Is your small or mid-sized business struggling to stay afloat in today’s increasingly competitive business world? If so, there’s a solution that can make your company more efficient, profitable, and resilient: a Professional Employer Organization, or PEO. And the Frankfort PEO brokers at NetPEO can help.
A PEO is a company that you can hire to outsource departments like HR and payroll. PEOs are a great business strategy for small businesses because they rarely make mistakes, and outsourcing to them costs less than hiring in-house employees. With all that extra time and money on your hands, you’ll be able to pursue projects that move your company forward.
Tasks Your Frankfort Business Can Outsource to a PEO
There are a number of departments and tasks you can outsource to a PEO. When you partner with a provider you’ll be able to choose exactly which services you want them to provide. Be sure to tell your Frankfort PEO broker what your company is struggling with, and they’ll be able to find you a PEO that specializes in all the fields you need help with, including:
A well-oiled human resources department is the backbone of any successful business. If your company’s HR department has a track record of making costly mistakes, it might be time to outsource. A PEO can handle all the duties your old HR department managed without error.
Here are some of the tasks they can take on:
- Creating employee handbooks
- Performance reviews
- Organizational development
Payroll errors are time-consuming and can make for disgruntled workers. When employees don’t receive their direct deposit or tax information on time they don’t forget it. And when mistakes like those build up overtime, people start to look for jobs with higher quality administrative services.
Luckily, a Frankfort PEO can provide the following payroll services:
- Timely direct deposits
- Distribution of W-2s
- Instant payroll reporting
- Access to payroll software
When you partner with a provider, your employees become part of a larger workforce. That’s how a PEO is able to administer high-quality benefits to all your workers. When your employees see their new healthcare and 401(k) plans, they’ll be overjoyed, and much less likely to look for another job.
Here are some of the benefits they’ll have access to with a PEO:
- Tuition reimbursement
- 401(k) and IRA plans
Adhering to government regulations can be complex and time consuming, but all businesses have to do it. Unfortunately, when errors are made, the government isn’t very forgiving. That’s why PEOs are able to ensure your company is compliant with business regulations. A broker can help you find a PEO that could potentially save you a fortune in penalties.
Protecting your workers from unwanted sexual advances and assault is crucial to fostering a safe and productive work environment. Preventing such harassment can also help reduce turnover rate. If your company’s sexual harrasment prevention is insufficient, we can help.
We work with a number of PEOs that specialize in creating sexual harrasment seminars and policies. A PEO broker in Frankfort can connect you with a provider that will include rules related to harassment in new-hire onboarding, and instruct existing employees on how they are required to behave at work.
A PEO Can Help Your Frankfort Business Persevere Through Hard Times
Partnering with a PEO can make your business more resilient and protected from factors that you can’t control.
With numbers like that, it’s hard not to see the value of partnering with a provider. If your company is having a difficult time growing or even staying open in today’s economy, a PEO broker in Frankfort can find you a provider that will help your business thrive in the face of uncertainty.
How a PEO Broker in Frankfort Can Help You
Your Frankfort PEO broker’s main goal is to find the provider that best suits the needs and weaknesses of your company. They’ll begin this process by conducting a thorough assessment of your organization. Once they know more about your business, they’ll be able to find a PEO that specializes in exactly what you need help with.
Next, your broker will provide you with a carefully curated selection of PEOs that your organization could benefit from, along with the prices for each one. Once you’ve officially entered your partnership, your broker will check in with you periodically to see how things are going.
If you experience any problems with your provider, or if your needs change, your broker can address your concerns and reevaluate your partnership. If necessary, they can help you find a new PEO that better suits your business. Either way, clear communication with your broker and PEO is crucial to the success of your new partnership.
Paying Your Frankfort PEO
PEOs are famously easy to afford, even for small businesses in Frankfort. When you partner with a provider, you’ll be able to pay them in one of two ways. You can decide whether you want them to charge you per employee per year, or a percentage of your payroll.
If you choose to pay per employee, you can expect to spend between $900 and $1,500 per worker. This option is popular among small businesses because it’s very predictable. If you opt to pay a percentage of payroll, you’ll likely be charged between 3% and 10% of the overall payroll for each pay period.
Call Our PEO Brokers in Frankfort Today!
Our PEO brokers in Frankfort are committed to finding you a PEO that helps your business grow regardless of the economic climate. We work with a vast network of providers, so you can be sure that we’ll find one that works for your company
Call us or fill out a contact form on our website to schedule a free consultation and receive a quote for your new provider. You’ll be amazed at what the right PEO can do for your organization.