How Can A PEO Help Your Hospitality Business?
Managing a restaurant, bar or hotel requires talented individuals who know how to multitask. Dealing with payroll administration, insurances and other employment HR issues, takes time and doesn't produce a dime of revenue.
Benefits of Using a PEO Include:
- Big discounts on pay-as-you-go workers' compensation insurance
- No workers' comp audits
- Outsourced payroll and relief from liabilities and HR compliance demands
- Healthcare and other employee benefit options. Vision, dental - even 401(k) savings plans.
- Complete risk management services
- EPLI options
- Background checks
- Supplemental insurance options
- Safety training
What Kind of Businesses Use A PEO Company?
As of 2017, PEOs provide services to 175,000 small and mid-sized businesses, employing 3.7 million people. The industry continues to see double digit growth each year in the past two decades, with more than 900 PEOs now in the U.S. alone. PEOs can benefit almost any industry, and work in every state.
How Much Do PEO Services Cost?
Average administrative costs run between 2-4% of your 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 that 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.
What Are The Contractual Obligations?
Most PEO companies have a yearly service agreement. Within the agreement in many cases, a clause is included where either party can exit the relationship provided a 30 day notice is given. The service agreement includes the proposed rates for annual services, as well as both party’s obligations throughout the year.
Why Choose ELQ?
Founded in 2001, Employee Leasing Quotes is one of the oldest and largest nationwide brokerages in the industry. Our goal is to provide a PEO company that will best fit each unique business. PEO companies are all different in how they work and what they specialize in. Our expertise ensures you get the best fit for your hospitality business. Plus, our negation and leverage in the industry ensures you get the BEST pricing.
Check out our many customer testimonials, then give us a call, ask questions and see how your business can benefit.