How Can A PEO Help Your Landscaping Business?
Professional Employer Organizations, also known as PEO services, have been helping landscaping companies for almost 40 years, offering the following benefits:
Discounts of up to 40% on workers' compensation insurance, with no audits on a pay-as-you-go program.
- Payroll outsourcing for less than in-house costs.
- HR help for everyday employment issues, including tailored employee handbooks and workplace safety manuals.
- Employee benefits options such as group healthcare, vision, dental, supplemental, and 401(k) plans.
How Do PEO Arrangements Work?
Also called co-employment, this unique situation allows businesses to outsource all liabilities and HR management, while still maintaining the day-to-day control of their employees. The business owner continues to maintain control over their operations and retains the ability to hire, fire, train, reprimand and schedule their employees. The PEO becomes the employer of record for tax purposes and is responsible for all of the human resource related tasks, such as paying the employees and providing the benefits.
What Can A PEO Do For You?
PEOs have experienced double-digit growth each year for almost two decades now. Why? Because unloading work that doesn't drive revenue and takes time away from opportunities that do, allows for growth of your landscaping company.
- Between 2008 and 2017, the number of worksite employees employed in the PEO industry grew at a compounded annual rate of 8.3 percent. This is roughly 14 times higher than the compounded annual growth rate of employment in the economy overall during the same period.
Businesses in a PEO arrangement grow 7-9 percent faster, have 10-14 percent lower turnover, and are 50 percent less likely to go out of business.
PEOs are able to offer a broad array of HR services at a lower cost, and offer access to retirement plans to small business that may not otherwise sponsor them.
PEOs provide services to 175,000 small and mid-sized businesses, employing 3.7 million people.
- There are currently 907 PEOs in the United States.
Each PEO is different, just like any business has different benefits and services. They specialize in different industries, states, and employee size groups. And of course their pricing varies dramatically, too.
ELQ provides the expertise and experience in the PEO market to help you access the perfect PEO program for your landscaping operations. Call today and see the benefits - we're here to help.