Cutting Costs by Partnering with a PEO
Business owners all know firsthand that there is no lacking of hard work that must be put into running a company. Between paperwork, handling new employees, communicating with clients, and countless more tasks, the work seems endless. Worst of all, with the incredible amount of administrative work that you are swarmed with for the day-to-day running of your business, you may find yourself with no time to get to the work that you would rather be doing. This is where a professional employer organization (PEO) can benefit you.
Assistance with Benefits
Because a PEO operates as a partnership with its clients, it brings with it the benefit of operating as a larger entity. For instance, when looking to offer benefits to your employees, it can be more expensive for a small company to purchase insurance for ten employees than it would be for a large company to purchase insurance for 1,000 employees. Since a PEO has several clients with several employees, the PEO can offer insurance across the board to all of its clients at the low rate that a larger company would have. That higher buying power saves your company money while proving your valuable employees with the coverage they deserve. Varying by state, the savings from hiring a PEO can be as high as $2400/employee, but the savings don’t stop there. Because of their high buying power, a PEO can also provide 401k programs along with many other perks such as dental insurance.
Maximizing Your Efficiency by Handling Compliance
Compliance describes a very specific set of rules required by the government to run a business. From worker’s compensation to tax forms, the list is long and complicated. So complicated in fact that it would be unwise and costly to hire employees or even whole departments for all of the aspects within it. A PEO reduces those needs by providing expert guidance for all of the rules and regulations encompassed within employment and labor compliance.
Minimize Your Costs with PER
A partnership with a PEO has amazing benefits that cannot simply be glanced over. When starting a business and looking to reduce your costs, consider how easy running your business will be after partnering with Professional Employer Resources (PER). We offer assistance in all of your administrative needs such as payroll, workers’ compensation, human resources, employee benefits, and so much more. For more information, call us today at 888-599-4991 and receive a cost-free analysis.