Why Do Businesses Use a PEO?
As the cost of doing business continues to rise, Professional Employer Organizations (PEOs) are giving Alexandria employers the life raft they desperately need. PEO programs can save you up to 40% on Virginia workers' compensation insurance and give you access to affordable employee benefit programs.
Plus, outsourcing payroll to unload HR administrative issues and tax liabilities will give you more time to work on things that really matter - like growing your business.
How Does the PEO Relationship Work?
The PEO provider serves as the employment administrative arm for your business. Help from hiring to retirement, most business owners are overwhelmed with the amount of paperwork and mandated reporting that comes along with employment. PEOs give you the time to build your business the way you imagined it would be - without all the work that doesn't produce a dime of revenue!
What Are The Costs of a PEO?
Most PEO companies charge an administrative fee based on your annual payroll, which typically runs between 2-4%. Each PEO has separate charges for services such as, drug testing, employee handbooks, prevailing wage reports, employment practices liability insurance and safety training. Finding the right fit for your Alexandria operations, is just one of the ways Employee Leasing Quotes can help.
What Are Businesses Saying About PEO Services?
According to a recent study by noted economist McBassi & Company.
- 98% would recommend a PEO to a small business colleague.
- 70% have reported their revenues have increased since using a PEO.
- 50% are less likely to go out of business.
- Experience 23%-32% less turnover.
- 66% reported their profitable has increased since using a PEO.
Why ELQ?
With hundreds of PEO, ASO and employee leasing providers serving Virginia employers, ELQ helps you access the right outsourcing company for your business. So whether it's savings on Virginia work comp insurance, or accessing better healthcare options - we can help. Call today, ask questions and get answers that make sense.