Professional Employer Organization
SMALL BUSINESSES THAT USE PEO
How Professional Employer Organizations are Changing the Market
In a business environment that is relying more heavily on human resource management and compliance departments to avoid administrative red tape, small businesses often get left behind as they do not have the resources or finances to compete with large conglomerates.
These large companies are protected from liabilities and compliance issues by using these expensive departments and can thus focus on core economic growth. However, Professional Employer Organizations allow small businesses to offer Fortune 500 benefits and provide fully equipped Human Resources and Compliance departments not otherwise available to them.
These benefits are extremely attractive to top job talent allowing them to work for smaller niche companies in which they can thrive. Furthermore, The PEO will stay up to date on all legislation pertaining to your business to help avoid crippling fines from administrative changes that may otherwise be impossible to follow. The PEO assumes full liability for any fines incurred while under the plan.
Lastly, the PEO allows small businesses to qualify for up to 18 medical insurance plans with multiple companies and also provides supplemental plans not otherwise available to them including: Group Life, Dental, Vision, Long Term Disability, FSA’s, and 401k benefits. All of these culminate to help give small businesses the ability to compete with larger companies.
IMPROVE YOUR COMPANY'S PROFITABILITY
By taking on many of the distractions and challenges associated with the “business of employment”, PEOs enable their clients to focus their time and expertise solely on growing their business.
As companies become part of this larger pool, economies of scale allow them to lower employment costs, hiring overhead, and most importantly the monitoring of, and compliance with, employment laws. Failure to comply with these laws often entail heavy fines and are even used as a tactic to raise federal and state revenue.
Lastly, the PEO will handle redundant and routine tasks such as payroll, creating more time to grow the company’s bottom line and cutting out non-revenue generating functions.
HOW A PROFESSIONAL EMPLOYER ORGANIZATION WORKS
A PEO pools together small to medium sized companies to offer benefits and services of a Fortune 500 Company.
By using a PEO you are in a co-employment arrangement, in which the PEO provider takes on most of the liability for your company.
For example, the PEO is likely to pay out all workers compensation as well as assume responsibility for any compliance violations. Furthermore, your company will be provided with an HR representative and equipped with a fully-functional payroll system.
THE FOUR KEY ASPECTS OF A PEO
THE BENEFITS OF A PEO
- Insurance Plans
- Health Insurance
- Dental Insurance
- Vision Insurance
- Supplemental plans
- Voluntary Life
- Group Life Insurance
- Short-Term Disability (STD)
- Long-Term Disability (LTD)
- Colonial Life®
- Health Advocate™
- Financial Savings Plans
- Plan Audits and 5500 Tax Filings
- Health Savings Account (HSA)
- Flexible Spending Account (FSA)
- Parking and Transit Plan
- Employee Assistance Programs (EAP)
- Administration and support
Take time to focus on your core business as the supplied HR department takes care of:
- Reduce Administrative Hassle
- Employment Handbooks (Limits company liability)
- Employee Relations Programs
- Performance Management
- Compensation Planning
- Training Programs
- Job Descriptions
- Payroll Accrual & Tracking
- W-2 Administration
- Support in reporting wages to the Internal Revenue Service (IRS)
- Extensive Job-Costing
- Customized Deposit Options
- Additional Services
- Employment tax withholding, administration and filing
- Wage garnishments
- Cashpay Debit Card
- Shared responsibilities and liabilities with the PEO provider
- Risk and compliance experts track thousands of annual HR regulation changes, Health Care Reform, etc.
- I-9 Compliance Assistance
- Employment Practices Liability Insurance (EPLI)
- Legal Defense Benefits
- Resources for Federal & State Regulations
- Ongoing Regulatory Updates*
- Employment Forms & Posters
- New Hire Reporting
- Employment Verification & Records
- Social Security Number Verification Report
- Family Medical Leave Act (FMLA) Administration
A Comprehensive PEO Company New York
If you run a small business, and never made use of PEO then now’s the time to go all in. A PEO company in New York will provide your business with several benefits, that will save your company thousands on benefit costs while also improving your company’s productivity. For more information simply get in touch with our professional team and let us assist you.
What are the advantages of using the services a PEO company in New York for your small business?
For many small business corporations, thriving in a competitive market industry with larger enterprises can be very difficult.
When it comes to being secure against compliances and liabilities, large corporations can simply summon their finances and resources to cover them, but the same cannot be said for smaller or medium-sized businesses.
With the assistance of a PEO Company in New York, you’ll be able to enjoy the benefits as well as the services of a fortune 500 company. The agreement between your business and the PEO Company entails them taking liability and responsibility to pay out worker’s compensation and compliance violations.
- Reduce overall costs – due to the work being outsourced, it reduces the cost of having to pay and maintain in-house operational teams like human resources. Save on the cost of insurance and get more benefits at reduced negotiated prices.
- Cost effective payroll solutions – PEO companies in New York will take care of admin and payroll duties so that you don’t have to.
- Better technology – PEO companies afford the opportunities of large corporations by providing their clients with the latest technology and human resources information systems, such that cannot otherwise be afforded by many small to medium businesses.
- Secured with compliance – Hiring a PEO company means you’ll be up-to-date with the latest laws and compliances related to your business because these companies source all the information needed to keep their clients secured, avoiding fines for compliance violation.
- More time to improve business – PEO companies take care of all the fine detail and red tape so that business owners can utilize their staff to fully focus on growth strategies for their company.
Using our PEO Company in New York is the solution to grow your business
With A & C Management Group services finding you the right PEO Company in New York, you will be able to keep your company’s doors open and focus on more productive strategies for your business, ensuring faster growth. Our PEO solutions also decrease employee turnaround.
Pros summed up
- Fortune 500 benefits – health, dental, vision, supplemental, financial savings plans, Employee Assistance Programs (EAP), admin support.
- Human resources – performance management, employee relations programs, training, compensation planning, job descriptions.
- Payroll – W-2 administration, job costing, customized deposit options, additional services(employment tax withholding, admin, and filing, wage garnishments, cash pay debit card)
- Compliance and risk management – Co-employment, I-9 compliance assistance, Employment Practice Liability Insurance (EPLI), resources for federal and state regulations, new hire reporting, employment verification and records, social security number verification report, Family Medical Leave Act (FMLA) administration.
Find a reliable PEO company in New York to help you with your PEO service solutions and start seeing a positive change for your small business. Contact our skilled personnel at A & C Management Group.