How Can a PEO Help?
PEOs provide easy outsourcing of payroll, HR and labor law compliance issues. Plus, PEOs can immediately provide big discounts on Michigan work comp insurance and group healthcare. Most importantly, the right PEO company will allow you to unload the administrative burdens associated with employment, giving you more time to focus on growth.
For over a decade now, HR outsourcing has become one of the hottest business trends and continues to experience double-digit growth each year, because it makes good business sense.
How Does the PEO Arrangement Work?
Your company enters into a co-employment relationship with a PEO. With this arrangement, you transfer a substantial portion of the responsibilities associated with employees to the PEO. This includes handling of wage and employment taxes, responsibilities of reporting, collecting and depositing state and federal taxes, and workers' compensation coverage and claim management. Your company continues to retain day-to-day control and direction of your employees.
- PEOs provide services to 175,000 small and mid-sized businesses, employing 3.7 million people.
- There are 907 PEOs in the United States.
- The total employment represented by the PEO industry is roughly the same as the combined number of employees for Walmart (United States only), Amazon, IBM, FedEx, Starbucks, AT&T, Wells Fargo, Apple, and Google.
- The PEO industry's 175,000 clients represent 15 percent of all employers with 10 to 99 employees.
PEO Workers' Comp Advantages.
For some businesses, the rising costs of workers' compensation insurance is their biggest expense. A PEO employee leasing company can save employers up to 40% off their state rates. There are no down payments or policy fees and never any year end audits.
Just like your business, each PEO company is unique. Different in services, benefits, industries served and of course pricing. Use our combined 30 year experience in the PEO, HR outsourcing marketplace to your advantage. Start by calling and getting answers to your questions that make sense. Next, we create a plan of delivering the solutions you need to be more productive, efficient and profitable.
There's nothing to lose and everything to gain, so call today. Since 2001 we've saved thousands of employers millions of dollars in taxes and insurance, while giving them more time to work on the things that matter most. We're here to help.