Why Use A PEO Service?
A Professional Employer Organization (PEO), also known as an employee leasing company - allows businesses to outsource a number of employment administrative tasks, deliver cost-effective payroll services and access great rates on Illinois workers' comp and health insurance.
Outsourcing non revenue related tasks provides more time to focus on business and employee growth. PEOs also offer expanded services like time and attendance, recruiting, employee training, performance management and more.
PEOs keep you in compliance with complex federal, state and local regulations. They manage all unemployment and workers' compensation insurance claims. Provide ACA compliance administration, while offering large company benefit packages to help you attract better employees.
PEO Workers' Comp Advantages
PEOs co-employ thousands of businesses, so their power in work comp premium provides huge savings up front. This allows business owners to take advantage of savings, which are usually only available to those who qualify for larger group rates. They are also able to save you money long term with effective risk and claims management. Additionally, the PEO's pay-as-you-go program helps employers avoid down payments and policy fees.
More Work Comp Benefits Include:
- No Down Payments
- Pay-as-you Go Plans
- No Audits
- Claims Management
- Timely Certificates of Insurance
How Does an Illinois PEO Company Work?
When you use a PEO, you're entering into what's called a co-employment arrangement. Simply stated, the PEO acts as your back-office partner managing dozens of employment related administrative work.
As the business owner you report your employees' payroll to the PEO, then they send you an invoice for the total amount owed for the workers' compensation, matching governmental taxes and the PEO's administrative fees for processing your payroll.
This is billed on a pay-as-you-go basis, eliminating workers' compensation insurance audits. You continue to hire, train and run your business as normal. The only changes you'll notice are lower employment related costs and more time to spend on profit producing tasks.
We've been in the PEO industry since 2001 and are experts in the HR outsourcing market. PEOs are all different, offering unique benefits, services and of course pricing. We talk about your company's specific needs to access the perfect PEO solution.
Finding a PEO that best fits your Illinois business takes time and research. We've done the vetting for you - that's all we do! Use our expertise to impact your operations. Call today and get answers to your questions.
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