Benefits of Using a PEO for Your New Hampshire-Based Business
Using a PEO service for your New Hampshire-based business can help streamline a business towards success by taking care of much non-income-producing work. Many New Hampshire PEOs offer workers' compensation insurance rates, with no audits or down payments, employment verification, risk management, and much more.
By partnering with a PEO service provider in New Hampshire, businesses will be able to command better day-to-day business decisions positioning your business as an employer of choice, while making HR much easier to manage.
Some of the most common PEO benefits include:
- Better Medical Benefits
PEOs offer a range of life and health insurance as well as supplemental policies.
- 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.
- Retirement Planning
Many PEOS offer a variety of retirement savings plans including 401(k).
- Compliance Enforcement
Professional HR experts offer valuable assistance on compliance and employment-related issues that reduce liabilities.
- Workers’ Compensation
Pay-as-you-go workers' compensation insurance, with little to no money down and no annual audits at discounted rates.
- Employee Assistance Programs (EAPs)
Some PEOs will offer EAPs to help with life/family needs.
How Does A PEO Relationship Work?
The PEO company becomes the employment administrative arm for your New Hampshire business. Payroll, tax reporting, benefits management, workplace safety 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, but with more time to focus on sales, service, and growth.
How Much Does A PEO Cost?
Most PEOs charge an administrative fee that averages between 2-4% of your annual payroll. Compared to in house costs of 8-15%, based on the Small Business Administration's (SBA) statistics - PEOs are a bargain!
Top PEO Companies in New Hampshire
ELQ has been working and vetting PEOs since 2001. We have the experience that employers in New Hampshire need to find the right fit for their businesses. We are the nation's premier PEO broker and take pride in saving you and your business time and money. Let us do the detailed work of matching you with your ideal PEO so you can do your best work.