Benefits of Using a PEO for Your Flooring Business
Like most business owners in the flooring industry, it's easy to find yourself working on issues that aren't bringing in revenue and hard to find time to work on tasks that do. Using a PEO service for your flooring company can help streamline a business towards success by taking care of much non-income-producing work. Many PEOs offer workers' compensation insurance rates, with no audits or down payments, employment verification, risk management, and much more.
By partnering with a PEO service provider that specializes in flooring companies, businesses will be able to command better day-to-day business decisions positioning your business as an employer of choice, while making HR much easier to manage. More benefits include:
- Big discounts on a flooring workers' comp insurance, with no audits or down payments
- Payroll administration, including tax reporting, wage garnishments and more
- HR assistance, unemployment claims management, safety and employee handbooks
- Affordable employee benefit options
- Professional HR experts offer valuable assistance on compliance and employment-related issues that reduce liabilities
- Some PEOs will offer EAPs to help with life/family needs
Today's business owner needs help managing time-consuming employment matters such as workers' compensation claims, premium audits, payroll tax liabilities and personnel management issues. Each year, more flooring companies are choosing to outsource to reduce liabilities, save time and lower employment related costs.
How Much Does a PEO Cost?
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.
PEO Workers' Compensation Insurance Benefits for Flooring Companies
Professional employer organizations improve a flooring company's cash flow by reducing or eliminating large down payments and state fees, associated with traditional work comp policies. And a PEO allows for the pay-as-you-go process with payroll for a direct audit each time. Even employers with a high experience rating resulting from claims can save. Plus, their certified risk management specialists design return to work programs to get injured employees back to work.
More PEO Workers' Compensation Benefits Include:
- Easy certificates of insurance
- Return to work programs
- Risk management and safety programs
- OSHA compliance
- Improved cash flow with pay-as-you go plans
- Partnerships with A rated carriers
- No audits
ELQ has been working with and vetting PEOs since 2001. We have spent two decades researching available professional employee organizations and understand all of their unique differences. We have the experience that flooring companies need to find the right fit for their businesses.
We are the nation’s premier PEO broker and take pride in saving you and your business time and money. Let us do the detailed work of matching you with your ideal PEO. Give us a call or fill out our online request form today!