Know This About A PEO

Following is a an excerpt from my upcoming Kindle book, Winning The PEO Game. If you are a small business owner the chances are high that you have come across the term PEO. For many business owners it’s not only difficult but frustrating to obtain the information you need to know about a PEO. Below are a list of things I want to share with you from my experience to help you understand a PEO. These are things that I have used to help many business owners save thousands of dollars as well as equip them with the right knowledge and insight to help them make informed decisions for the benefit of their business and employees. Let’s get started.

PEOs allow your company to focus on core competencies. This allows your company to focus on generating revenue and keep from having to spend valuable time and energy dealing with a lot of employee-related administrative tasks.

PEOs keep companies up-to-date with healthcare reform. They have experts that are hired to service your account in each area exclusively, so you can find out what’s happening in the world of healthcare reform as it relates to employers and employees and your company.

PEOs provide federal guidance and compliance information. The PEO is the employer of record, and keeps the client company up-to-date to help in the process of avoiding penalties and fines as well as staying compliant.

PEOs share in the liability of being an employer. For the services that are provided by the PEO, it is a shared liability.

PEOs provide subject matter expertise in many areas related to running your business. A PEO can help in the areas of HR, payroll, benefits, Workers Compensation, compliance/regulation, ala carte outsourcing services, ASOs, recruiting, time and attendance systems, bookkeeping services, risk and safety, and 401K.

PEOs offer integrated technology that manages the costs associated with your employees. This eliminates having the need for multiple vendors as well as redundant tracking and auditing. All the different departments are integrated into one system which improves the reporting capabilities.

PEOs can offer a bundled solution for all of your employee related needs. They eliminate the need for multiple vendors, providers, and systems, and help you gain efficiencies.

Your company can save money by participating in the PEO’s master workers’ compensation and benefit policy. This is through a pooled insurance program, which provides more choices and improves your cash flow with a pay-as-you-go program.

PEOs offer your employees many healthcare plans. PEOs can offer as many as 10 or more different insurance plans from which to choose. The great thing is the employees get the benefit of choosing which works best for their family.

White collar PEO providers offer clients a fortune 500 set of benefits. This type of PEO can help your company compete with larger public corporations, with benefit options for everything from health, dental, vision, life, long-term, and short-term, and even pet insurance, prepaid legal, and discounts on various products.