PEO’s function as Professional Trusted Advisors exactly like your Attorney, CPA, and Insurance Agent!
PEO's like your other Trusted Advisors provide professional expertise, advice, and indemnify you against exposure to risk from legal violations, accident damages, and negligence damages. All of which are already outsourced!
Through a legal Co-employment agreement recognized by the IRS the PEO becomes employer of record only for Payroll, Workers Compensation Insurance, Unemployment Insurance and all payroll related withholding tax compliance. Developments appear to be leaning in the direction that a PEO will be a powerful tool in compliance with the Healthcare Affordability Act, or Obamacare.
A qualified PEO becomes your corporate H.R. Department and produces all payroll related work product from the checks , tax deposits, W2's, and more. Peo's also bring to the table discounts on Workers Compensation Insurance, Group Benefits, write Employee Policy Guidelines, Human Resources counseling and much, much more. You the client still decide who you hire, what you pay, when they work, Safety, and terminations. Peo’s stay out of the operating decisions about your employees while keeping you compliant and enhancing the attractiveness of your hiring package through greater access to affordable benefits.
I have been on both sides of the table in this equation and it is smart money to focus more on the operations and not on the compliance headaches. The key decision is whether you regularly analyze what it is costing you to run your business and how do you compare Apples to Apples? We have the Answer!
Many PEO’s have the technology to interact with the time keeping systems, electronically perform enrollments privately online, pro-vide employee access to records and benefit plan status and more.
The PEO Industry has evolved over the last two decades to a highly respected and specialized service with trained professional staff that efficiently and proficiently handle everything from production of payroll, unemployment management, workers compensation claims administration, employee policy guidelines, safety and risk management. A true professionally run PEO is right on par with a Bank or Insurance Carrier in professionalism and compliance.
All this while keeping up with pending legislation and sorting out the most efficient ways to ensure our clients are informed and protected! PEO is an option well worth your time and consideration! If you are considering a PEO check us out we represent most of the nations top PEO's as a brokerage and can get you multiple quotes with one phone call. You only deal with one person and don't have to sit through multiple meetings with a half dozen sales reps.