Small business owners are often excited about their business but frustrated by the essential and often burdensome “behind-the-scenes” responsibilities they must fulfill to keep the operation running smoothly and in compliance with Utah’s small business laws. For example, employers must purchase workers’ compensation insurance to cover employees who are hurt at work and be certain to report injuries and manage the workers’ compensation claim.
Navigating workers’ compensation and many other administrative duties is a challenge for anyone, but also comes with high risk to small business owners who can face penalties for mishandling these issues, even by accident.
If you are a small business owner in Salt Lake City, NetPEO is here to help. A PEO broker in Utah will connect you with a Salt Lake City PEO workers’ compensation services provider who can help you avoid penalties and stop spending time on complicated and time-consuming administrative duties.
What It Means to Partner with a PEO
When you partner with a PEO, you gain a co-employer for your business. This does not mean you relinquish authority or have to allow the PEO to make business decisions for you. You maintain CEO status with your company.
What having a co-employer means is you can delegate administrative and human resources-related tasks to your co-employer. With co-employer status, the PEO can legally handle sensitive information regarding your shared employees.
Delegating time-consuming administrative tasks, which are typically duties business owners enjoy least, frees you up to put your time and energy into innovating, strengthening, and expanding your business.
How a Salt Lake City PEO Workers’ Compensation Services Provider Can Help You
Along with other responsibilities, you can have your PEO co-employer take care of all workers’ compensation issues. Employers in Utah, with very few exceptions, must purchase workers’ compensation insurance to cover workers who are injured or become ill on the job or because of their work environment. A PEO can find a policy that best fits your business needs while still adhering to Utah’s workers’ compensation laws.
Employers must comply with all workers’ compensation requirements, such as how they inform employees of coverage and how and when they report injuries. Keeping track of those regulations and following through on claims can be serious challenges, especially for small business owners whose time and resources are already stretched.
Mishandling a claim, even accidentally, can lead to a host of penalties and legal problems. With a PEO handling all things workers’ compensation, you do not have to stress over inadvertent errors. And if a claim needs to be challenged, your PEO can handle that process too.
Finding the Right Salt Lake City PEO Workers’ Compensation Services Partner with NetPEO
While you might find the idea of a PEO partnership appealing, you might also be intimidated by the prospect of having to find the right co-employer. There are many PEOs in operation in Utah, and researching your options to find one that fits your budget and needs requires time and effort you cannot spare.
NetPEO is the solution. As a PEO brokerage firm, NetPEO has a vast network of PEOs, and NetPEO brokers have the time and skill to research that network to find the right partner for your business. When you contact us, we will set up a free consultation with a Salt Lake City NetPEO broker who will:
- Carry out a thorough assessment of your business goals and needs
- Research NetPEO’s extensive PEO network to find appropriate co-employer options
- Present you with a manageable list of possibilities so you can make the final decision
After you select your PEO partner, you can count on NetPEO for ongoing support.
NetPEO Gives Continued Support
Making your PEO selection is the first step in the co-employment process, and your broker will not leave you to figure out the next steps on your own. Rather, your broker will facilitate a co-employment agreement with your new partner and help you transition into this new business structure.
Most of the time, partnerships work out well. In fact, NetPEO has an impressive 95% retention rate, proving our clients’ satisfaction. However, there are times when the relationship does not gel as expected. In those cases, your broker will help you dissolve the partnership and use that experience to match you with a more suitable co-employer.
Additional Benefits Salt Lake City Businesses Get from a PEO Partnership
The U.S. Small Business Administration (SBA) reports a growing number of small businesses in Utah. Their most recent yearly report shows Utah:
- Has 324,821 small businesses
- Employs 625,572 small business employees
- Saw a net gain of 6,003 small businesses
- Saw a net gain of 29,432 small business jobs
The businesses represented 19 classified industries, with the five largest including:
- Professional, scientific, and technical services
- Real estate and rentals and leasing
- Administration support and waste management
Other business areas range from education to the arts to mining to healthcare to finance. Utah’s small businesses have a presence in almost all industries. Whatever type of business you own, a beneficial partnership with a PEO is available to you, and not just for covering your workers’ compensation issues.
Other Jobs Your PEO Can Fulfill
As you draft your co-employment agreement, you can decide to delegate other responsibilities to your PEO, ultimately saving yourself long hours every week and protecting your brand and business from the consequences of administrative errors. Duties you can assign include:
- Payroll processing
- Insurance and benefits management
- New hire onboarding and training
- Employee terminations
- Maintaining compliance with small business regulations
- Other human resources or administrative matters
If you are concerned about PEO fees, it is typically far less expensive to delegate tasks to one PEO for one rate than to outsource the duties to different organizations or hire a team of employees. Your Salt Lake City NetPEO broker will be mindful of your financial situation when conducting a search for the right partner.
NetPEO Will Find the Right PEO Partner for You
There is no need for you to spend countless hours sorting out workers’ compensation issues or other arduous administrative jobs. As a small business owner, your time is better spent developing your business ideas, improving your product, service, or marketing methods, and helping your business grow. NetPEO can give you your time back by connecting you to a reliable, vetted PEO co-employer.
Reach out to us today to schedule a free consultation. We look forward to helping you make your business the best it can be.