To grow your North Carolina business into the best version of itself, you need the most powerful tools for cost reduction and efficiency. One of these tools is a partnership with a Professional Employer Organization, or PEO. PEO’s are an excellent option for small- and medium-sized businesses that are experiencing growth and want to keep their operations simple.
By adding the help of a qualified PEO, your organization stands to significantly gain from the benefits of having more resources to assign to other areas of your organization. However, to get the most out of a PEO partnership, you need to choose the best PEO among all of the top PEO companies that operate in North Carolina. To help, we’re providing this handy guide about PEO’s in the area.
You can learn more about finding the best PEO company for your North Carolina business by continuing to read below:
High-Level Overview of North Carolina PEO Services:
North Carolina businesses can make great gains using a PEO in many different ways, although some things are most important. A good PEO service provider will be able to manage standard HR needs for employees at every level. Other services provided you should be clear on include benefits procurement and administration, payroll management, managing workers comp on a cash flow basis, quarterly tax filings, and risk mitigation and compliance support.
PEOs can help with personnel recruiting, expense reporting, employee training, and additional services as you might need them. Your business will also be able to get better rates on health insurance and workers comp coverage as well, due to the PEOs bargaining power.
Factors for Evaluation of a North Carolina PEO Service:
There are many factors to weigh and many factors to investigate. Fortunately, we’ve done the legwork on that. 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 lots of service providers in the region, so the important thing isn’t finding one but findin the right one based on the above criteria.
We want to make sure your business works 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 North Carolina
Insurance Cost Savings – Your North Carolina business can reduce costs (mostly health insurance costs) through the use of a PEO. PEOs can better negotiate with benefits providers due to their superior bargaining power.
Less Paperwork – North Carolina paperwork is no different than paperwork elsewhere: terrible. A PEO can help you reduce that paperwork.
Compliance and Legal – A PEO can help you deal with any issues regarding employees on an HR or legal level, and help you navigate regulations. Their staffs are trained for nearly anything that can come your way.
FAQ About PEO Companies in North Carolina:
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? – You will be able to use their useful tools, services, and platforms. Additionally, you will get HR support and risk-aversion support. Your business will also be able to attract better talent through better benefit offerings.
How Much Does it Cost To Use A PEO in North Carolina? – It costs about $1000-$2000 per year per employee, with larger businesses getting a better deal.
How Does a PEO charge? – You can expect either a charge based on a payroll percentage or a fee per employee. We strongly prefer the fee per employee due to it much cleare structure, as hidden fees abound in alternatives.
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 anywhere from four to six weeks, with an average of four weeks.
Can I Get Health Insurance for Myself and My Family as the Founder? – This will vary based on the PEO you work with.
As the Founder, Should I Pay Myself Using a PEO? – This will depend on your organization, but most likely yes.
Is There Anything Special to Consider When Looking at North Carolina PEOs? – Surprisingly, there aren’t too many special factors to look at when looking for a PEO in the great state of North Carolina. Your decision should mostly be focused on your needs, the current economic environment, and the industry you’re in.
What is the Best PEO in North Carolina? – There are many answers to that question based on what your business is like. Check out our state-based PEO guide here.
For your North Carolina business, there’s a lot of exciting opportunity ahead. To make the most of the chances you have to grow your business, rely on the services of a Professional Employer Organization that you can trust. To help aid in your decision, we’re offering a free, 5-PEO comparison report that you can use to make the most informed decision possible.