As a small business, you put your time, energy, money, and heart into your business. There is so much riding on your business’s success, and to achieve that success, you need a team of skilled workers. Unfortunately, it can be hard for small businesses to attract and keep high-quality workers.
They face competition from larger companies that have the means to offer more comprehensive insurance and benefits packages. Partnership with a Buffalo PEO broker services provider is a way for you to meet that competition and offer workers stronger benefits. NetPEO can help you connect with the professional employer organization (PEO) in Buffalo that is the right fit for you and your business.
Buffalo PEO Insurance Services Helps You Attract and Retain Employees
Employees rank health insurance offerings as a key focus of their job search. If you cannot offer strong coverage, you may not attract potential workers, and if you do, they are likely to leave when they gain experience and can move to other companies providing more benefits.
A PEO is able to offer stronger benefits than you can afford on your own. Because the workers of any company that partners with your PEO are also the PEO’s employee, the PEO has more bargaining power to negotiate benefits packages with insurance companies. They can also offer these packages at a lower per-employee cost.
As a result, you will probably see a larger pool of qualified workers and hold on to these satisfied employees even after they gain experience. And, you do not have to use your time to research potential insurance plans or get new employees onboarded to their policies. Your PEO will handle those responsibilities.
The Ripple Effect
When you can compete with the “big guys” and hire the right workers and keep them on your team, there is a ripple effect of positive consequences.
- Save time: You will spend less time interviewing, onboarding, and training new employees
- Save money: Time is money, so spending less time on finding and developing new workers saves you money
- See more productivity: When you start with high-quality workers and then keep them, those workers gain experience and expertise that benefit your business. Additionally, employees who are more satisfied with their compensation are motivated to put their best efforts into their work and to remain loyal to you and your business
- See a stronger bottom line: The result of having more time to put into your business, saving money, and greater productivity is a better bottom line overall
Other Ways a PEO Partnership Helps Your Business
When you partner with a Buffalo PEO insurance services provider, you enter a co-employment relationship. Under this structure, both you and the PEO are legal employers to your workers. This status gives the PEO access to employees’ sensitive information and allows them to carry out insurance services.
However, managing insurance and benefits packages is not the only service a Buffalo PEO provides. You can delegate any or all of your administrative and human resources-related responsibilities to the PEO as you see fit.
Just about every New York employer is required to purchase workers’ compensation insurance to cover employees who are injured at work or develop a work-related illness. Should employees file a claim, business owners are responsible for carrying out the proper follow-through. Violations can lead to a variety of consequences easily avoided when a PEO handles your workers’ compensation issues.
Paying employees on time and ensuring the proper withholdings are part of payroll processing. A PEO can manage these details, set up direct deposit, provide electronic pay stubs and W-2 forms, and streamline your process overall. Should any disputes arise with payroll or workers’ compensation claims, the PEO will help resolve those conflicts.
Risk and Compliance Management
Business owners in Buffalo must remain in compliance with New York’s many small business regulations and keep up with changes as they occur. Maintaining compliance is a complicated job in itself, taking your attention off growing your business. It is also easy to overlook or misunderstand specific rules or laws, which puts you at risk for penalties.
Employee Hiring and Termination
Though you can retain control over hiring choices, a PEO can help with the hiring process by conducting background checks and initial interviews. The PEO can also take on onboarding and training duties and manage employee performance reviews. If you need to part ways with an employee, the PEO will ensure proper termination protocols are followed.
Why Working with NetPEO Is Your Best Option
Researching long lists of PEOs to find the one that is right for you would take hours, days, weeks, and months you very likely do not have to spare. But when you connect with NetPEO, the only time commitment you make is the time it takes to meet a NetPEO broker for a free consultation.
NetPEO is a PEO brokerage firm. This means that once your broker assesses your business needs and goals, they take care of researching NetPEO’s network of PEOs to find a manageable selection of potential matches.
NetPEO brokers have over 200 years of combined industry experience, and the company has a 95% retention rate, the highest in the PEO industry. We do not take that record, or your trust, for granted, which is why we keep the lines of communication open even after you have entered a PEO partnership. We will work with you as you transition into your new business structure to ensure your complete satisfaction.
Contact NetPEO to Strengthen Your Business
A Buffalo PEO broker from our team is ready to meet with you and get you started on a time and money-saving co-employment relationship with a Buffalo PEO insurance services partner. Call or leave an electronic message, and we will get in touch to arrange a consultation as soon as possible.
A partnership will make for happier, more loyal, and more productive employees and restore you with the time and energy you need to optimize your business.