What Does a Nevada PEO Do?
There are a number of great benefits for employers looking to partner with a PEO. One of the biggest advantages is the time savings that business owners are able to achieve by outsourcing the headaches of payroll and employee management. 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.
Benefits of a Nevada PEO Service
The PEO company becomes the administrative branch for your Nevada operations. Payroll, tax reporting, workplace safety, benefits administration and many other employee related issues are outsourced for much less than in-house costs. As the employer, you continue to run the day to day operations as usual - but now with more time to focus on growth.
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 PEO benefits include:
- Workers’ Compensation
Pay-as-you-go Nevada workers' compensation insurance, with little to no money down and no annual audits at discounted rates.
- Retirement Planning
Many PEOS offer a variety of retirement savings plans including 401(k)s.
- Better Medical Benefits
PEOs offer a range of life and health insurance as well as supplemental policies.
- Employee Assistance Programs (EAPs)
Some PEOs will offer EAPs to help with life/family needs.
- 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.
- Compliance Enforcement
Professional HR experts offer valuable assistance on compliance and employment related issues that reduce liabilities.
How Much Do PEOs Cost?
Many PEO providers base their service charges on the clients gross annual payroll and that averages between 2-4%. Outside of this, some programs offer more robust benefits such as, background checks, life insurance, employee counseling services and much more.
Some include these benefits in your administrative fee, while others charge as a la carte. Understanding your business history and needs where a PEO will create impact is just one of the many ways we can help.
PEO Workers' Comp Advantages
PEOs partner with thousands of businesses, so their power in work comp premium provides huge savings up front. This allows business owners to take advantage of immediate savings, while accessing effective risk management services. Additionally, the PEO's pay-as-you-go program helps employers avoid down payments, policy fees and eliminate audits.
Payroll services also provide an audit each period to insure accuracy. Every Nevada PEO has specific workers' compensation classifications they can/ cannot cover mandated by their Workers' Compensation insurance policy or other carrier arrangements.
Other Nevada PEO Workers' Compensation Benefits Include:
- Easy certificates of insurance
- Return to work programs
- Risk management and safety programs
- OSHA/ DOL compliance
- Improved cash flow with pay-as-you go plans
- Partnerships with A rated carriers
Finding a PEO Provider in Nevada
For over two decades, ELQ’s experts have helped Nevada business owners access a PEO solution that impacted their operations. Every PEO and every business working with a PEO is different. ELQ ‘s expertise ensures your Nevada business is matched with the right PEO. ELQ has been researching and vetting hundreds of Nevada PEO providers since 2001, so you don't have to! Professional employee organizations differ in their industry preferences, employee sizes, benefits, services and of course costs. For example, one may include background checks, or pre-hire drug testing in their management fee, while another charges on an a la carte basis.
Your business is unique to any other. ELQ understands each business has specific needs and requirements that need to be met. Whether you work in construction and need relief from high Nevada workers' compensation rates, or own a medical practice where employee benefit help is essential, ELQ can help. We know the PEO market and how to help your operations save time and money. Request a Nevada PEO quote today!