There’s a lot of opportunity for success if you’re a business owner in Indiana – this state has seen some incredible progress in recent years, especially when it comes to saving costs and improving efficiency through partnerships with Professional Employer Organizations, or PEO’s. PEO’s help to remove the burden of HR-related functions, freeing up resources that can be used to grow your business.
Determining which PEO is right for your Indiana company isn’t always an easy task, however. This is because of the huge volume of PEO providers that are available to choose from. They all have their own unique selling points, so we’re comparing the top three of them. Use this comparison to help you make the best decision for your business.
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To learn more about finding the best PEO company for your Indiana business, keep reading below:
High-Level Overview of Indiana PEO Services:
Indiana 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.
You will also be able to expect most PEOs to help your business with personnel recruiting, expense reporting, employee training, and more. And since the PEO service provider will be pooling your employees with many others when negotiating benefit costs with providers, your business will be able to get better rates on health insurance and workers comp coverage.
Factors for Evaluation of an Indiana PEO Service:
There are many factors to consider when evaluating an Indiana PEO service. Nonetheless, every major facet of a provider is important, and we’ve looked into everything to make sure that you get the right information. 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 quite a few PEO service providers available in Indiana, so it’s important to know what to look for when doing your shopping.
We want to make sure that regardless of your final selection that you will work with a full solution. 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 Indiana
Insurance Cost Savings – Your Indiana business can reduce costs, mostly health insurance costs, by using a PEO. PEOs can more effectively negotiate with benefits providers considering their greater bargaining power.
Less Paperwork – Paperwork is the absolute worst. A PEO will work to keep paperwork at a minimum.
Compliance and Legal – A PEO can manage all compliance and legal issues regarding your employees, and also work with potentially confusing Indiana regulations. The PEOs professional staff and systems will take care of anything that would give an owner difficulty.
FAQ About PEO Companies in Indiana:
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, and they will do so with expert care.
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 and services. They also manage HR compliance and risk-aversion. They usually allow your business to provide better benefits to employees. This makes your business a better place to work each day.
How Much Does it Cost To Use A PEO in Indiana? – It usually costs between $1,000 – $2,000 per year per employee to use a PEO. Businesses with more employees will get a better rate.
How Does a PEO charge? – PEO’s generally charge a percentage of overall payroll or a straight admin fee per employee. PEOs that charge the admin fee are preferable, as those fees are much easier to understand. We find that PEOs that charge based on payroll have more hidden fees and are more obtuse to work with.
Does it Cost Money to Switch to a PEO? – There is usually a startup fee. This ranges from $1000 to $15,000, depending on your business.
How Long Does it Take to Get Started Once I Choose a PEO? – Depending on the PEO, the time it takes to start up your services can range from three to six weeks. The average time you can expect is about four weeks.
Can I Get Health Insurance for Myself and My Family as the Founder? – Some PEO’s will offer this option and others will not.
As the Founder, Should I Pay Myself Using a PEO? – This will depend on your company’s organizational makeup, but most likely you should be using the PEO service to do your own payroll.
Is There Anything Special to Consider When Looking at Indiana PEOs? – Given the number of cities and state laws in Indiana, you will want to make sure you work with a PEO that knows how to navigate local regulations. Otherwise, you will want to look at the fundamentals when judging your PEO company, as Indiana has few other special needs.
What is the Best PEO in Indiana? – Not all PEOs are equal, but some PEOs are best for some types of businesses. Check out our state-based PEO guide here.
To locate the perfect Professional Employer Organization for your growing business in Indiana, it never hurts to have the best and most accurate information possible. To help with this task, we’re offering a free, customized report that compares the top five PEO’s that operate in Indiana. To get started and to receive your free report today, complete the form on this page.