Saturday, May 12, 2007

What are PEOs and how you can benefit from them

What is PEO?
PEO stands for Professional Employer Organization. It is also known by it's other name: Employee Leasing Companies. They are in the business of helping other businesses with payroll processing to staffing. PEOs are full pledge HR department.

A general overview of what PEOs offer businesses:
  • Payroll outsourcing and processing
  • Workers compensation
  • Governmental compliance outsourcing
  • Employee benefits and savings
  • Financial savings plans, 401K plans...
  • Small business group health insurance plans
  • HR outsourcing and human resource assistance
Why do businesses need PEOs?
PEOs get the job done fast, efficient and economical. PEOs handle the issues with employees leaving businesses to concentrate on running the revenue generation part of the business. No more worrying about workers compensation, for instance. But how does it work? Here's a good outline of how workers compensation is handled by PEOs from Get PEO Quotes website:

  • Improves Cash Flow: Most PEO's require no down payment or upfront cost to cover workers compensation premiums. This also eliminates the year end audit since you are on a pay-as-you go plan. No Surprises at years end!
  • Sharing the risks: By pooling your employees with thousands of other employees your company is able to share in the economies of scale. Imagine the buying power of a 25,000 employee company to yours.
  • Loss Prevention: Employee leasing companies have a vested interest in keeping your employees safe. They are very proactive in helping your company run a safer workplace to help reduce claims therefore, costs as well. Most PEO's have in-house safety engineers to assist you in making yours a safe workplace.
  • Certificates of insurance: In the event that your company needs a workers compensation certificate of insurance, they're just a call away. Most employee leasing companies have the ability to turn those valuable workers compensation certificates around quickly.
  • Extended Limits: Higher numbers of employees means higher limits of workers compensation coverage, adding another measure of security for your company.
  • Claims Administration: In the event of an "on the job" accident, simply call the number provided by the PEO and they take it from there. The PEO will make sure your employee gets the rapid quality care they need with helping them get back to work quickly.

8 comments:

Teeth Whitening said...

Your blog is very nice. I m really impressed .I m waiting for your next post. Hopefully I will get it soon.Acai Berry
Acai Berry
Teeth Whitening

aniesmth1 said...

Your blog is very nice and informative.You are doing a great job.keep it up..
payday loans
Colon Cleanse

ashily.24pit@gmail.com said...

Thanks for sharing interesting things with all of us. I like way of your thought process.
Netflix
Extenze
Colon Cleanse
Teeth Whitening
Super Colon Cleanse

AMBER said...

Thanks for sharing interesting things with all of us. I like way of your thought process.
Reverse Phone Lookup
Acai Berry
Watch Twilight the Free

Anonymous said...

Imperssive.

Amazing

blog!

payrolling services said...

I am looking best payrolling services for my small business because outsource payrolling services has high rate of reliability since the individual who is managing your payroll can concentrate more when he/she will work at home.

Anonymous said...

This blog was... how do you say it? Relevant!! Finally I have found something that helped me.
Kudos!

Feel free to surf to my blog post :: video watching

Anonymous said...

I have read so many articles regarding the
blogger lovers but this article is genuinely a pleasant paragraph, keep it up.


Also visit my webpage - northfacejacketsoutlet.info