What is a Professional Employer Organization (PEO)?
PEO companies take the responsibilities of workers' compensation insurance, payroll, human resources, risk management, and benefits management off the business owner’s shoulders.
PEOs allow employers to focus on growing profits and expanding business opportunities. A PEO also offers smaller businesses the opportunity to attract more talented employees by providing affordable group health and other benefit plans they might not otherwise offer.
Advantages of Using a PEO Include:
Complete HR administration, including safety and regulatory complianceAffordable employee benefits like 401(k) plans, supplemental, dental, vision, and group healthcare options.
- More time to focus on business growth and service
- Payroll outsourcing benefits such as direct deposit, payroll tax filings and deposits, garnishments, and specialized reports
- Big discounts on workers' compensation insurance, with no money down and no audits
Can a PEO Help with Workers' Comp?
Joining a PEOs master workers' compensation policy can produce as high as 40% or more on annual work comp premiums for machine shop employers. But just as important, a PEO relationship can transform your business by streamlining your HR, payroll and benefits under one easily accessible provider.
An employer can often see discounts on their workers’ compensation insurance rates up to 40% state rates. PEOs can also offer you a timely certificate of insurance with no down payment. Plus, you’ll never have to deal with another year-end audit.
How ELQ Helps
ELQ has helped thousands of business owners reduce employment-related costs and can help you, too. We’ve been in the PEO industry since 2001 and we know the industry top to bottom. We’ll be your best resource to provide a PEO that can best help your unique situation.
Give us a call, we're easy to talk to and a 5 minute conversation could be the best business investment you've ever made.