How does a PEO service work?
A New Jersey PEO provider allows you outsource work that takes time and doesn't generate revenue, so you have more time to spend on things that do. Also known as employee leasing, PEOs provide complete payroll administrative services, human resource and governmental compliance experts that lower your employment liabilities. Plus, you could see big savings on New Jersey workers' compensation insurance rates, even access to affordable employee benefit plans.
PEO Workers' Comp Advantages.
PEOs co-employ thousands of businesses, so their power in work comp premium provides huge savings up front - even for companies with poor experience modifier ratings. 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 Much Do PEOs Cost?
Many PEO providers base their administrative charges on the clients gross annual payroll and that averages between 2-4%. Outside of this, some employee leasing programs offer more robust benefits such as background checks, life insurance, employee counseling services and much more. Some include these benefits in your administrative fee, while others charge as a la carte services.
How Does A PEO Relationship Work?
Simple. The PEO service becomes the back office help for your New Jersey operations. Payroll management, tax reporting, workplace safety, benefits administration and many other employee related issues are outsourced for much less than in-house costs. As the employer, you continue to run the day to day operations as usual - but now with more time to focus on growth.
Since 2001, Employee Leasing Quotes has made finding your perfect New Jersey PEO solution fast and easy. HR outsourcing companies are all unique in their service offerings and costs - just like your business. Use our industry knowledge. Give us a call, ask questions and get answers that make sense. Our success depends on yours and you'll see we're here to help.