Top 10 PEO Facts
10 Things You Didn’t Know about PEO. When working with a Professional Employer Organization (PEO) offers small to mid-sized companies (5 - 2,500 employees) many advantages in today’s very competitive climate. If you are considering working with a PEO, here are 10 Things You Didn’t Know - but should - about their services. PEOs:
Our Operating Goals:
- 1Eliminate your exposure to and reduce your liability for personnel management issues.
- 2Provide high-end employees services - including Fortune 500-level benefits - that attract the most desirable employees at significant cost savings.
- 3Take over the responsibility for complicated and ever-changing, non-revenue producing tasks, allowing you to focus on your bottom line.
- 4Manage Payroll Administration duties from direct deposit of wages into bank accounts to tax changes administration.
- 5Partner with best-in-class service providers - from medical insurance firms to worker’s compensation organizations.
- 6Cover Benefits Administration from 401K to COBRA plan administration.
- 7Train, educate and guide your Human Resources staff on complex and emerging issues.
- 8Handle Worker’s Compensation Administration responsibilities from safety audits to OSHA compliance.
- 9Manage Human Resources Administration including background checks, employee policies communications and unemployment claims administration.
- 10Give you a competitive edge by streamlining your HR, Payroll, Benefits and Worker’s Compensation services.
- 11Businesses that use PEOs for at least 4 quarters are approximately 50% less likely to go out of business.*
- 12Annual employee turnover is 10–14% less for companies that use a PEO.
More and more companies are using PEOs to save time, frustration and money. Top 10 PEO Facts are important to determine if a PEO is right for your company. Let us do a free, no obligation analysis to determine what a PEO can do for you.
Statistics and facts are provided by NAPEO, 2019.