How Can A PEO Help?
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. PEOs allow you to unload the garbage work and focus on profit-producing ideas. Just a few the benefits a PEO service provide 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
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.
What Are The 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.
Can Using A PEO Lower Your Workers' Comp Rates?
Absolutely! PEOs improve the employer's cash flow by reducing or eliminating large down payments and state fees, associated with traditional work comp policies. Plus, 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.
ELQ eliminates the hassle of interviewing countless providers and delivers the PEO solution that make sense for you. Give us a call. Since 2001 we've saved thousands of employers millions of dollars in insurance premiums, while giving those more time to work on the things that really matter - like growing your flooring business.