Illinois Professional Employer Organization Information
A Professional Employer Organization, also known as a PEO, is a firm that allows small and medium-sized companies to outsource most of their human resource management responsibilities.
PEOs deliver cost-effective, outsourced services for HR, payroll, benefits, risk management and much more. This allows employers to focus on growing their business, not managing time consuming employee related tasks. Many PEOs also offer expanded human resource services like time and attendance, recruiting, employee training, and performance management.
Other advantages include:
- Savings of up to 40% on Workers' Compensation Insurance Rates
- Direct Deposit
- 401(k) Savings Plans
- Claims Management
- Affordable Employee Benefits
Why Choose an Illinois PEO Provider?
When you outsource your HR to a PEO employee leasing company, all of the liabilities and risks are no longer on your shoulders. You can devote more time to high-value business activities and focus on the mission of your business. The PEO keeps you in compliance with complex federal, state and local regulations. They handle all unemployment and workers' compensation claims. You'll get secured work comp with timely certificates of insurance. Plus, you will be able to attract better employees by offering them access to excellent benefits plans and other perks.
PEO Workers' Comp Advantages
PEOs co-employ thousands of businesses, so their bulk work comp power provides huge savings up front. This allows business owners to take advantage of savings, which are usually only available to those who qualify for larger group rates. They are also able to save you money long term with effective risk and claims management. Additionally, the PEO's pay-as-you-go program helps employers avoid large down payments.
More Work Comp Benefits Include:
- No Down Payments
- Pay-as-you Go Plans
- No Audits
- Claims Management
- Timely Certificates of Insurance
How Does an Illinois PEO Company Work?
Using a PEO provider is a type of co-employment. This means that the PEO performs human resource management, payroll, benefits, advice on compliance, and a variety of other services related to Human Resources. By doing this the PEO and company share responsibility of risks and liability for the employee.
As the business owner you report your employees' payroll to the PEO, then they send you an invoice for the total amount owed for the workers' compensation, matching governmental taxes and the PEO's administrative fees for processing your payroll. This is billed on a pay-as-you-go basis, eliminating workers' compensation insurance audits.
Why Use Employee Leasing Quotes?
We have been in this industry since 2001 and are experts on everything concerning Professional Employer Organizations. PEOs are all different, and offer varied benefits and options. Their pricing can differ dramatically. We work with you to learn your company's specific needs and pair you with the proper PEO solution.
Finding the PEO that best fits your business takes time and research. When you use our expertise, you can rest assured you are getting the highest quality PEO services at the lowest cost. What you can save depends on your current situation, so call us today to see what we can do to help your business.