One of the major struggles of growing small business owners is employee benefits. The benefits packages offered to small businesses are often too expensive or too weak to be attractive to talent. However, there is a way you can access better and less expensive benefits for you and your employees.
NetPEO can connect you with a PEO company in Tallahassee that provides employee benefits services. Co-employment with a PEO will grant you access to benefits similar to those given by large corporations at a price that’s much more affordable. Here’s how.
PEOs and Employee Benefits
How does a PEO help your company get better benefits? Let’s look at it from the perspective of the benefit providers. Insurance companies take in premiums to spread the costs of treatment around among many people. However, for benefits programs, they only look at the employees in a single business. Fewer people means fewer premiums and higher risk, so they charge more.
The benefit providers would prefer to see a big company with lots of people paying premiums. That lets them charge less and offer better coverage. A PEO can help you do that by working with you in a co-employment relationship.
In this arrangement, we can combine your employees with our nationwide network of companies. This creates a far larger premium pool and lets us negotiate far better rates and benefits for your company.
What Is Co-employment?
Co-employment is how businesses and PEOs work together. The PEO takes on certain employment responsibilities for your company, like HR and payroll-related tasks. You do not lose control of your business, and you gain the help of experts who can lower your costs and liabilities as an employer.
Co-employment lets you leverage a pool of experts to protect your company from HR hazards, improve your payroll system, keep your company compliant with regulations, and give you access and management to excellent employee benefits.
The Benefit of Good Employee Benefits
One of the first questions a prospective employee might ask you is what your benefits are. Most people get their health, dental, and vision coverage through an employer. If you cannot offer them good coverage, they’ll have to use individual ACA coverage or go without.
Strong benefits are one way to keep employees loyal to your company, but they also attract talent to your company. Quality employees know their worth and won’t work for a company that can’t offer insurance, retirement plans, and similar benefits.
It’s a terrible feeling to lose the perfect prospect for your Tallahassee business because you can’t afford employee benefits yet. Work with a PEO through us, and you’ll stop losing prospects and churning through employees because of poor or no benefits.
What Sorts of Employee Benefits Do You Offer?
We cover the full spectrum of employee benefits from health insurance to retirement, including:
- Employee health insurance (HMO, POS, PPO, HSA, and more)
- Full dental and vision coverage
- Individual retirement accounts
- 401K plans
- Section 529 education saving plans
- Cafeteria plans
- Voluntary benefits programs
- Credit union programs
- And more
NetPEO also administers these programs. We’ll answer employee questions about them, work with the providers with any issues, and much more. Our team will work with your staff to review your benefits programs to make sure you’re meeting your needs or help you get started with benefits from the very beginning.
What Else Does a PEO Offer My Company?
Working with a PEO brings more than just benefits. A PEO can help you with any payroll or HR task you have. Some of the most valuable benefits we can offer through our Tallahassee PEO employee benefits service partnerships include:
- Helping with hiring, onboarding, and training processes
- Benefits administration
- Choosing the right workers’ compensation plan and processing claims
- Handling disputes between employees or complaints about company culture
- Dealing with unemployment claims
- Delivering payroll to your employees on time, on budget, and with proper records
These are just a few of the services our PEOs can handle. Contact us for a quote and a consultation meeting, and we can put together a package to handle your needs, whether you just need an expert for one or two things or an entire team to manage all of it.
What about Mandatory Benefits Like Worker’s Compensation?
Any company in Tallahassee with four or more employees must carry workers’ compensation insurance. This is often the first major employee benefit a business owner must give their employees since it’s required by law, but sorting through which insurance carrier is best for you is challenging.
It’s not a task you can put off, either. Once you’re required to have it, your business is one injury away from getting massive fines. However, if you have a PEO on your side, they can help you get the right insurance, handle claims, and keep your business running like it should.
With our help, your employees can get access to the compensation they’re owed by law, along with any other benefits they need to return to work as soon as they’re healed. If you don’t have workers’ compensation coverage and you plan to grow your staff, speak with us immediately before you’re caught without coverage.
Create the Perfect Benefits Plan with Our Help
If you own a company and you’re struggling with creating an affordable and attractive benefits package for your employees, reach out to NetPEO. You’ll create a more productive work environment, reduce employee turnover, and raise morale.
Our Tallahassee PEO employee benefits services are the key you need to unlock these benefits. Explore your options by contacting us for a free consultation online to discuss your needs.