What is a Utah PEO Company?
A PEO service allows you to outsource employment administrative work for less than you can do on your own, giving you more time to focus on growing your Utah business. Administrative work such as payroll and tax filings, safe workplace, unemployment claims hearings and more can all be outsourced with the help of a professional employer organization. All of these essential tasks are vital to the success of your Utah business; having an expert team from a PEO can help ensure they are completed correctly and on time.
Benefits of a Utah PEO Service
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.
Some of the most common PEO benefits include:
- Better Medical Benefits (Group healthcare, Vision & Dental)
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)s.
- Compliance Enforcement
Professional HR experts offer valuable assistance on compliance and employment related issues that reduce liabilities.
- Workers’ Compensation
Pay-as-you-go Utah 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
Advantages of Using a Utah PEO for Workers' Compensation
PEOs have many benefits, but one of the biggest lies in the master workers' compensation insurance policies for their clients. Most businesses experience immediate savings on rates, while avoiding down payments and state fees. Payroll services also provide an audit each period to insure accuracy. Every Utah PEO has specific workers' compensation classifications they can/ cannot cover mandated by their Workers' Compensation insurance policy or other carrier arrangements.
Other Utah 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
How Much Do Utah PEO Services Cost?
Utah PEO companies either charge a fixed percentage of your total payroll, or a flat fee per employee. All professional employment organizations charge different rates. Your rate charged will also depend on the amount and type of administrative services needed.
Save Money by Using a Utah PEO
Working with a PEO will also save your business money. Administrative costs when using a professional employer organization range between 2%-4% of your annual payroll. This amount is much less than the average 8%-15% ( evaluated by the Small Business Administrations) when managing similar tasks in-house.
How Does the PEO Relationship Work?
The PEO becomes your "back office" partner, allowing you to outsource work that takes time and doesn't generate revenue. Also known as employee leasing, PEOs provide complete payroll administrative services, human resource and governmental compliance experts that lower your employment liabilities.
Working with a Utah PEO also allows companies to use the PEO’s lower EM (experience modifier). This can be particularly beneficial to companies with prior claims issues and high experience modifiers.
Why Choose ELQ For PEO Help?
Every PEO and every business working with a PEO is different. ELQ ‘s expertise ensures your Utah business is matched with the right PEO. ELQ has been researching and vetting hundreds of Utah 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 Utah 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 Utah PEO quote today!