What Are the Benefits of Using a PEO Service?
PEO services are an easy way for businesses to remove payroll liabilities, access great employee benefits and gain big discounts Florida workers' compensation insurance. Outsourcing non-income producing work, gives you the freedom to focus on sales, service and building a better business!
PEO Benefits Include:
- Access to group healthcare plans and other employee benefits.
- Florida workers' comp insurance savings, with no down payments, policy fees or audits.
- HR help, creating handbooks and managing employment regulations.
- Annual payroll administration, tax reporting, wage garnishments and more.
How Does a Florida PEO Work?
When working with a PEO company, your business enters into a shared or co-employment relationship. The PEO becomes the administrative “employer of record" and is responsible for payroll, tax reporting, as well benefits, risk management and more. You maintain direct control of the day-to-day activities of your employees, while the PEO manages the paperwork.
What Do PEOs Charge For Services?
Much less than in-house costs. The average administrative costs in using a PEO service are between 2% - 4% of your annual payroll. For example, if you have a $500k payroll - a 2% management fee would be $10k yearly. With complete payroll administration, workers' comp savings, risk management and HR services included - the value a PEO can't be beat! More importantly, you'll notice the time savings your business has gained to work on growth instead of employment related issues.
Florida PEO Workers' Comp Advantages
PEOs have many benefits, but one of the biggest lies in the master workers' compensation insurance policies for their clients. Most likely, you'll experience immediate savings on rates, while avoiding down payments and state fees.
Other PEO Workers' Comp 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
Why Choose ELQ?
Choosing a PEO is a big decision and we treat it that way. We're licensed insurance agents with over 20 years of experience in the PEO industry. As independent brokers, you'll get all the facts and questions answered up front. We eliminate the concerns, so you're comfortable with your decision.
We've done the research and vetting of hundreds of PEOs from around the country. We take responsibility for the providers we recommend and hold them accountable for the promises they make. We're the only PEO brokerage service that guarantees your satisfaction. Call us today to see how your business can benefit.
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