Benefits of Using A Minnesota PEO Service Provider
With more time to focus on growth, you could better plan and execute strategies to drive your business forward, furthering its success and longevity. A Professional Employer Organization (PEO) can help your Minnesota business significantly reduce employee-related costs by providing the following benefits:
- Complete payroll administration, direct deposit, tax deposits, in addition to quarterly and annual reports.
- 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 insurance, along with savings plans that your employees can actually afford.
How Much Does a Minnesota PEO Provider Charge?
Average administrative costs run between 2-4% of the annual payroll. This is 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 that 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. That’s why partnering with the right PEO can help your organization.
Payroll, garnishments, tax reporting, human resource issues, unemployment claims and more create a heavy time burden on small businesses taking away from their core competencies.
How ELQ Helps Your Minnesota Business
Whether it's reducing insurance costs, outsourcing payroll management, or accessing better benefits, the right Minnesota PEO service can directly impact your business! Since 2001, ELQ effectively identifies the most important needs for your business to access your perfect outsourcing solution.
We've dedicated years of research and evaluated hundreds of PEOs from across the country for over 20 years. We understand their industry preferences, services, benefits and costs. Call today and request a quote for answers, pricing and proposals.
Our PEO services at ELQ provide support and expertise in a variety of areas to help your company succeed!