Roofing PEO Benefits
Accurate named a Professional Employer Organization, because PEO companies focus on everything that has to do with employment. Roofing businesses use a PEO service, to spend their time and resources on sales, service and growth instead of being a “professional employer.” From hiring and retiring, to risk management, payroll and employment HR issues - just a few of the many benefits include:
- Roofing workers' comp insurance savings, with no down payments, policy fees or audits.
- Payroll services, including quarterly and year-end tax reporting, issuance of w-2s, wage garnishments, direct deposit and more.
- Human resource management for employment related issues and compliance with governmental regulations.
- Access to great employee benefits.
Can A PEO Lower My Roofing Workers' Comp Rates?
Absolutely! For many roofing companies, workers' compensation insurance is one of the most expensive parts of running their business. That's where a PEO, aka employee leasing company can really provide relief. Even businesses with a high experience modification factor based on claims can see big savings. Business owners in the roofing industry are federally mandated to supply their employees with workers’ compensation coverage. Most roofing employers work hard to keep their workers safe and free from injury. Roofing is labor intensive and acquiring comprehensive and affordable workers’ comp insurance should be a top priority.
Roofing PEO programs can have a large and immediate impact on cost savings under the PEO's master workers' compensation insurance policy. These companies have hundreds of clients taking in millions of dollars in insurance premiums, so good risk management practices lead to favorable workers compensation experience ratings.
PEO companies can then pass their savings and discounts down to their clients. While average savings range between 17%-20%, some clients experience greater savings based on the work performed and state locations. Even roofing companies with higher xmods based on claims experience immediate savings. No audits are an added perk of using a PEO that manages your payroll along with your workers compensation. The professional employment organization performs a direct audit each pay period.
What Are The Costs For PEO Services?
Far less than in-house costs. Average administrative costs when using a PEO are between 2% - 4% of your annual payroll. For example, if you have a $500k payroll - a 2% management fee would be $10k yearly. Considering complete payroll, work comp, employee benefits, risk management and HR services are included - the value of outsourcing with a PEO can't be beat. More importantly, you'll notice the time savings your roofing company has gained to operate and work on growth instead of paperwork.
How Is Payroll Delivered By The PEO?
Reporting your payroll can be done by phone, email or in many cases through the PEOs secure online portal. There’s a number of options for receiving your payroll including:
- FedEx or courier delivery of checks.
- Direct deposit or Mastercard pay cards (most popular).
- Remote check printing at your office.
Top Roofing PEO Companies For Your Business
Every PEO and every business working with a PEO is different. ELQ ‘s expertise ensures your roofing business is matched with the right PEO provider. ELQ has been researching and vetting hundreds of PEOs since 2001, so you don't have to! Professional employee organizations differ in their industry preferences, employee sizes, benefits, services and of course costs. For example, one may include background checks, or pre-hire drug testing in their management fee, while another charges on an a la carte basis.
Your roofing company is unique to any other. ELQ understands each business has specific needs and requirements that need to be met. We know the PEO market and how to help your operations save time and money. Give us a call, or request a roofing PEO quote today!