Advantages of PEO Services

Advantages of PEO Services

See also:
How to Select a PEO
PEO Compared to Outsourcing Payroll
Professional Employer Organization FAQ’s
Step Method Allocation
Direct Method Allocation

Advantages of PEO Services

Some of the advantages of PEO Services include that the Business Owner will continue to face obstacles in Employee Benefits, Human Resources Management, Employment Practices, and Regulatory Compliance. In addition, a lack of expertise and training in these critical areas can make it difficult for consistent and timely regulatory compliance with Federal Laws, State Laws and Employment Law Court Rulings.

PEO Arrangement

The PEO arrangement is the opportunity for a Business Owner to consolidate vendors, to secure a one-stop source for payroll services, employee benefits and workers’ compensation insurance, to obtain a level of expertise often not found in-house, and to leverage the economy of scale purchasing inherent in the PEO business model.
Because a PEO does not normally require on-site workspace, while some work must take place on the company property; technological advances make communications easy and efficient which may decrease the Business Owner’s overhead expense.
Additionally, the PEO will maintain their own equipment and supplies, reducing the need for peripheral capital expenditures.
This is a time that employees are more benefit conscious. This is because Employee Benefit costs continue to rise. In addition, competitive benefit plans are becoming more difficult to find. The Business Owner and the “co-employees” will have the option to take advantage of a stable low-cost comprehensive Employee Health and Welfare Plans.
If you want to determine which candidates are the right fit for your company, then download and access your free white paper, 5 Guiding Principles For Recruiting a Star-Quality Team.
advantages of PEO services
[box]Strategic CFO Lab Member Extra
Access your Recruiting Manual Execution Plan in SCFO Lab. The step-by-step plan recruit the best talent as well as avoid hiring duds.

Click here to access your Execution Plan. Not a Lab Member?
Click here to learn more about SCFO Labs[/box]

advantages of PEO services
 

ARTICLES YOU MIGHT LIKE

The Struggles of Private Company Accounting

Hiring the right accountant  When I meet a business owner operating at a successful $10 million in revenue, they often mention, “My CPA”… I immediately know that CEO/Entrepreneur is referring to their Tax CPA.  That is because one thing that all Entrepreneurs have in common is that they must file a tax return.  So, from

Read More »

IN CRISIS? GET A STRATEGIC CFO! – CEO Blindspots Podcast

Friend of the firm, Birgit Kamps, recently had Strategic CFO President, Dan Corredor, as a guest on her podcast, CEO Blindspots. CEO BLINDSPOTS HOST: Birgit Kamps. She was speaking five languages by the age of 10, and lived in five countries with her Dutch parents prior to becoming an American citizen. Birgit’s professional experience includes starting

Read More »

SHRM calls ICHRA the 401K for Group Health Benefits

Fed-up with group health insurance? ICHRA is the new way to offer great health benefits and avoid ACA penalties, SHRM calls it the 401K for group health benefits.  In 2020 the Department of Labor, HHS and IRS changed the rules for employer health benefits. They changed the Affordable Care Act mandates and penalties for every

Read More »

JOIN OUR NEXT SERIES

Financial Leadership Workshop

MARCH 28TH-31ST 2022

SHARE THIS ARTICLE

JOIN THE NEXT STRATEGIC CFO™ SERIES

Strategic CFO™ Financial Leadership Workshop
The Art of the CFO®

Days
Hours
Min
Sec

September 12-15th 2022