What Is A PEO?
The human resource management solutions for businesses continue to evolve. One way you can find the perfect fit is by using a PEO - or professional employer organization, which offers payroll and benefits administration on behalf of their clients in need with full service representation at all levels from hiring through retirement!
Why Use A PEO For Your Wisconsin Company?
A PEO, also known as a Professional Employer Organization, is a one stop solution for small and midsize businesses. PEO providers manage all payroll paperwork and employee benefits administration, as well as a wide range of human resource tasks. When this time consuming work is outsourced, it frees the business to focus on growing and maintaining their core business. The employer continues control over the day-to-day functions of the business. The only changes you'll notice are lower employment related costs and more time profit producing tasks.
Some of the responsibilities that the PEO will handle include:
Workers' compensation administration
- Unemployment claims
- Section 125 plans
- Human resource management
- Employee benefits administration
- Complete payroll processing
Plus, save up to 40% on Wisconsin workers' compensation insurance pricing compared with state rates and gain access to big company employee benefit plans. It can be very beneficial to have a professional HR company take care of your employees' needs. PEOs are experts at navigating through the ever changing world for labor laws, regulations and health care plans and can help ensure you don't get penalties or fines from being out-of-date with what's required by law.
What Type of Businesses Use PEOs?
Any business can find value in these services. Currently, PEOs work with between 156,000 and 180,000 small and mid-size businesses, employing between 2.7 and 3.4 million people. So whether your business is a start-up looking to keep overhead low, or a large business looking to improve efficiency in the HR processes, ELQ can help you find the right PEO for your needs.
What Are Companies Saying About Using A PEO?
According to a recent study by noted economist McBassi & Company:
- 70% have reported their revenues have increased since using a PEO.
- 98% would recommend a PEO to a small business colleague.
- 50% are less likely to go out of business.
- Experience 23%-32% less turnover.
- 66% reported their profitable has increased since using a PEO.
As the nation's leading PEO brokerage since 2001, ELQ is the easiest way to access the right company for your Wisconsin operations. For 20 years, we've researched and interviewed hundreds of PEO providers, understanding their industry preferences, services and costs - so you don't have to.
From staffing firms, to country clubs - every business comes with it's own set of unique challenges and needs. So, whether it's outsourcing payroll services, or reducing work comp rates, there may be only one PEO company that can provide the impact you need. Call today, ask questions and get answers - we're here to help.