Professional Employer Organization in Florida – what you need to know
Finding a good professional employer organization, or peo is very difficult. These companies are experts in everything that has to do with hiring and employing individuals. There are certain places that have strict rules regarding employment. Places like Florida, peo’s can assist any employer in trying to navigate through the process.
What Is A PEO?
A professional employer organization is a company that assists small and medium-sized corporations with a variety of employment functions. They can assist with human resources, payroll, benefits, tax administration, and regulatory compliance.
These businesses are experts in employment. They can provide you with statistics specifically related to your industry. A few of these things they offer are industry overview and written works related to the industry.
What Are the Benefits of Working With a PEO?
The assistance these companies offer you are worth your while. Plus, hiring a professional employer organization helps you grow your business and remain successful. Check out a few of the benefits they provide.
A company that utilizes a peo is expected to grow seven to nine percent faster. The company is also likely to have a lower turnover. The employee turnover at companies that use a PEO is ten to fourteen percent lower than that of companies that don’t. If you are starting a new business, utilizing a PEO makes your company fifty percent less likely to go out of business.
These are pretty amazing benefits. The use of a PEO seems to affect the overall health of your company. This may be because a PEO’s primary duty is to take care of the employees. Happy employees tend to work harder and care about the company they work for.
Do PEO’s Assist with Workers’ Compensation
Most PEO’s do work with workers’ compensation. Workers’ compensation is essentially a benefit that the company provides. That said, it falls within the list of jobs a professional employment organization would handle.
Florida has strict regulations regarding workers’ compensation. Almost every business must offer it. That’s why it is so essential that you find a Florida PEO to assist you in navigating through the process of finding workers’ compensation insurance.
Without this coverage, your company is at risk of being fined, sued, or shut down. These are very harsh punishments. If you do not understand the process of finding workers’ compensation insurance, a PEO would greatly benefit you.