their specialties, terms and pricing- and we save you the time and effort required to interview each one. Just one call to us covers all of the bases, because we can quickly match you with a provider that meets your needs. Plus, our negation and leverage in the industry ensure you get the BEST pricing.
Call us today for more information on how much you can save with a Delaware PEO service.