What is a PEO?
Hint: it stands for Professional Employer Organization
A PEO is a strategic partner to its clients for human resources, payroll, employee benefits, employment law compliance, and risk reduction and shields them from most employment related liability. Efficiency created through this relationship allows small businesses to keep down costs and regain their focus on core business functions.PEOs Save Money
Reducing Costs
What is a PEO doing to help its clients? Professional employer organizations streamline many non-revenue producing components of a company’s back-office administrative function. Furthermore, PEO clients leverage the group purchasing power made available to them to reduce costs in areas such as employee benefits and workers’ compensation insurance.
PEOs Save Time
Simplifying Business
Businesses today need help managing increasingly complex employee related matters such as health insurance, work-site safety, employment law compliance, and employee relations. Companies join a professional employer organization to outsource these responsibilities and receive expertise in human resources management. This allows the PEO client to concentrate on the operational and revenue-producing sides of its business.
PEO ADVANTAGES
The Co-Employment Model
The PEO offers its services through a co-employment model, thus becoming the administrative employer of record for tax and insurance purposes.
Advantages of Choosing a PEO
Professional employer organization clients realize the following advantages:- Compliance expertise keeps them current with frequent regulatory changes
- Efficiency through integration of all major HR management and employee benefits functions
- The PEO assumes administrative liability while direction and control of its employees remains with the client
- Access to best practices in HR, benefits, and compliance
Choosing the Right Professional Employer Organization
The Bottom Line
Lower Your PEO Fees by 25% or More
PEOs are prepared to negotiate, provide transparency, and lower your costs – you just need to know how to ask. That’s where Onward Advisors can help. We know the right questions to ask PEOs, so you can save money. Schedule a free consultation to see if you can lower your fees by 25% or more.
Onward Advisors combines unique perspectives and expert insights from decades of working at top PEOs. We do this through a unique, case-by-case approach, providing leading-edge analysis from our online platform to give clients unparalleled clarity and personalized analysis on which PEO solution is best for them.