Why Use a PEO?
With big savings on Rhode Island workers' comp insurance, complete payroll management and affordable employee benefit options - PEOs help you streamline administrative work, while saving time and money. Why not outsource work that doesn't generate a dime of revenue and PEOs provide a number of great benefits including:
- Immediate savings on Rhode Island workers' compensation insurance, with no audits on a pay-as-you go plan.
- Access to group health insurance, dental, vision and supplemental plans.
- Outsource the headaches of payroll, tax reporting, quarterly and year-end reports, wage garnishments and more.
- Human resource experts to help you manage employment related issues and governmental compliance paperwork.
With it's inception almost 40 years ago now as "employee leasing" services - PEOs offer a simple concept. Pour your effort and time into tasks that generate growth and revenue for your business - and outsource the work that doesn't create a dime of income. Like many states, Rhode Island work comp and group health insurance costs continue to increase, along with employment laws and lawsuits. Employee leasing companies can reduce both labor costs and liabilities.
Businesses today need help managing increasingly complex employment laws and matters such as, payroll tax compliance, unemployment claim filings, workers' comp audits and so much more. Employers are increasing their need of a Professional Employer Organization (PEO) to save time and streamline services. Plus, A PEOs master workers' comp policy and healthcare plans eliminate premium deposits and other fees, providing valuable cash flow.
What Are The Costs of PEO Services?
Much less than in-house costs. PEOs charge an administrative fee that averages between 2-4% of your annual payroll. Compared with in house costs of 7-13%, based on Small Business Administration (SBA) statistics - PEOs are a bargain! Each provider is unique in their service and benefit 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. Understanding your needs and where outsourcing can provide the biggest impact, is just one way we help you through the process.
As employee leasing/PEO brokers since 2001, we know the industry like know one else. It's critical to partner with a provider that understands your industry, needs and the operations of your Rhode Island operations. Give us a call us and see for yourself. Questions and quotes are free - so why not see the benefits and how much you could be saving today!