The Benefits of Using a PEO Service
Spend your days making sales instead of doing paperwork with a PEO solution. A PEO gives you the freedom to focus on your core business by taking all the payroll and HR paperwork off your hands. You can think of it as your back-office administrative partner.
Get much more than just the freedom from paperwork. A PEO allows you to trim expenses while improving operations. Here are just a few ways you'll benefit:
- Save big on South Carolina workers' compensation insurance. Workers' comp can be a big part of your budget. A PEO can save you money by obtaining a policy for you. Because PEOs buy for multiple businesses, they can negotiate lower prices than you can get on your own. You not only save money, you get great coverage too.
- Affordable employee benefits. A PEO can also provide great prices on group health insurance. Access great benefits such as vision care at affordable rates. This means that even if your business is still small, you can afford the same great benefits as larger companies. Your employees will know you've got their back, and you'll enjoy the savings.
- Easy payroll services. Enjoy professional, accurate payroll services as the PEO takes care of everything, from deductions to tracking vacation time. They also provide you with a user-friendly, secure online portal to make it easy for your team to report their hours.
- Expert HR support. Keeping up with fast-changing labor regulations can be a challenge. When you work with a PEO, you can be confident you'll always be in compliance. You'll also get the support you need to recruit top people without taking hours out of your workweek. And if needed, you'll also get expert support for conflict resolution.
What Are The Costs?
PEOs charge an administrative fee based on your annual payroll, that averages between 2-4%. Compared with in house costs of 8-15%, based on a Small Business Administration (SBA) statistic - PEOs are a bargain! But each provider is different, with unique service and benefit cost offerings. This is just one way we help you through the process.
How Does The PEO Arrangement Work?
When partnering with an employee leasing, or PEO company, you enter into a co-employment relationship. This means that the PEO assumes parts of your employer responsibilities, such as payroll processing and tax remittance, employee benefits administration, workers' comp and unemployment claims management to name a few.
You continue to maintain the day-to-day operations of your business, still in control of hiring, training and management of your employees. The only differences you'll notice are lower employment costs and more time for profit producing tasks.
How We Help
ELQ began our mission to help employers in 2001. We know the unique differences in PEO companies and how they work, because we've done the vetting and research for you - that's what we do! We save you the time and effort from interviewing multiple PEO services to access the one that will best impact your Sumter operations.
Use our industry leverage and strength to ensure you get the best PEO at the best possible price. Call, ask questions and get answers that make sense.
