A company is only ever as good as its staff. They are the lifeblood behind your whole operation and without them, the whole day to day operations would fall entirely to you. There are only 24 hours in a day, do you think you could manage it all? Unless you are superhuman, it isn’t going to happen. You need your staff to continue on your road to success.
The question is, how do you get the right staff?
The right staff can elevate you to new levels of success but bad staff can drag you right back to rock bottom if you let it. To get the very best staff you can use a Professional Employer Organization or PEO. There are numerous PEO’s out there, however, so how do you know you’ve chosen the best one?
For more information about PEOs in the state of Delaware, keep reading below:
High-Level Overview of Delaware PEO Companies:
Each PEO service provider can help Delaware businesses in different ways, albeit you can expect a few things in common among all of them. They will all be able to manage your business’ HR needs from onboarding to termination of employment. Major services include benefits acquisition and administration, payroll management, quarterly tax filings, managing workers comp on a cash flow basis, compliance management, and risk mitigation.
Delaware PEOs (at least most of them) can also help your business with recruiting, expense reporting, training, and other services depending on your business’ needs. Additionally, by moving your HR responsibilities to a PEO, you will be able to use the power of a large employee bargaining pool, which means lower workers comp and health insurance prices for your business. Your HR department should you have one will be able to act more effectively and won’t be nearly as much of a financial consideration for your business.
Factors for Evaluation of a Delaware PEO Service:
PEO services vary by provider and as such there are many factors to take into consideration for a provider in Delaware. Each point is and we put in the effort to make sure we found the best options for your business. We reviewed the following items when looking at each PEO:
- – Tax processing
- – Payroll processing
- – Health insurance options and support
- – HR regulation compliance assistance or management
- – HR management and consulting support
- – Recruiting and onboarding support
- – Safety compliance and risk management
- – Time, attendance, and productivity tracking tools
- – Customer service and feedback
- – Additional features and specializations
There are many service providers, so you will need to know the most important factors to look at when selecting a provider for your Delaware business.
Whicher PEO you end up choosing, we make sure to only recommend full solutions that will accommodate all of your needs. Therefore, if an otherwise standard service or benefit is not mentioned in the recommendations above, please consider it available.
Benefits Of Using a PEO In Delaware
Insurance Cost Savings – Most savings come from lower health insurance costs, and companies hire PEOs for just this purpose. When you use a PEO, you will be able to leverage a large pool of clients to get cheaper rates for your business.
Less Paperwork – You’re likely already getting plenty of paperwork. A PEO will use their technology platform to reduce paperwork for your business.
Compliance and Legal – A PEO manages all compliance and legal issues regarding employees, even otherwise confusing state or city regulations. You can expect a PEO to help and advise you should a problem arise.
FAQ About PEO Companies in Delaware:
What is a PEO? – A PEO (Professional Employer Organization) allows a business to outsource its employee management, have other HR tasks handled for them, and gives personnel management support when needed. They will manage your payroll, tax forms and payments, insurance (health care benefits and workers compensation) and other benefits such as retirement plans, life insurance, long-term disability insurance, vision insurance, dental insurance, employee wellness programs, and on-boarding new employees.
What Are the Benefits of Using a PEO? – The main benefits of using PEOs are reduced HR costs and the use of their time-saving tools, platforms, and services. Additionally, they manage HR compliance and risk-aversion. They allow businesses to provide more value to employees, making it a more attractive employer and one employees will want to stick with.
How Much Does it Cost To Use A PEO in Delaware? – It generally costs between $1,000 – $2,000 per year per employee to use a PEO. Businesses with more employees will be able to get better rates.
How Does a PEO charge? – PEO’s generally charge a percentage of payroll or a straight admin fee per each employee. We prefer PEOs that charge the admin fee, as those fees are more transparent. We find that PEOs that charge a percentage of payroll often have hidden fees and other issues when you review and go to pay the bill.
Does it Cost Money to Switch to a PEO? – There is usually a notable startup fee which ranges from $1000 to $15,000, depending on the size of the business.
How Long Does it Take to Get Started Once I Choose a PEO? – The startup time on your service can range from three to six weeks, depending on the PEO working. The average time to set up a business with service is about four weeks.
Can I Get Health Insurance for Myself and My Family as the Founder? – Some PEO’s will offer this option. Other’s will not offer it.
As the Founder, Should I Pay Myself Using a PEO? – While this can vary depending on your company and its organizational makeup, you likely should be using the PEO service to do your own payroll.
Should I Know Anything About Delaware PEOs in Particular? – Delaware is known for being a smaller state, so some PEOs might not give businesses in it the same treatment as businesses in New York or California. You’ll want to make sure when looking at a PEO that it will give your business the full range of services. There are also relatively fewer PEO services operating in the state, but there are still at least dozens to choose from.
What is the Best PEO in Delaware? – Delaware businesses have different needs, making the answer different for each owner. Check out our state-based PEO guide here.
With so many different PEO’s all offering different benefits and pricing the choice really is unique to the individual. You will want to look further into the matter and make sure that there are services available to Delaware businesses in particular so that your needs are met as an owner. Consider using the above tools and information in order to make the best choice, and we wish your business nothing but success in the future.