What Does a Montana PEO Service Do?
A Professional Employer Organization (PEO), is an HR outsourcing service for small and midsize businesses, providing workers' compensation insurance, payroll and employee benefits administration, claims management, and governmental compliance assistance. There are a number of great benefits for Montana employers looking to partner with a PEO.
Benefits of Using a PEO for Your Montana Business
Professional employer organizations and many HR outsourcing providers offer Fortune 500 benefits with competitive rates that are accessible for big and small companies. Human resource professionals reduce many employment liabilities by providing assistance with safety and employee handbooks, along with proper hiring and employment procedures. Outsourcing through a PEO provider even manages tasks such as PTO tracking, wage garnishments, multi-state reporting and ACA compliance.
Some of the Most Common Benefits with a PEO Include:
- Workers’ Compensation
Pay-as-you-go Montana workers' compensation insurance, with little to no money down and no annual audits at discounted rates.
- Compliance Enforcement
Professional HR experts offer valuable assistance on compliance and employment related issues that reduce liabilities.
- Payroll Administration
PEOs offer payroll services that generally include paper checks, direct deposit and visa paycards. They can also assist with tax reporting and wage garnishments.
- Better Medical Benefits
PEOs offer a range of life and health insurance as well as supplemental policies.
- Retirement Planning
Many PEOS offer a variety of retirement savings plans including 401(k).
- Employee Assistance Programs (EAPs)
Some PEOs will offer EAPs to help with life/ family needs.
Save Time and Money by Using a Montana PEO Provider
Far less than in-house costs, the average administrative fee when using a PEO service is between 2% - 4% of your annual payroll. For example, if you have a $300k payroll - a 2% management fee would be $6k yearly. Considering complete payroll and benefits administration, along with risk management and HR services - the value of outsourcing with a PEO can't be beat. More importantly, you'll notice the time savings your Montana business has gained to operate and work on growth instead of paperwork.
There are many benefits to using a Montana PEO, but time is one of the biggest reasons business owners say they work with a PEO. Instead of being responsible for the growing list of governmental compliance demands, an employer can focus on growing their business, instead of the business of employment and spend more time improving employee performance.
Other PEO Advantages Include:
- Huge Savings on Workers' Compensation Insurance
- Unemployment Claims Management
- Staying up to date with Montana Employee Laws
- Complete HR Support
- Payroll Management
- No audits
- OSHA compliance
- Risk management and safety programs
Why Use ELQ?
Unloading employment paperwork and liability issues makes good business sense. As the nation's leading PEO brokerage since 2001, ELQ is the easiest way to access the right PEO company for your Montana business. With so many choices, there may be only one that can truly impact your operations.
For 20 years now, we've done the research and interviews with hundreds of PEO providers understanding their strengths, industry preferences and services. Call our team today or contact us through our online form, and get answers to your questions to see if a PEO program could benefit your Montana business. We're here to help.