Benefit of using a PEO for your Business, for your Employees and for the Government.
For your business, a PEO:
· Provides experienced professionals in HR, benefits, payroll and risk management.
· Assumes certain employment related liabilities.
· Delivers professional assistance with compliance (payroll, OSHA, EEOC).
· Provides secure Internet access to payroll, benefits and personnel data.
· Provides access to professional HR guidance and materials.
· Manages claims.
· Supplies clear, easy-to-read and professionally written employee handbooks, policies, procedures and practices.
· Improves cost control.
· Delivers access to better benefits.
· Reduces turnover.
· Provides quality benefits and recruiting assistance to attract and retain the best employees.
· Provides you more time to focus on your bottom line.
· Gives you the opportunity to grow your business faster.
For your employees, a PEO:
· Provides access to comprehensive benefits often previously unavailable – 401(k), Section 125 plan, comprehensive insurance benefits, Flexible Spending Plan.
· Delivers on-time and accurate payroll.
· Provides professional assistance with employment-related issues.
· Supplies easy-to-read employee handbooks, policies, procedures and practices.
· Enables more employees to receive statutory protection.
· Improves communication among and between employees.
· Offers up-to-date information on labor regulations, workers’ rights and worksite safety.
· Processes claims efficiently and responsively.
· Enables employees who move from one PEO client to another to avoid loss of eligibility for benefits.
· Provides improved access to payroll information, benefits, personnel data, vacation and sick time accrual, and specialized reports.
· May offer credit union membership and banking privileges.
· Frequently offers exclusive employee discounts and rates on travel, entertainment and services.
For government, a PEO:
· Consolidates several companies’ employment tax filings into one.
· Provides more professional preparation and reporting.
· Accelerates collection of taxes.
· Extends access to medical benefits to more workers.
· Provides access to 401(k) retirement savings opportunities to more employees.
· Improves the communication of government requirements and changes to small businesses and their employees.
· Reduces litigation by resolving many problems before they reach court.
· Allows government agencies to reach businesses through a single-employer entity.