Employers can select which services best suit their business and save money with competitive and cost-effective rates because a PEO consultant will pool these health benefits, and many companies buy into them.
Professional employer organizations are ideal because employees get access to a range of services like health services, the PEO handles all of the administration and consulting, and this frees up your time and energy to grow your business.
From Empower Consulting Partners, a Florida PEO Broker, “Empower Business Success by simplifying the PEO selection process and creating long lasting partnerships based on mutual respect, trust, and integrity.”
Also, your professional employer organization consultant will manage your human resources department so that you can avoid hiring the wrong candidate. Human resources related issues and risk management are handled through your professional employer organization. Your business gains all of the advantages of a more massive corporation by having these services.
PEO Benefits for Employees
There are many reasons a PEO broker can small businesses and its employees, including having access to human resource representatives for questions related to their employment and benefits.
HR representatives can also intervene in the event of more sensitive situations like with lawsuits, or to help with workers compensation when employees are hurt on the job. PEOs have access to legal and workers compensation professionals who can mitigate these potentially severe issues in the workplace.
Comprehensive benefits are essential to employees so that they can focus on doing their jobs and help to grow the business without having to worry about the essentials.
PEO’s offer payroll services like check processing and direct deposit, tax withholdings, and forms like W-2’s. They can manage wage garnishments and benefit costs as well. They even field employee payroll questions and handle customer service.
Health and Dental Benefits
PEO sponsored benefit plans offer comprehensive health plans that can include medical, dental, and vision coverage for employees. Some options have extras like flexible spending accounts and insurance benefits.
401K, Long Term Savings and Retirement Accounts
One benefit that employees appreciate most is a long-term savings account like a 401K or other retirement savings benefit. Having a plan where employees can take advantage of employer matching and other contributions can help your business retain your best employees.
Your PEO will take care of the administrative duties and handle all of the legal and compliance issues. They also provide educational experience, and employees get access to an online platform to keep track of how their investments are performing.
Educational Benefits of a PEO Broker
College can be expensive, and student loans can become burdensome. Some professional employer organizations offer employee assistance programs with educational benefits so that they can go back to school and save on tuition through a tuition reimbursement program.
When employees further their education and update their skills, it benefits the company as well through improved productivity. Businesses can also gain a tax deduction by participating in tuition reimbursement for their employees.
Adding the benefits of a professional employer organization to your business is a smart move. By offering your employees a comprehensive benefits package they will appreciate, your business gets rewarded with top talent, long-term employees, and heightened productivity.
Employees also enjoy having access to the human resources department for assistance with their benefits questions by phone and online.
Also, your business will benefit from having one point of contact through the human resources team. They will manage every aspect of the employee benefit and compensation plan so that you can focus on the dynamics of your business.
Professional Employer Organizations are popular throughout the state of Florida, and a broker can help answer any questions you might have about services. If you have a business in Florida, feel free to contact your broker today.
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