It’s a fantastic time to be running a growing business in Mississippi. Opportunities for expansion are everywhere, and it’s exciting to be a part of a business that can capitalize on them. One excellent way to manage growth within any organization is to consider partnering with a Professional Employer Organization, or PEO, to reduce operational costs and improve efficiency.
To make the most out of any PEO partnership, it’s important for the PEO to have services and values that align with those of your business. This isn’t always easy to determine, thanks to the sheer number of PEO’s that now currently serve companies doing business in Mississippi. That’s why we’re helping with this brief comparison of the top PEO companies available to for your small or medium-sized organization.
To learn more PEO companies for your Mississippi business, keep reading:
High-Level Overview of Mississippi PEO Services:
Mississippi businesses get to benefit from PEO services in a great variety of ways, but there are a few main focuses to lock on to. A good PEO service provider will be able to manage standard HR needs starting with onboarding all the way to offboarding. Additional major benefits and services include employees benefits acquisition and administration, payroll management, quarterly tax filings, managing workers comp on a cash flow basis, and compliance policy management.
PEOs will also help your business with recruiting new employees, expense reporting, training new and old employees alike, and more. You will also be able to get better rates on health insurance and workers comp coverage, as the PEO service provider will be pooling your employees when negotiating benefit costs with providers.
Factors for Evaluation of a Mississippi PEO Service:
There is so much to consider when looking into PEO services, but we looked into the matter in-depth to make sure you get the best information available on the subject. 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
Mississippi is home to many providers, so it’s extremely important to know the best from the rest when it comes to services.
We also want to make sure you get a full PEO 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 Mississippi
Insurance Cost Savings – Mississippi businesses can save money by using a PEO to get lower health insurance rates. PEOs can obtain these rates through greater leverage in negotiation, due to their size.
Less Paperwork – Paperwork is the worst of chores. A PEO can keep the paperwork away from your desk.
Compliance and Legal – A PEO can work with your employees to solve issues and also work to deal with potentially confusing Mississippi regulations. As the owner, you should be comfortable knowing you have professionals working with you.
FAQ About PEO Companies in Mississippi:
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? – PEOs bring you reduced HR costs and the use of their helpful tools and services. They also manage risk-aversion and HR compliance. You will also be able to provide better benefits, making your employees and prospective employees happier for it.
How Much Does it Cost To Use A PEO in Mississippi? – PEOs usually cost between $1,000 – $2,000 per year per employee to use, with larger businesses getting superior rates.
How Does a PEO charge? – PEO’s will usually charge a percentage of overall payroll or a simple admin fee per employee. We prefer PEOs that charge the admin fee, as those fees are much more transparent. We find that PEOs that charge based on your total payroll have more hidden fees.
Does it Cost Money to Switch to a PEO? – There is usually a startup fee that can range from $1000 to $15,000.
How Long Does it Take to Get Started Once I Choose a PEO? – It can take from three to six weeks to set up your services. An average estimate is about four weeks.
Can I Get Health Insurance for Myself and My Family as the Founder? – Whether this option is available will vary by PEO.
As the Founder, Should I Pay Myself Using a PEO? – You should most likely you should be using the PEO service to do your own payroll, but this might change based on your company.
Is There Anything Special to Consider When Looking at Mississippi PEOs? – You will want to make extra certain that the PEO you plan on working with has specialists in your industry, given Mississippi’s diverse economy. Otherwise, you will simply want to make sure that the PEO can support all types of potential problems.
What is the Best PEO in Mississippi? – Mississippi businesses will vary, and so do PEOs. Therefore, there isn’t a simple answer to this question. Check out our state-based PEO guide here.
Are you leaning toward one PEO or another? Have you gotten all of your questions answered about the PEO’s you can work with in Mississippi? If not, and if you need more data to make a fully informed decision, we’re here to help. To obtain a free, five-PEO comparison report, just complete the form below and one of our PEO professionals will be in touch with you.