What should I look for in a PEO?
Deciding to take on a PEO to handle all your employee and Human Resources services means that you’ll have more time to run your business and focus on its development. It’s the dedicated team of experts who can handle all your management requirements including payroll, workers compensation, retirement plans, benefits and so on.
You get support, plenty of protection and compliance as well as fewer time-consuming admin tasks. It simply makes sense to look at hiring a PEO to help streamline your business model and still have access to the very best in employment talent.
So, this begs the question. What should I look for in a PEO? Read on to find out how to choose the very best PEO for your business.
They’re fully accredited
As a PEO is expected to handle sensitive responsibilities such as payroll, insurance, workers compensation and employee benefits to name but a few, your chosen PEO must be fully accredited and registered. Not only does this mean that everything is done correctly and legally, but it also gives you peace of mind that all administrative tasks relating to your employees are done so with financial stability and reassurance in mind. So, ensure your chosen PEO is IRS certified and accredited with the ESAC.
They can grow with you
As a business owner, you’ll have success and expansion of your business in mind. Of course, it may be a few years down the line however your chosen PEO company must have the capacity to grow with you. Whether it’s taking on more employees, handling higher volumes of payroll and benefits handling, even dealing with worker’s compensation claims. Before you take on a PEO company, find out what other services you can bolt on to your package as your company expands.
Payment arrangements
You need to know how your chosen PEO company charges and obtains their payment and if this works with your business. For example, do they take a percentage from payroll or do they charge on a per-employee basis?
They have good customer service
If there’s an issue with payroll, or you’re having tech issues with their online services, you need to be able to get in touch with them and have your issues resolved promptly. Find out what kind of customer services they provide and if they’re available out of office hours. Is there a direct line for you? A chat service for employees? Email support? Find out what kind of support would suit your business best and look for it in a PEO.
And finally…positive reviews
Does their reputation proceed them? If you’re going to hand over the responsibility of your employees and HR obligations to a third party, then they need to have a reputation for excellence. Check out all online reviews on google and social media.
