What is a PEO?
A PEO stands for Professional Employer Organization, but many employers in the remediation industry have called it a lifesaver over the years. The core benefits are time savings and reduced employment-related costs. The advantages a business can gain from a PEO service include:
- Pay-as-you-go workers' compensation insurance with no audits or down payments
- Payroll outsourcing services and tax liability payments including quarterly and year-end reports, wage garnishments, direct deposit and more
- Unemployment claims and compliance assistance
- Affordable healthcare, dental, vision, supplemental, and 401(k) plans.
When you work with an HR outsourcing firm, administrative energy can now be focused on sales and service. The Small Business Administration reports that the business owners spend roughly 7% - 25% of his/her time just handling employee paperwork.
Does a PEO Help with Workers' Comp Rates?
Often, obtaining workers' compensation insurance at reasonable rates is a big challenge for a restoration business. That's where a PEO can help. These companies improve the employer’s cash flow by reducing or eliminating the down payments normally required with the purchase of workers’ comp. Plus, depending on the size of the employer joining the PEO, the premiums may be paid on a pay-as-you-go pay basis.
PEOs offer big discounts on work comp rates, and can even help those who have many claims or high E-mods. Other work comp benefits with a PEO include:
- OSHA Compliance
- Easy Certificates of Insurance
- Efficient Claims Management
- Risk management and Safety Programs to Prevent Injuries
- Return-to-Work Programs
How Does ELQ Help?
ELQ was founded in 2001, and we are expert resources in the PEO employee leasing industry. Our negation and leverage ensure you get the BEST pricing and service. We an can answer any questions you may have, and pride ourselves on providing excellent customer service.
Give us a call today and see how a PEO solution can help your business grow and succeed!