Why Use A PEO Service?
Imagine what's possible if you could significantly reduce the employee-related costs of your Minnesota business and gain more time to work on growth. A Professional Employer Organization, or PEO can do that and provide all of the following benefits and more:
- Complete payroll administration, including direct deposit, tax deposits, quarterly and annual reports, job costing and more.
- Discounted Minnesota workers' compensation insurance with no audits, down payments on pay-as-you-go plans.
- Help with workplace conflicts, drug testing, unemployment claims and HR compliance issues.
- Benefits like group healthcare, vision, dental and supplemental insurances, even savings plans that your employees can actually afford.
How Much Do PEO Services Costs?
Average administrative costs run between 2-4% of annual payroll. A bargain considering the National Chamber of Commerce states that small businesses can spend up to 30% of their time managing employment related work.
Plus, recent independent studies have shown businesses who utilize a PEO service are 50% less likely to go out of business, grow 10% faster and experience an average of 22% less employee turnover.
How Does A PEO Relationship Work?
Known as a co-employment relationship, the PEO or employee leasing company becomes the administrative branch of your Minnesota business. The management of employment is a critical task, but one that also produces no direct income for the business.
Payroll, garnishments, tax reporting, human resource issues, unemployment claims and more create a heavy time burden on small businesses taking away from their core competences.
How We Help
Whether it's reducing insurance costs, outsourcing payroll management, or accessing better benefits, the right Minnesota PEO service can dramatically impact your business immediately! Since 2001, ELQ quickly identifies the most important needs of your business to access your perfect outsourcing solution.
We've done the research and vetting on hundreds of PEOs from across the country for 20 years now. We understand their industry preferences, services, benefits and costs. Call today for answers, pricing and proposals.
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