PEO Service Benefits
Employers use a PEO company, so they can stay focused on their core operations. Outsourcing payroll and HR tasks, along with risk management and benefits administration, allows your Minneapolis business to give complete attention to work that drives revenue and growth.
PEO Service Advantages:
- Complete payroll administration including tax reporting, tailored reports, direct deposit, garnishments and more.
- Access to group healthcare, life, dental and vision insurance – even 401k savings plans.
- HR experts to help with employment related issues, as well as state and federal compliance laws.
- Minnesota workers' comp insurance savings. Little to no money down. No policy or state fees. No audits.
Who Uses A PEO?
Currently, PEOs work with between 156,000 and 180,000 small and mid-size businesses, employing between 2.7 and 3.4 million people. With over 900 PEO companies in the US, any business can find value these services.
How Does A PEO Work?
Your company enters into a shared or co-employment relationship. The PEO becomes the “employer of record" and is responsible for workers' compensation, payroll and tax reporting, employee benefits management, unemployment claims, and other HR related administrative tasks.
You maintain direct control of the day-to-day activities of your employees, while the PEO company absorbs many employer-related liabilities. The only differences you'll notice when using a PEO are lower employment costs and more time for profit producing activities.
What Are The Costs?
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 businesses who utilize a PEO service grow 10% faster, are 50% less likely to go out of business and experience an average of 22% less employee turnover.
Why Us?
Choosing a PEO service is a big decision and we treat it that way. We listen to your needs, ask questions and create solutions that produce a positive impact for your Minneapolis business. You'll save the time spent calling dozens of PEOs and filling out countless questionnaires as we've done the vetting for you.
Use our expertise and leverage to make sure you're getting the best PEO at the best price. We've been helping business owners find their unique PEO since 2001, so give us call and let's see how your business can benefit.
