How Do PEO Services Provide Huge Small Business Benefits?

Between 1980 and 2000, the number of labor laws and regulations grew by almost two thirds as reported by the Small Business Administration, which is estimated that owners of small or mid-sized businesses spent up to a quarter of their time on employment-related paperwork. Over the last decade, more laws and regulations have continued to pound many small businesses into submission, but the skyrocketing use of Employee Leasing services, also known as Professional Employer Organizations (or PEOs) have given employers a life raft they desperately need to compete and survive.

There are four core services that a PEO provides for a business: Payroll, workers' compensation, employee benefits and human resource services. Here's a quick summary of the benefits of each and how they can impact your business.

Payroll Outsourcing Benefits:

Avoid IRS Penalties

According to the IRS, 40% of small businesses pay an average penalty of $ 845 per year for late or incorrect filings.

Accountability

If paychecks are delayed or paperwork is mishandled, the employee leasing service is responsible to fix things.

Security

Do you have the time and energy to closely supervise your business's payroll for time and rate abuses and other shady activities?

Garnishment Deductions

Printing extra checks for child support payments, IRS and other wage garnishments takes time and costs you money. An employee leasing provider will manage these tasks.

Direct Deposit

Small businesses recognize that employees want direct deposit. Not having to make a trip to the bank is an important convenience for them and reduces wasted productive time for you.

Free Up Free Time

Payroll processing is a time-consuming process. Outsourcing payroll can free up staff time to pursue more important value-added and revenue-generating activities.

Alleviate Pain

Payroll is a headache in the best case and a nightmare in the worst case. Business owners who outsource payroll through a PEO service eliminate a tiresome source of personal pain.

Avoid Technology Headaches

Keeping up with the latest version of payroll software programs and the most recent tax tables isn't easy and requires and regular investment. Using the wrong tax tables can result in stiff penalties. Outsourcing payroll with an employee leasing company removes those headaches and keeps payroll running smoothly.

Workers' Compensation Benefits :

No Money Down

Create more cash flow without paying thousands of dollars down to access a work comp insurance policy.

Huge Savings

An employee leasing provider can immediately save you up to 40% (or more) on your workers' compensation insurance compared to traditional policies.

Pay As You Go

Workers' compensation insurance costs are based on a percentage of payroll. The insurance premiums are automatically deducted by submitting payroll through the employee leasing provider.

No Audits

No more silly math formulas to figure out, or time wasted on annual audits, streamlining the services of payroll and work comp through a PEO service eliminates the arguments.

No Silly Fees

State expense fees, terrorism fees, etc. costs hundreds of dollars – all for the privilege of having work comp coverage! Eliminate ridiculous fees with through a PEO provider.

New & Small Company Benefits

Traditional work comp carriers want to cherry pick the most profitable clients, leaving new or small companies without options or only state assigned risk pool coverage which cost a fortune. Even the smallest business can obtain competitive workers' compensation insurance through an employee leasing provider.

Bad Claims History Options

Claims happen! What shouldn't happen is a punishment so severe your ability to compete or even stay in business is in jeopardy. Employee leasing companies will view your whole history not an isolated incident or time period of bad luck.

Big Company Benefits at Reduced Rates:

Group Major Medical Plans

Discounted rates on group health care plans through providers such as Blue Cross Blue Shield, Humana, Aetna and United.

Dental and Vision Plans

Multiple choices and options for even the smallest business.

401 (k) Retirement Plans

No fees, online support access to accounts – even contributions to your account by the PEO!

Life / Disability Insurance

Diverse options for employers and employees. Educational and enrollment support.

Flexible Spending Accounts & Health Savings Accounts

Get creative, specifically designed plans for your business.

Supplemental Insurance Options

Multiple, cash benefit plans such as Aflac, Combined and Colonial.

Human Resource Outsourcing Benefits:

Administration of unemployment claims.

Proper employee verification and performance procedures.

Customized employee handbooks.

Training and seminars for management and employees.

ADA, FMLA, EEO, compliance / employment regulations.

Consult and draft employment policies in both English and Spanish.

On-call support from professional Human Resource experts with extensive legal and HR knowledge.

A PEO service can drive down your employee related costs and give you more time concentrate on growth. Choosing the right employee leasing provider will determine how much you'll save and the benefits you'll receive. Employee Leasing Quotes.com is the easiest way to get competing quotes from top rated providers that can deliver the services your company needs.



Source by [lakajira]

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