PEO - Professional Employer Organization
PEO's offer a peace of mind that comes with the expertise
of full-service HR Solutions (and that's just a part of it!)
What is a PEO?
PEO stands for “professional employer organization.” PEO's manage payroll, benefits, and other HR responsibilities for the employees of a client company. Typically a PEO has a staff with extensive experience in HR, legal, tax, client services, and accounting.
Businesses partner with PEO's to reduce the costs of administering benefits, streamline payroll operations. A PEO can cost-effectively guide companies through the challenges of compliantly hiring employees, compensating according to local laws and regulations, and should it become necessary, compliantly terminating employees to reduce risk.
In addition, PEO's are helpful in that they mitigate health insurance and benefits costs for companies. Working with a PEO is a great way for small- and medium-sized businesses to offer employees great benefits without having to burden their HR administration and in-house HR resources.
What are the advantages of a PEO?
A professional employer organization frees up a considerable amount of company resources that would otherwise be spent on payroll and other required, but time-consuming tasks.
Key advantages of aligning with a PEO include:
End-to-end payroll processing & tax remittance
A dedicated team of certified HR management professionals for guidance as needed
Compliance support for all applicable local, state, & federal laws
Workers’ Compensation insurance & EPLI at reduced costs
Support for recruitment, hiring, salaries, & background checks
Premium health insurance options at competitive rates
Offer a variety of additional employee benefits & perks
My Construction Payroll provides service and support to our clients ranging from small businesses to large businesses (No AI, or Chatbots here). Whether you have 10 employees or 500. When you partner with My Construction Payroll PEO your business will have access to your own dedicated team of Payroll Specialists to guide your business forward.
The proof is in the numbers. Companies using a PEO grow faster, are more likely to stay in business, and have less employee turnover.
Additional NAPEO research reported that the annual return on investment for cost savings alone is 27.2%. This means that for every $1,000 spent on PEO services, a client can save an average of $1,272, yielding a cost savings of $272 for every $1,000 spent.
According to NAPEO:
Small businesses grow 7-9% faster when they partner with a PEO
Employee turnover is 10-14% lower
Small businesses are 50% less likely to go out of business