The Cost of Paperwork: Is a PEO Worth It?
Who in your office is spending his time on HR? Is it you or maybe one of your most valued and trusted employees? Wouldn't you be more productive with the paperwork off your desk? How do you maximize resources, save time and money, and still get the job done?
The answer: PEOs (Professional Employment Organizations)! We can do all of that for you by taking care of the HR paperwork.
There are a ton of reasons (literally) why you don't want to deal with the day to day business of employment paperwork. Think about it – gathering employee information and documents, benefits and 401(k) administration, worker's compensation and tax filings not to mention payroll processing – all take away from time better spent on growing your business and focusing on your strategic initiatives.
According to a study performed by the NFIB Research Foundation, small business owners stated that the most expensive help they receive is for tax paperwork and records, averaging at $83.69 per hour. This cost can rise to $100 per hour for companies with 10 or more employees!
PEOs are a cost effective and efficient way to keep costs down and maximize productivity. We act as the silent partner you can trust for compliance issues and HR Management.
Did you know?
- Between 1980 and 2000, the number of labor laws and regulations grew by almost two-thirds; this translates to owners of small- and mid-sized businesses spending up to a quarter of their time on employment and HR paperwork (Small Business Administration)
- The cost of federal regulation compliance (only) per employee is $10,585 (Small Business Administration)
- An estimated 95% of workers in a PEO arrangement have access to a pension plan (NAPEO)
- 40% of business that use PEOs upgrade their benefit packages; many receive Fortune 500 quality benefits that can include, health insurance, dental and vision care, life insurance, retirement savings, job counseling, adoption assistance, and educational benefits (NAPEO)
- 9 out of 10 PEOs provide services such as customized handbooks, recruitment, pre-employment screening, wage and compensation planning, and assistance with job descriptions (NAPEO)
- PEOs have an 88% client retention rate due to client satisfaction (NAPEO)