What is a PEO?
From securing Workers’ Compensation coverage to keeping track of payroll paperwork, you likely have a lot on your plate, especially if you’re in a complex industry like cannabis, armed security, or temporary staffing. If you find yourself in need of extra assistance around your business, a professional employer organization can help!
A professional employer organization, or PEO, is a company that provides HR support and other key services to other businesses. When your business works with a PEO, the PEO acts as a co-employer and assumes responsibility for many key aspects of your business. However, you still maintain complete control over your business and your employees.
How Can a PEO Help My Business?
PEOs can handle a vast array of tasks. Some of the most common include:
- Payroll processing
- Benefits administration
- Employee onboarding and offboarding
- Legal compliance
- Risk management
- Workers’ Compensation
When it comes to Workers’ Compensation coverage and employee benefits, a PEO can be particularly helpful. This is because PEOs have access to a wide network of carriers and other industry connections. They can leverage their experience and connections to find comprehensive, affordable solutions to your Workers’ Compensation and benefits challenges. This can be especially beneficial for businesses struggling to find coverage due to issues like high premiums or a history of audit issues or workplace accidents.
The Benefits of a PEO
Along with access to competitive benefits and coverage, partnering with a PEO also have many other benefits.
- Cost Savings: With a PEO, you can find affordable-yet-comprehensive solutions to your everyday challenges, including Workers’ Compensation and benefits
- More Flexibility: While your PEO handles your everyday responsibilities like payroll processing, you’ll have more time to focus on other important aspects on running, growing, and improving your business
- Improved Compliance: Your PEO will work with you to stay up-to-date on all federal, state, and industry regulations. This reduces your risk of costly and stressful issues like fines, penalties, and lapsed Workers’ Compensation coverage
- Reduced Risks: Since PEOs also offer assistance on tasks like safety training and risk management, working with a PEO greatly reduces the risk of workplace accidents, injuries, and illnesses.
Our PEO Products
At Work Comp Business Insurance Solutions, we help business owners find the best PEO solutions! We offer a full PEO product, which includes assistance on everything from Workers’ Compensation to everyday HR support. For business owners who aren’t quite ready to commit to a full PEO, we also offer Workers’ Compensation and payroll products that allow business owners to pick and choose the solutions that work best for the unique needs of their business and employees.
At Work Comp Business Insurance Solutions, we help business owners find the best Workers’ Compensation and payroll solutions.
