PEO Quick Reference Guide
What is a PEO?
A professional employer organization (PEO) is a firm that provides a way for companies to outsource employee management tasks such as employee benefits, payroll responsibilities, workers’ compensation, recruiting, risk management and training, and development to small businesses to provide greater benefits packages to employees, minimize HR related roles, and keep the focus on what matters most – their business.
Why PF-Compass to help You Find a PEO?
With more than 700 PEOs on the market today, it is important to understand that not all PEOs are created equal. At PF-Compass, we conduct extensive research to ensure we are partnering with industry leading PEOs. We are acutely aware of each PEO’s strengths and capabilities and use our expertise to help guide you to the PEO that best fits your needs. The volume of PEO business our partners submit to each of our PEOs make us a formidable ally to negotiate and secure the best plans, rates and fees for your business. In the end, you will be presented the most comprehensive PEO solution.
Misconceptions of a PEO
You may be hesitant to explore a PEO based on the “co-employment” concept and may assume that the PEO will take control over the business. This is completely false! PEOs want to provide support and guidance whenever and wherever needed. You are free to hire/fire and operate their business as they deem appropriate and necessary. By partnering with a PEO, you will have an expert organization that can provide valuable resources and advice, allowing you to focus on your business, not your Human Resources headaches.
Top 5 reasons YOU should consider a PEO
1) Avoid lawsuits
PEOs limit your vulnerability to a lawsuit by implementing safety protocols and procedures.
2) ACA compliance
PEOs assume the burden of government mandated reporting requirements.
3) Top talent
Recruit and retain top talent by offering a PEOs Fortune 500 benefits.
4) Reduce expenses
Bundle the cost of payroll, benefits and workers comp to reduce overhead business costs.
5) Concentrate on your business
Partner with a PEO and focus on your business, not the HR headaches.
Ideal Industries for a PEO
- Technology Firms
- Financial Services
- Health Care
- Private Charter Schools
- Professional and Business Services
- Media and Publishing
- Marketing and Advertising
- Start Ups