What is a PEO Company?
A Professional Employer Organization (PEO), is a HR management service for small- and mid-sized businesses, providing services such as workers’ compensation insurance, payroll, employee benefits administration, claims management, and compliance assistance. Driving down employment costs and giving you more time for money-making opportunities is what a PEO will do for your manufacturing operations.
Benefits of Using a PEO
- Big discounts (up to 40%) on pay-as-you-go workers' compensation insurance, with no audits. Plus, no money down options for greater cash flow!
- Payroll outsourcing means relief from employment liabilities and HR compliance demands. Everything from payroll tax deposits, 940 and 941 filings, employee garnishments and more.
- Group healthcare and other employee benefit options, like vision, dental - even 401(k) savings plans.
- Complete HR Administration, including safety and regulatory compliance
- Loss Control Management
- Claims Management
- Direct Deposit/ Check Printing
- Unemployment Assistance
What Do PEO Services Costs?
PEOs charge an administrative fee based on your annual payroll, that averages between 2-4%. Compared with in house costs of 8-15%, based on a Small Business Administration (SBA) statistic - PEOs are a bargain! But each provider is different, with unique service and benefit cost offerings. This is just one way we help you through the process.
Can PEOs Help Multi-State Employers?
Some. Out of over 900 PEO companies in the US, only a small percentage are licensed in multiple states. The majority of PEOs service clients in their state only. Over time in many cases, a PEO has clients that border on neighboring states and have work opportunities in those states. This is when the PEO will invest in licensing and the applicable accounts needed to do business in the new state.
Why Use ELQ?
Outsourcing work that doesn't produce income just makes sense, and gives your manufacturing company an advantage on the competition. ELQ is where you'll find the PEO service that can deliver the best benefits you need. We’ve been PEO experts since 2001 and we know the industry top to bottom. We’ll be your best resource to provide a PEO that can best help your unique situation.
Give us a call, there's no obligation. See what opportunities could impact your business in a positive way.