The Main Benefits of a PEO
PEOs (Professional Employer Organization) offer a fantastic range of back office solutions that help businesses to run more efficiently. The most popular reason that businesses choose to work with a PEO is usually assistance with payroll services and to get better rates on workers comp and health insurance. However, good PEOs offer more than just payroll services and benefits.
Sure, partnering with a PEO will help your payroll processes become more accurate and effective, but what else will a PEO help with? The team at Benely have put together this short guide to let you know three other ways in which a PEO can benefit you.
1. They Can Help With Your Insurance
A PEO helps with your tax filings and offers insurance benefits to your employees. Usually the value add here is that you can get large group health insurance pricing even as a small employer under 100 employees. A great insurance offering can you hire top talent for your business and reduce employee turnover by giving your current employees more reasons to stick around.
One of the best reasons for working with a PEO is the help with health insurance procurement. Regardless of the kind of industry in which your business operates, you’ll benefit from a financial and functional perspective.
2. They Help Ensure Compliance
PEOs can help businesses from all industries to stay compliant. Retail stores, manufacturing plants, healthcare businesses, and more, partnering with a PEO can help ensure compliant and stay well within industry regulations. Companies usually with little HR assistance, partner with a PEO to get large scale HR consulting like bigger companies have.
A PEO can really help give business owners the peace of mind that comes from working with experts. Staying compliant is an important part of operations for any business and partnering with a PEO can make the whole process more simple.
3. They Can Prevent Lawsuits
A lawsuit can cripple a small business. By partnering a PEO, your business can keep an eye on employment-related claims and ensure your employees stay happy. With a dedicated HR team, this is essentially possible because it’s like getting a full HR department at your disposal.
How Benely Can Help
At Benely, we understand the importance of finding the right partner. As such, we work closely with your team to find out your exact requirements to ensure we provide you with exactly what you need.