Trucking PEO Service Benefits
A Trucking PEO company can save you money on insurance costs, reduce employment paperwork, and give you more time to focus on critical business issues.
Trucking benefits include:
- Complete payroll administration
All-inclusive payroll services with a PEO includes processing, printing and delivery of payroll checks, tax reporting, withholding and pay of all garnishments, annual W-2s, and unemployment claims management.
- Driver DOT files
Remove the time-consuming work involved in screening, hiring, and maintaining employee records. Personnel files can include annual reviews, MVRs, physical and drug screen results to name a few.
- Workers' compensation insurance
Reduce trucking work comp insurance costs with big discounts on a pay-as-you-go program with no policy fees or audits.
- Risk management services
Losing medical control to a doctor or lawyer group significantly increases the overall cost of a claim. Maintaining medical control and communication with competent doctors results in returning employees to work with little to no lost time.
- Access great employee benefits
With the large group buying power of a PEO, your trucking organization can offer the same benefits as many Fortune 500 companies. A recent study by the National Association of Professional Employer Organizations (NAPEO) found that only 4% of clients had access to a 401(k) plan before entering into a PEO relationship, but 86% had access after joining a PEO.
What Do PEOs Charge for Services?
PEOs use one of two pricing models for their administrative fees. The most common is a percentage of your annual payroll and that is typically between 2% to 4%. Another structure utilized is a fixed yearly fee per employee and that averages between $700-$1,200. The percentage model is easy to calculate with your company’s payroll. Some businesses may benefit from the flat fee, because it doesn’t tie a PEO’s cost to employee’s compensation.
PEOs enable their customers to focus on business growth and profitability by outsourcing the time-consuming tasks of employee administration - and that’s what it’s all about. As a nationwide PEO brokerage, understanding your business needs and employee compensation is just one way you’ll save big with ELQ.
Trucking Work Comp Savings With a PEO
Trucking PEO companies can provide an immediate cost savings with their master workers' compensation insurance policy. With hundreds of trucking clients producing millions of dollars in insurance premiums, good risk management practices allow for a quicker reduction in the PEO's experience rating (xmod).
The PEO passes those savings on to their clients, and even trucking companies with poor claims experience can benefit. The average savings is between 17%-20%, but some businesses can experience even greater savings based on their state of operations. The PEO performs a direct audit each pay period, so you’ll never deal with the headaches of compiling data and an unwanted surprise.
Find Trucking PEO Companies for Your Business
Choose the easy way to access a trucking specific PEO for your company and call ELQ. We’ve done the work for you, vetting hundreds of PEO providers from across the country for over 20 years.
Whether you need to improve your employee benefit offerings, lower workers’ comp costs, or remove the headaches and liabilities associated with payroll and HR – we can help. As the nation’s leading PEO brokerage, our process is simple and we give you answers to your questions that make sense. Call today, or request a trucking PEO quote and see how your business will benefit.