PEODEPOT HELPS
We are committed to helping business. For Over 20 years, we have reduced business
owners costs and liabilities by outsourcing their non-revenue generating administrative
functions such as workers’ compensation, benefits, payroll and human resource to
PEO firms that will fight to earn your business.
We will shop
PEO Firms to see which one wants to earn your business.
Give us a call, we will be happy to do the work for you.
Which PEO Is Best For You?
Let Us Help!
THE BENEFITS OF A PEO
You probably already know that PEOs offer workers' comp insurance, payroll, benefits
and HR services. But you may not realize the full impact of services that PEOs provide.
Did you know that PEOs handle all unemployment claims? The claims process can be
a huge burden for small businesses. By "handle" these claims, we mean negotiations,
telephonic hearings; these are all done on the employer's behalf. Since PEOs assume
a partnership role, they take this off of your plate and allow you to focus on things
that matter most: growing your business, and making it the best it can be.
Ever have problems ensuring you're OSHA compliant? These rules and regulations are
in constant shift, where there are addendums and adjustments to what you thought
was up-to-date. PEOs help your business become OSHA compliant and also assist with
safety plans and procedures. PEOs offer resources and materials for specific industries
to assist you with safety, and to provide safety program support to minimize any
work-related injuries or fatalities. As an added bonus, a PEO can also conduct complimentary
safety audits of your jobsite and do your end-of-the-year OSHA 300 reporting.
Payroll administrative work can eat up a lot of your time and resources. What many
employers don't realize is that most PEOs process all your W2s, 940s, and 941 forms
for you. Missing a quarterly tax form submission can be very costly for a small
business. Most payroll companies charge between $5.00-$8.00 per form, but our PEOs
includes this in their pricing. PEOs also provide the following with payroll services:
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Process payroll
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Pay taxes to the appropriate department
(federal, state, local gov't if need be)
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Garnishments
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Track Sick Days and PTO
Employee Benefits have taken on a whole new meaning and priority with the Affordable
Care Act. PEOs support clients with the tools necessary to make wise decisions about
whether to sponsor a health plan, what plans to choose, and how to avoid the employer
mandate tax penalty. In addition, many PEO's will support the reporting requirements
of the ACA (1094s, 1095s, and exchange notices) for client companies.
Most people know that PEOs can offer larger group health plan rates and manage health
plans for clients. But are you aware that through a PEO, your employees can elect
certain benefits that are not employer-sponsored? Basically, this means as an employer,
you don't have to contribute funds to offer great benefits. Examples of the benefits
your employees can elect directly through some of our PEOs include:
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Dental
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Vision
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Term life insurance
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Cancer policies
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Accident and critical illness policies
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Disability insurance
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Pet insurance
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Identity theft protection
Many people seek employment with companies who offer retirement benefits through
a 401(k), and while these plans are adopted at the employer level, the employer
expense can be zero. That's because with a modest number of employees participating
in the plan (approximately 8), the administrative minimums can easily be met. Employers
can decide whether to match or not match plan contributions, so these plans are
very flexible and affordable.
There are significant financial benefits to owners and highly compensated managers
who participate in Safe Harbor 401(k) plans. Additionally, adopting the PEOs 401(k)
plan means employers don't have the worry regarding fiduciary responsibility, investment
committees, performing ADP/ACP/top heavy testing, plan audits, maintaining plan
documents, and Form 5500 filing. This makes PEO-sponsored 401(k) plans a huge advantage
for business owners in terms of administrative time and costs.
This may seem obvious, but HR services encompass a wide array of tasks. In fact,
many employers may be letting a lot of important HR tasks fall through the cracks.
It's difficult to be great at HR when you went into business to do something else.
That's where a PEO thrives -the PEOs certified HR experts can easily support good
HR practices that you don't have the time and experience to accomplish on your own.
PEOs can guide you in the creation of an employee handbook to factor in the most
recent laws. PEOs can give you guidance on employment practices, compliance and
procedures. For example, our PEOs have developed a full array of tools to help business
owners decide the best ways to comply with the Affordable Care Act: Pay or Provide
Decision Chart, Calculator Tools for estimating your possible tax penalty, compliant
health plan option charts, and more. And as mentioned before we support the reporting
requirements of the ACA (1094s, 1095s, and exchange notices) for our clients.
Did you know that PEOs can also help with:
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Background Checks
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Wrongful termination claims
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Corrective action
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Termination procedures
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Hiring practices
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Job Descriptions
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Training materials
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Employment verification
The Takeaway
We hope this illustrates some of the services you can take advantage of when you
work with a PEO. So when you are deciding the best options for your business's needs,
consider the PEO model, and if you're already partnering with a PEO, be sure to
get the maximum value.