Can Small Business Employees Benefit From Using A PEO? The Answer Is… Yes!

Can Small Business Employees Benefit From Using A PEO? The Answer Is… Yes!

As a small business owner, you’re likely an expert in your field and have a passion for what you do. However, you probably didn’t start your business to deal with the complexities of human resources. That’s where a Professional Employer Organization (PEO) comes in handy.

PEO services provide a wide range of HR support, including payroll processing, benefits administration, workers’ compensation management, and more. But how can small business employees benefit from using PEO services? Let’s dive into some of the key advantages.

Here are three ways that small business employees benefit from using a PEO:

1. Lower Employee Turnover / Improved Retention Efforts: Recruiting and retention is essential for any business. The PEO services can help you enhance your recruiting efforts, from job posting, screening candidates, interview scheduling, and background checks, to hiring.

people working

Moreover, with PEO back-end supports, you will get access to adequate resources that increase employee engagement while *reducing turnover.

* According to NAPEO.org, research shows that companies that use a PEO have an average employee turnover rate of 10 to 14% lower than the national average of 42% per year. This can lead to cost savings and improved stability for small businesses.

2. Start Saving Money: Using a PEO can help an employer save money over time by reducing their administrative costs, minimizing risk, improving compliance, and streamlining business processes. Since PEOs serve as employer-of-record, they handle the payroll, payroll taxes, and other employer-related taxes.

people working together

This means that small businesses can avoid mistakes and missed deadlines, eliminate audit risk, and save money in payroll management. Which, in turn, also benefits the employee.

3. Access to Expert HR Services: With PEO Services, HR professionals help you navigate your best strategies and practices that propel your interests, increase the quality of service or product, and overall profitability. A PEO also provides regular training and HR education opportunities, keeping you and your employees up-to-date on the latest workplace changes and regulations. Sometimes, small businesses often do not have the resources to employ a dedicated HR professional.

people strategizing

PEOs provide access to experienced human resource professionals as part of their services, helping small businesses comply with employment laws and assisting employees in understanding their rights and responsibilities. This can result in reduced risk and improved compliance for small businesses.

In summary, we want to help you make a positive impact towards your business efforts. When you are ready to move forward, or want to ask us any follow up questions, contact us today!

6
JUN
0

PEO

BIGGER ISN’T ALWAYS BETTER – At Simple Work Comp we’re not trying to be the biggest; we’re trying to provide the best services.

BIGGER ISN’T ALWAYS BETTER – At Simple Work Comp we’re not trying to be the biggest; we’re trying to provide the best services.

The popular ideologies “bigger is better” and “size matters” are how society measures  ‘popularity’ but not necessarily ‘quality,’ especially when it comes to hiring someone to run important departments within a business.

Two of the most recognized human resource management software and service companies are ADP or (Automatic Data Processing) and Paychex. ADP has been around for nearly 70 years while Paychex  has been operating for 46. Both serve and employ all over the globe.

Simple Work Comp offers the same kind of HR-related, payroll and workers compensation services as their competitors (and much more). Which is the reason why most companies who learn about Simple Work Comp choose Simple Work Comp. They’re personable, competitively priced and without any hidden fees.  

Simple Work Comp CEO, Frank VanDeBoe, says when it comes to this specialized industry, size should be the last priority businesses should look for. More moving parts can cause risk for errors and sub-par quality care.

“After 20 years in this industry and starting from scratch, I’ve learned our customers want the personal attention without gimmicks or greed,” VanDeBoe says.

Simple Work Comp is headquartered in Tampa and provides opportunity to all types of businesses to fulfill their payroll, workers compensation, commercial and business insurance, employee benefits, employee leasing and more for an affordable cost.

Vandeboe says a majority of their clientele chose Simple Work Comp’s over the competitors because they weren’t affordable or provided the transparency they thought they deserved.

Vandeboe says he’s used ADP for personal business as a comparison to Simple Work Comp’s menu of services. It’s how he realized that some companies are spending $60-$70 a month per employee just to run their payroll and file taxes. Simple Work Comp provides significant savings. While a high amount of ADP’s clientele are composed of white and grey collar businesses, Simple Work Comp provides service to small-companies and to those with 500+ employees.

“Equal opportunity is out there for anyone and Simple Work Comp has allowed me to not break the bank with only twelve men working for my company,” said Mike Van Eyk.

Van Eyk said he’s been utilizing Simple Work Comp for 18 years when he first opened for business. Van Eyk says what he loves most about SWC over any other of it’s competitors is the personal relationships and level of trust.

“Just knowing I’m not calling a phone bank where I feel like a number is a huge reason I stay. If I have a question I can always call Frankie’s folks without hesitation,” said Van Eyk.

A rather large multi location restaurant chain recently transferred from ADP to Simple Work Comp because they said they were tired of the hidden fees, having trouble calculating their true cost and paying for W-2’s at the end of the year. After realizing the thousands of dollars being saved from filing taxes alone with Simple Work Comp, it was an easy decision to leave ADP.  

A secret to SWC’s success pays tribute to the fraction of overhead they provide for.

Vandeboe says it’s not fair to charge services that he thinks should be included in the final price tag.

“It takes some approvals in as little as 24 hours and some quick quotes in as little as 15 minutes. We serve businesses of any size and provide potential to save thousands thanks to our  trustworthy representatives – who provide access to their direct contact information (day or night). We have successfully served approximately 3000 companies in all four corners of the continent not because we aim for a higher quantity of employees but value the quality of service to our customers,” said Vandeboe.

13
DEC
0

Accident Insurance, Company News, Payroll, Payroll Services, PEO

Florida Workers Compensation Agents

Workers Compensation Agents in Florida

employee leasing guru, floridaFlorida Workers Compensation Agents will soon face many challenges in the wake of the recent Florida Supreme Court ruling. Industry leaders and workers compensation underwriters have newly raised concerns as to whether or not other large market states will use this ruling as a precedent. Meanwhile, Comp Brokers and Agencies are looking for alternative workers compensation solutions for their clients.

Writing new business and client retention have both been difficult in recent years. Now, with a significant increase in comp rates here in Florida, many agencies are exploring other avenues such as employee leasing and bundling products to protect and retain their comp clients, while others believe their business will not be very affected since the increase in statewide which in turn should keep the competitive playing field level.

Unlike other Workers Comp based businesses, Simple Work Comp expect their market share to grow substantially through its PEO and Employee Leasing programs. As Florida business owners begin to feel the financial squeeze of increased rates, they will be more accepting and open to unconventional ways in obtaining affordable workers compensation.

All Workers Compensation Agents should take the time to learn about employee leasing and how it benefits them and their clients more so than a straight-up comp policy. In the long run both Agents and their clients save a great deal of time using employee leasing. Neither have to deal with claims, compliance or other painstaking non-rewarding comp related issues.

Every Workers Compensation Agency can gain from exploring their options. Agents can learn more by clicking on the link below.

Comp Agents & Employee Leasing

For more information on how your Agency can benefit from working with us, please contact me directly at 813-684-5684, or ask to speak with one of our senior consultants.

Frankie VanDeboe
Founder & CEO
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21
JUL
0

Company News, Employee Leasing, PEO

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What is a PEO Broker?

What is a PEO Broker, and how can they help my business?

What is a PEO Broker? A PEO allows you to eliminate labor and non-profitable administrative costs and task, and reduce the amount of paperwork and time dedicated to managing the administrative side of your business. There are a little more than 700 PEO service providers in the US.

Who is a PEO Broker?

The term PEO Broker is coined from other industries mostly because PEOs have not initially been brokered.

As the PEO’s desire to expand their client base across more industries and States within the US grew, many PEOs found most advantageous to team up with a sales force outside their organization.

PEOs decided they would pay a percentage of revenue to an outside salesforce rather than pay more salaries internally.  Another words, they are smartly exchanging a fixed cost for a variable cost and this cost is only realized once a client is on their books.

Not all PEOs allow brokers to offer their services.

There are some national PEOs such as ADP, Paychex or Insperity who only use their internal sales force.  They have spent tremendous advertisement dollars to make their name known.

These PEOs see less value in paying outside sales professionals a client acquisition fee.

A few other regional PEOs who do not partner with outside sales maintain their solution is so superior and specialized that they do not place high value in anyone other than their internally trained sales force.

This landscape is changing especially now when there is much consolidation and acquisitions among PEOs.

A PEO Broker or someone who can connect a client with a suitable PEO is a category of professional who performs this service in different capacities.

There are three essential types of professionals who can help you to connect with a PEO provider:

PEO BROKERS

These are firms who have made it their business to understand the wide differences among the many types of PEOs as well as the specific needs of the client.

Business Analysis

Small and medium size businesses have general common needs and also very company specific drivers.  PEO broker companies drill in to figure out what these company specific needs are to best pair the client with the proper PEO solution.

Broader Relationships

PEO broker companies have established relationships with all three types of PEOs (National, Regional and Niche).  The reason for this is the desire to be in a position to have at least one option for every client who is a fit for the PEO partnership.

PEO broker companies have more relationships in place than the other two types of PEO connectors most often finding themselves in a position to interact with the PEOs upper management and owners of the company.

PEO broker companies have most often over a dozen different PEO relationships.

One Set of Forms

Some PEO Broker companies have standardized the process for the benefit of the client offering a consolidated RFP questionnaire applicable to all PEOs which maintain the relationship.

Clients fill out only one set of forms and the PEO broker company alongside the PEOs do the rest.

Better Rates

Additional benefits from PEO broker companies include the ability to negotiate on the clients’ behalf.

Due to the larger volume of business the PEOs receive from PEO Broker companies and the favorable professional business relationship, the client is often in a position to get the most competitive rates.  This is further cemented by the knowledge the PEOs have that they are competing with other PEOs for the clients’ business.

For more information on how you can benefit from a PEO broker relationship call us at 1-866-684-5684.

17
NOV
0

Employee Leasing, PEO, Workers Compensation

Business Owners – Save Using PEO

Why use a PEO?

peo services, employee leasing, workers compensation insurance agents, brokersA PEO is an “All-In-One” service that provides workers’ comp insurance, payroll, benefits and numerous HR services to its clients. Usually, working with a PEO will not cost a business owner.  In fact, using a PEO helps business owners save time, stay organized, stay compliant and up-to-date on all employee related matters.

Business owners, especially in Florida have embraced the services of PEOs (Professional Employer Organization or Employee Leasing) for the past 15 years.  As a business owner, it behooves you to become familiar with the advantages of utilizing a PEO, and leveraging a PEO Broker’s resources.

All-In-One Services Saves Time & Money

A PEO facilitates all employee related administrative tasks; tasks that most business owners simply do not have time for such as:
  1. Employee On-boarding/Screening Process
  2. Complete Payroll Services & All W2s, 940s, and 941 Forms
  3. Facilitating Unemployment Claims
  4. Employee Benefits
  5. Business Owners Risk Management/Loss

If you own your own business, you owe to yourself to learn more about our services and how PEOs and Employee Leasing work.  For more information, give us a call at 1-866-684-5684.  Or, click here to send us an email.

22
JUL
0

Employee Leasing, Payroll Services, PEO, Workers Compensation