PEO Benefits For Daycare Services
For decades, PEO employee leasing providers have long been a powerful partner in the childcare industry. They continue to gain popularity for a simple reason. They allow employers to concentrate on running their business, while leaving the risk and liabilities on the PEO. PEOs also offer the opportunity to take advantage of Fortune 500 benefits, which makes it more appealing for employees to join your company.
Other Benefits Include:
- Discounted workers' compensation rates with no audits
- Complete payroll management that includes direct deposit, tax filings and unemployment claims management
- Safety training and employee handbooks
- Access to human resources professionals to help with employment related issues
- Employee benefits that fit any budget
How Does A PEO Work?
PEOs allow you to outsource all the time consuming, administrative work that comes with employment and drives zero income into your childcare business. Imagine unloading the headaches of payroll, tax reporting, workers' comp and unemployment claims to name a few. Simply put, a PEO employee leasing company becomes your back office partner giving you more time focus on the things that really matter, like children, employees and growth.
On average, a PEO specializing in the childcare industry typically charges 2% - 4% of your annual payroll. For example, if your annual payroll was $200k and the PEO service charge was 3% - that's $6k annually for all the services mentioned. These costs are well below the 9% -13% average as stated by the Small Business Administration for managing these tasks in house. While eliminating the purchase of check stock, envelopes, updating payroll tax software and so much more - giving you back more TIME is the biggest savings when partnering with a PEO provider.
How Can ELQ Help?
As the nation's leading PEO brokerage since 2001, ELQ is the easiest way to find the right company for you. With over 900 PEO, ASO and HR outsourcing companies to consider, there may be only a handful that work in the child daycare industry. So, whether it's savings on work comp insurance rates because of a few years of bad claims history, outsourcing payroll, or accessing employee benefits to keep key personnel - we can help. A short call understanding your needs and how these services could benefit your business, could save you thousands of dollars in insurance and time.