Using PEO Select to find you a professional employer organization (PEO) will get you a better deal. PEO’s offer several benefits, including streamlined HR processes, access to better employee benefits and insurance rates, compliance assistance, risk management, and cost savings through economies of scale. Additionally, PEOs allow businesses to focus more on their core operations while outsourcing administrative tasks.
The amount a company can save by using a PEO varies depending on factors such as company size, industry, and specific services offered by the PEO. However, studies have shown potential savings ranging from 10% to 40% on HR-related costs, including payroll processing, employee benefits, and administrative expenses.
Healthcare
Access to Better Rates
PEOs often leverage their collective bargaining power to negotiate competitive rates on health insurance plans, providing cost savings for businesses.
Broader Selection of Plans
PEOs typically offer a range of health insurance options from multiple providers, allowing companies to choose plans that best fit their employees’ needs and budget.
Compliance Support
PEOs assist companies in navigating complex health insurance regulations and ensure compliance with state and federal laws, reducing the risk of penalties and legal issues.
Workers comp
Human Resources
Streamlined HR Processes
PEOs provide expertise and technology to streamline HR tasks such as payroll processing, benefits administration, and employee onboarding, saving time and reducing administrative burden for client companies.
Compliance Assistance
PEOs stay up-to-date with ever-changing employment laws and regulations, helping companies navigate complex HR compliance requirements and reducing the risk of legal issues or penalties.
Access to HR Expertise
PEOs offer access to HR professionals who can provide guidance on employee relations, performance management, training, and other HR-related matters, enhancing overall HR effectiveness within client companies.