Why Use A PEO?
A PEO service, also known as employee leasing - can be a great solution for reducing employment costs, liabilities and administrative work for any Missouri employer. Some of the benefits these HR outsourcing companies provide include:
- Big discounts on Missouri workers' compensation insurance, with no audits or down payments.
- Human resource services for reduced employment liabilities and risk management.
- Access to affordable employee benefit plans.
- Reduced unemployment taxes in some states due to state experience rating.
Time, is the biggest and most notable benefit you'll appreciate when using a PEO company's services. Like most businesses, too much time is spent on non-revenue tasks. Work such as payroll, tax reporting, employee garnishments, employee benefits management and workplace safety meetings to name a few.
Workers' Comp Costs With A PEO
Big savings on Missouri work comp rates provide a great opportunity to reduce costs and improve margins. A PEO company offers their "master policy" to clients, which enable businesses to access immediate savings, with little to no money down. Plus, outsourcing payroll combined with their work comp plan produces a perfect audit each pay period.
What Are The Costs of a PEO Services?
Average administrative costs are between 2-4% of annual payroll. This means if your 8 employee, $300k annual payroll was charged 2.5% - the costs for all HR services would be $7,500.
Because each PEO is different, just like your business. Different in services, benefits, insurances and of course pricing. We've done the vetting, made the visits and understand which clients best fit a particular PEOs industry preferences..
While some specialize in construction, or transportation for savings on workers' compensation premiums. Others may target medical and legal professionals to improve employee benefit offerings. Ask questions and get answers that make sense. Call today and see how a PEO can benefit your Missouri business.
Springfield | Kansas City | St. Joseph | Columbia | St. Louis