One of the biggest concerns of potential employees in today’s marketplace is insurance packages. Healthcare costs in the United States can be astronomical. Having a solid healthcare plan that protects employees with current healthcare needs or who want to make sure they have coverage for any potential need can help draw in top talent.
Many employees will even forego a higher salary from a competitor if the insurance benefits you provide are far greater. Unfortunately, many small businesses can’t compete with large corporations in the benefits they offer. However, this is where a PEO company can help. PEO stands for Professional Employer Organization.
When you partner with a PEO, your business will join its network. This partnership will help you qualify for discounts and special pricing packages for insurance that are typically preserved for larger companies. At NetPEO, we have over 30 years in the industry. Find out how we can help your business with a free quote today.
How Does a PEO Work?
A PEO company is a separate company that forms a close partnership with many other businesses. While other companies remain completely autonomous, by partnering with a PEO, they become part of a larger network. This partnership allows companies to qualify for discounts on insurance and other benefit packages that would otherwise be unobtainable.
In addition to providing you with access to these benefits packages, a PEO company can also serve as your human resources (HR) department. While you will retain all power regarding the hiring, firing, and management of your team, a PEO can take over the task of handling your day-to-day HR tasks.
How PEO Insurance Services Can Help Level the Playing Field
While there is often talk of supporting small businesses, the fact is that big businesses are the ones that get most of the breaks. Insurance providers tend to offer better deals for those choosing larger packages that cover more employees. This often makes the insurance benefits offered by large companies difficult to compete with.
However, by partnering with a PEO, you will qualify for the insurance offers typically reserved for these larger corporations. This partnership will allow you to offer much better benefits to your employees, helping to keep your workforce satisfied and enticing new talent to join your team.
How Co-Employment Works
The arrangement between a company and a PEO is known as co-employment. In this setup, there are clearly defined roles for both parties. With these set guidelines, you can easily work with a PEO without worrying about partnering with an entity with whom you do not have a past relationship.
After partnering with a PEO, your role within your company will not change. You will remain the executive of your business and the primary employer of your team. While the PEO will work closely with you and your team, they will follow your instruction when it comes to the operation of your business.
The Role of the PEO
In addition to granting you access to health insurance and other benefit package deals, a PEO can function as your HR services provider. In this role, they will manage all of your HR needs under your guidance. The services they offer can include:
- Handling payroll
- Dealing with tax withholding
- Administration of benefits
- Performance evaluations
- Handling disputes
- Dealing with unemployment claims
While all these services are available from a PEO company, you can also choose to keep any of these tasks in-house if you so choose. All company control remains with you, while the PEO simply works to provide you with support so that your business can operate at peak efficiency.
All of the Benefits of Working With a Georgia PEO Company
When you work with a PEO, they can handle a wide variety of tasks on your behalf. The benefits of this type of partnership are wide-ranging. While one of the primary perks of partnering with a Georgia PEO is access to insurance services discounts, this is just one of many perks. Other ways a PEO can help include:
- Improving your other benefits packages
- Ensuring compliance with the Affordable Care Act (ACA)
- Recruiting talent
- Taking over payroll
- Improving your performance review system
- Handling claims and disputes
Businesses That Commonly Partner With PEOs
The benefits of working with a PEO will differ slightly depending on the industry in which you work and the size of your company. However, this type of partnership can typically provide some level of assistance to nearly any company. Because of this, the companies that partner with PEOs are quite diverse and can include:
- Small companies with 10 employees or less
- Medium-sized companies with 11-100 employees
- Large companies
- Not-for-profit organizations
What Sets NetPEO Apart From Other Georgia PEO Companies
NetPEO was founded by a professional team with decades of experience working in both the PEO and Human Resources Outsourcing (HRO) industries. This experience has enabled us to identify the areas in which other companies within the industry fall short.
What we found was that while other PEO companies have the necessary technical expertise, they are often devoid of the customer service skills needed to ensure the happiness of their partner companies. Therefore, at NetPEO, we have worked to ensure that we use our knowledge along with a focus on our clients to provide the best service possible.
At NetPEO, it is our mission to ensure that we are helping to make your company stronger. We do so by listening to the needs of our partners and working to provide them with the services they need. Our PEO insurance services in Georgia can help your company keep in step with the big guys. Contact us today to learn more about how we can help and get a free quote.