When you think of business in Florida, you can think of a sunny, growing market with a massive customer base and opportunities for nearly every kind of industry. If you’re reading this, you’re likely down the path to accomplishing your business goals already. Yet how you can make things easier for yourself? A PEO is likely the answer, at least when it comes to your HR needs.
Yet Florida has a unique business environment. The business climate just isn’t the same as it is in the rest of the United States. So that’s why we reviewed a range of services and selected the best options for you.
You can get more information about Florida PEOs by reading below:
High-Level Overview of Florida PEO Services:
Each PEO service provider can help your Florida differently, but there are a few things you can come to expect. Every worthwhile PEO will be able to manage normal HR needs for new and old employees alike. Main services provided include benefits and benefits administration, payroll management, tax filings, handling workers comp on a cash flow basis, regulation compliance management, and risk mitigation services.
Additionally, PEOs in Florida can and will also help your business with the recruitment of new team members, expense reporting information management, training, and additional industry-specific services. By transferring your HR responsibilities to a PEO service provider, you will also be able to use the power of a large employee bargaining pool to get discounted benefits and workers comp pricing.
Factors for Evaluation of a Florida PEO Service:
PEO services vary by provider, and as such there are many factors to take into consideration. Every factor is an important one when reviewing PEOs, so we took our time in searching for the best all-around PEO service provider, particularly for the unique state of Florida. We’ve reviewed the following items and services 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 big-name PEO service providers, so you will need to know the most important factors to look at when selecting a Florida provider.
Regardless of which PEO you end up choosing, we will make sure your business works with a full solution that fits all of your needs. As such, if an otherwise standard service or benefit is not mentioned in the recommendations above, please consider it available.
Benefits Of Using a PEO In Florida
Insurance Cost Savings – PEOs are hired to help save companies time and money, and most of that savings come from lower health insurance costs. PEO clients get to leverage a large pool of clients to get cheaper rates and generally better service for your business.
Less Paperwork – Do you want to do paperwork in a hot and humid office all day? A PEO will streamline items and take care of many things for you, reducing paperwork for you and your business.
Compliance and Legal – A PEO can and will manage any compliance and legal issues regarding employees that arise.
FAQ About PEO Companies in Florida:
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 (for the most part). 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 generally allow your business to provide more value to current and future employees, making it a more attractive employer.
How Much Does it Cost To Use A PEO in Florida? – It generally costs between $8,000 – $13,000 per year per employee to use a PEO. Businesses with more employees will usually get lower rates.
How Does a PEO Charge? – PEO’s generally charge a percentage of overall payroll or a straight admin fee per employee. We, as a rule, prefer PEOs that charge the admin fee, as those fees are more transparent. We find that PEOs that charge a percentage of payroll have hidden fees and other issues when you review and go to pay bills.
Does it Cost Money to Switch to a PEO? – There is usually a startup fee which ranges from $1000 to $15,000, depending on the size and structure of the business.
How Long Does it Take to Get Started Once I Choose a PEO? – Startup time can range from three to six weeks, depending on the PEO service used. The average time to get everything settled is about four weeks.
Can I Get Health Insurance for Myself and My Family as the Founder? – Some PEOss will offer this option. Other’s will require you to find an alternative solution.
As the Founder, Should I Pay Myself Using a PEO? – You should more often than not be using the PEO service to do your own payroll, although this might vary depending on your company’s structure.
Is There Anything of Particular Note About Searching for a PEO Company in Florida? – Florida is a state with a wide range of businesses and a wide range of needs, especially considering the environment. You want to work with a PEO that can accommodate those seasonal needs and potential emergencies instead of going through the motions. Look for a PEO that works with your industry well and provides industry-specific services.
What is the Best PEO in Florida? – Florida businesses will have different needs from one another, and as such the best PEO will vary from business to business.
Florida is a great place to grow your business, and with a top PEO company by your side handling HR and compliance issues for you, you can rest assured that the vision you have for your Florida company will come that much closer to reality.
Do you have a Florida business and have any questions on the above services? Have you already used one or more of the services above and have some thoughts? Either way, we’d love it if you shared your experiences in the comments section below.