Did you know that PEOs provide quality administrative services to 173,000 businesses in the U.S. alone? And that’s just one of the industry statistics that show how popular and effective PEOs are. If your small business is struggling to compete with larger corporations, or if you want to free up resources to put towards growth and expansion, a PEO might be right for you.
A PEO allows companies to outsource departments like HR and payroll, and smaller tasks like government compliance and employee benefits. At NetPEO, our Nashville PEO brokers will do everything they can to find a provider that meets the unique needs of your business.
Services Your Nashville Business Can Outsource to a PEO
A broker in Nashville can find you a PEO that will be able to take on a wide array of tasks. When you outsource to a provider, you get quality services for less than the price of hiring in-house. Here are some of the departments and functions your new PEO will be able to take care of:
- Human resources. If your company’s human resources department is inefficient and prone to making expensive mistakes, a provider can help. The right PEO can assist you with everything from hiring, training, and onboarding to performance reviews and terminations.
- Payroll. Payroll mistakes can irritate your workers and even get you in trouble with the IRS. A broker can match you with a PEO that can make sure your employees receive their direct deposits and W-2s on time. They’ll also help with unemployment claims, workers’ comp deductions, and business taxes.
- Employee benefits. When you partner with a PEO, you’ll finally be able to offer your workers the healthcare and retirement benefits they deserve. They’ll have access to medical, dental, and vision benefits as well as 410k and IRA retirement plans. When your employees hear about their new perks they’ll be thrilled, and much less likely to leave you for a company with better benefits.
- Government compliance. Keeping up with federal and state business regulations can be confusing. If done incorrectly, you could face a serious fine. Luckily, PEOs have compliance specialists who are familiar with the nuances of business laws in the state of Tennessee. They’ll ensure your company is playing by the rules, so you don’t have to worry about paying exorbitant penalties.
A PEO Can Give Your Nashville Business Access to Helpful Technology
A PEO broker in Nashville can find you a provider that will give you and your employees access to technology that will allow you to compete in today’s increasingly tech-savvy world. You’ll be able to benefit from payroll software, data management technology, and training courses to help you workers learn how to use your new state-of-the-art tech.
If you’re interested in leveling up your company’s technology, ask your broker to find you a PEO that specializes in providing cutting-edge software and employee portals. You’ll be amazed at how efficient and connected your business is once it receives its new tech.
Your Nashville Company Won’t Have to Worry About Fraudulent PEO Practices
A common practice among untrustworthy PEOs known as “scooping” has hurt a significant number of small businesses. Scooping is when a PEO pockets the difference from tax-deductible employee insurance contributions. It’s an unethical tactic that the brokers of NetPEO have no tolerance for.
You can rest assured that none of our PEOs engage in scooping or any other fraudulent practice. Your Nashville broker will only recommend the most honest and reliable providers, so you don’t have to worry about your PEO taking advantage of you.
What a PEO Broker in Nashville Can Do for You
It’s your Nashville PEO broker’s job to find you a provider that will be able to take on all the services you need assistance with. When you reach out to a broker, they’ll begin the process by performing a detailed review of your business. They’ll ask questions about your company’s weaknesses and what kind of help you’d benefit the most from.
Once they know more about your organization, they’ll provide you with a list of PEOs that specialize in the fields you’re struggling witn. The list will also include the prices for each provider. Once you officially partner with a PEO, your broker will stay in touch with you.
Communicating any issues you have with your new provider is the best way to address them. Talking to your PEO and your broker will help you address problems faster so that you can reap as many benefits as possible. If you’re having significant issues with your provider, your broker will be able to match you with a new one that better suits your company.
Paying your PEO
PEOs are a great business solution for small businesses, because they’re remarkably easy to afford. There are two ways you can pay your PEO. The first way is to pay them per employee per year. If you choose this option, you can expect to spend between $900 and $1,500 per worker.
The second option is to pay a percentage of your overall payroll for each pay period. With this payment method you can expect to pay between 3% and 10% of your overall payroll. Remember, paying for a PEO is far less expensive than hiring employees in-house, so it’s always worth it to outsource to a qualified provider.
Schedule a Free Consultation and Receive a Free Quote Today!
At NetPEO, our main goal is to help small and mid-sized businesses succeed by connecting them with reliable and efficient PEOs. A PEO broker in Nashville can find you a provider that will improve your administrative services, give you access to new technologies, and allow your company the space it needs to focus on growth-oriented endeavours.
Call us or fill out a contact form online to schedule your free consultation. You’ll be amazed at how effective and smooth your company’s workflow is once you’ve been partnered with a qualified provider.