Why Use A PEO?
The high costs of employment are just one great reason that New York employers utilize PEO services. Professional Employer Organizations (PEOs) have been one of the fastest growing business trends over the last few decades, because of their ability to reduce costs and liabilities - while giving you more time to focus on growth. Here's how:
- Discounted New York workers' compensation insurance, on a master policy with no audits or down payments.
- Affordable group healthcare and other benefits such as supplemental insurance, dental and vision, 401(k) plans and more.
- Accurate and timely payroll tax reporting, quarterly and year-end reports, garnishment withholding and direct deposit.
- HR professionals for help with everything from workplace conflicts to unemployment claims and more.
Workers' compensation insurance savings of up to 40%, with little to no money down! Plus, payroll services provide an exact audit each time you report, so you'll never experience a surprise. PEOs and many HR outsourcing providers offer fortune 500 benefits with competitive rates, that even small companies can access. Human resource professionals reduce many employment liabilities by providing assistance with safety and employee handbooks, along with proper hiring and termination procedures.
How Much Do PEO Services Cost?
Most PEOs charge an administrative fee that averages between 2-4% of your annual payroll. Compared to in house costs of 7-13%, based on Small Business Administration (SBA) statistics and looking at complete services involved - PEOs are a bargain! But each provider is different, with unique service and benefit cost offerings. For example, one may include background checks, or pre-hire drug testing in their management fee, while others may charge on an a la carte basis. That's just one way we can help you through the process.
For almost two decades, Employee Leasing Quotes has helped New York business owners in a variety of industries find the PEO outsourcing solution that best fits their needs. So whether it's building a stronger employee benefit offering, lowering New York work comp insurance rates, or outsourcing payroll - we can help. Call today and get answers to your questions that make sense. Since 2001, we've helped thousands of companies save millions of dollars in taxes, insurance and time.