Economies of scale can be achieved by pooling many services together. Professional Employer Organizations (PEOs) use all the benefits of HR management through an HRIS (Human Resource Information System) and combine these with many employee benefit products including health insurance. A large pool of employees gives them the purchasing power to provide highly competitive pricing.
Modern PEO’s provide employee payroll, benefits, taxes, claims, regulatory compliance, unemployment and recruiting while allowing companies to retain day-to-day control of its employees, including hiring and firing decisions. The result is a lower total labor cost, lower risk and a greater focus on growing and managing the core business.
The PEO Integrated Solution Includes:
- Payroll – A multitude of Payroll service including employee personal on line portal, direct deposit
- Workers Comp Plans – On a pay-as-you-go basis
- HR Service – Recruiting assistance, employee relations assistance, employee assistance program
- Regulatory Compliance – OSHA compliance and other compliance requirements in 401(k) and ACA
If you have the right fit, PEOs can provide considerable savings on the health insurance part of your HR budget. Contact us to find out if a PEO contract is right for you.