New York businesses aren’t just in the city, and while many sites will pander to the metropolitan, we want to make sure that all New York businesses get the attention and recommendations they deserve when it comes to PEO companies. The regulations can be quite different, and the industry makeup covers entirely different walks of life. Simply put, priorities might be different.
The opportunities are ripe in New York, however, with a stable economy and a more wealthy customer-base. A small business or start-up has the opportunity to thrive, and a PEO can help you get there.
With our recommendations, you’ll have the resources to focus on the most important parts on your business and avoid the HR red tape nightmare. There are many factors to consider, and all you’ll need to do is determine just what you want.
To learn more about finding the best PEO company for your New York business, keep on reading below:
High-Level Overview of New York State PEO Services:
New York businesses can benefit from PEOs in many different ways, although you will want to look at a few primary features. A good PEO service provider will be able to manage standard HR needs starting with onboarding all the way to offboarding. Other major services provided include benefits procurement and administration, payroll management, managing workers comp on a cash flow basis, quarterly tax filings, and risk mitigation and compliance.
Recruiting, expense reporting, training, and other services are also available from PEOs. Additionally, since PEO service providers pool employees when negotiating benefits with providers, your business will be able to get better rates on health insurance and workers comp coverage.
Factors for Evaluation of a New York PEO Service:
The New York PEO service market is a puzzle to unravel, but an important puzzle to know inside and out. We’re here to help you figure out the vital stats and services to look at. We considered each of the following features and services when reviewing 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 almost too many providers on the New York market, so you would have your work cut out for you if you want to review them all. Consider the above points and what’s most important to you as a business owner.
In New York, you will also want a full-service solution, and we consider that important.. As such, you should consider available any standard service or benefit that is not mentioned in the recommendations above.
Benefits Of Using a PEO In New York
Insurance Cost Savings – Your New York business can expect lower health insurance costs by using a PEO, as they have better leverage on benefits providers.
Less Paperwork – Paperwork in New York is a nightmare already. You can have a PEO help wake you up.
Compliance and Legal – A PEO can help you navigate New York regulations and also help with any issues that arise involving employees.
FAQ About PEO Companies in New York:
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? – Lower HR costs and a range of helpful tools and platforms alongside helpful services. You will also get HR compliance and risk-aversion help, and you can expect to be able to get better benefits for your employees.
How Much Does it Cost To Use A PEO in New York? – The general cost to expect is between $1000-$2000 per year per employee to use a PEO, with larger businesses getting better prices.
How Does a PEO charge? – PEO’s charge a percentage of overall payroll or an admin fee per employee. We find the admin fee per employee to be the easier option in most circumstances.
Does it Cost Money to Switch to a PEO? – There is a fee which ranges from $1000 to $15,000.
How Long Does it Take to Get Started Once I Choose a PEO? – The average time you can expect is about four weeks. It can vary from three to six weeks based on the PEO, but you can expect an average wait time of four weeks.
Can I Get Health Insurance for Myself and My Family as the Founder? – The answer to this will depend on the PEO you set your business up with.
As the Founder, Should I Pay Myself Using a PEO? – Almost certainly, with a few exceptions.
Is There Anything Special to Consider When Looking at New York PEOs? – Given the number of city and state laws in New York, you will want to make sure you work with a PEO that knows how to navigate the libraries full of laws to navigate. If you operate in New York City you’ll 100 percent want a PEO that can support that. Outside of those factors, you will want to look at the industry you’re in and base your decision primarily on that and what you’re looking for.
What is the Best PEO in New York? – There are many, many answers to that question based on your size, industry, and location. Check out our state-based PEO guide here.
New York State has its own needs when it comes to HR and payroll management, and getting a subpar PEO service can only serve your business wrong. Fortunately, by picking a recommended service, you’re far more likely to get exactly what you and your employees need.
What are your thoughts? If you have tried any of the above services or own a business in New York State and have any questions, please leave a comment below. We’d be happy to help you out as best we can.