The first question most people want to ask when they hear the term PEO broker is what it is. The term refers to Professional Employer Organization which is a brokerage that can provide low worker’s compensation, payroll, HR services, and health insurance to any company. In turn, each and every business that invests here has a one stop shop to turn to for all the PEO needs that they may have at any given time. These can be anything from corporate tax liability, to worker’s compensation, to payroll administration, and so on and so forth. When a PEO broker handles all these for any business, there is a chance that the business will save up a lot on things like health insurance and worker’s compensation. How can you choose one that is perfectly suited for your business? Find below some factors to consider when looking for the best PEO broker.
A free consultation needs to be the first step. Check around near you to see some of the reputable choices you can choose from to approach for this consult. Visit their websites to discover more about the work that they do and how they can help your company.
Look at their reputation as well. There ought to be tons of reviews and client testimonials that can be quite helpful here. It is here in this section that you can discover a whole lot more about the company that you would otherwise miss on the websites. It is how you get further insight about it all.
You should also take in the cost of the services. You should weigh the costs of hiring an in-house team to deal with all duties and responsibilities that the PEO shall undertake versus the cost of hiring the PEO broker. After this, get a few quotes from the companies that offer these services so that you can compare them to see which one offers the best services at an affordable rate. This is how you can get the services that you need at a great bargain.
Look at the kind of experience the PEO broker has. Imagine working with a relatively new PEO on the scene and all the chaos that would follow? Ensure that you have picked one that has the expertise, skills, and knowhow around this field to avoid getting stranded along the way.
What about the licensing and approval of the PEO broker? You want to give the right PEO broker the privilege of knowing your company this intimately, not just any out there. So do your due diligence and ensure that you are working with one that the government can account for and vice versa.