A lot of challenges face growing businesses in Ohio, and one of the foremost among those challenges is how to reduce costs and improve efficiency during the growth phase. Many business owners meet this challenge by cutting expenses that are incurred by managing their human resources functions themselves. Ohio businesses are increasingly using the service of Professional Employer Organizations, or PEO’s, to accomplish this goal.
When small- and medium-sized businesses choose to partner with PEO’s, they can begin to realize immense cost savings and improvements in efficiency almost immediately. This is especially true when the right PEO is chosen – one that is in alignment with the business goals of the client. Choosing the right PEO is a challenge on its own, however, which is why we’ve created this brief guide to PEOs in Ohio.
To learn more about Ohio PEO service providers, keep reading below:
High-Level Overview of Ohio PEO Services:
Ohio businesses can benefit from PEOs in many ways, but you will want to look at the primary features. A good PEO service provider will be able to handle HR needs starting with onboarding all the way to offboarding and retirement. Other major services that you should be able to get are benefits procurement and administration, payroll management, handling workers comp on a cash flow basis, regular tax filings, and support for risk mitigation and compliance issues.
Recruitment, training, expense reporting, and additional services might also be offered by a PEO, and are important considerations. Your business will be able to get better rates on health insurance and workers comp coverage as well, through the PEO pooling your employees with others when bargaining for rates..
Factors for Evaluation of an Ohio PEO Service:
There’s a lot to consider when looking at Ohio PEOs. Yet there’s also a lot that is important. Don’t worry, though, because we looked at the providers to remove the shroud on this challenge. 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
Many PEO providers operate in Ohio, so you’ll want to do your research to find the best ones for your business.
We know that you should likely be using a full-service 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 Ohio
Insurance Cost Savings – Your Ohio business can lower its operating costs, mostly those relating to health insurance, by using a PEO. PEOs can bargain for better rates than most small businesses can dream of.
Less Paperwork – Paperwork is awful, and a PEO will help keep it away
Compliance and Legal – A PEO can help with compliance and legal compliance issues, and also help your business navigate otherwise confusing regulations. Their staff will be well-trained and professional, tackling problems you didn’t even know you had.
FAQ About PEO Companies in Ohio:
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 tools and services to improve your business, have HR compliance and risk-aversion advisement or management, and you will also be able to get better benefits for your employees (allowing your business to retain more top talent).
How Much Does it Cost To Use A PEO in Ohio? – It will be lower if you have more employees, but most PEOs cost between $1,000 – $2,000 per year per employee.
How Does a PEO charge? – You will either be paying a straight admin fee for each employee you have, or you will be paying a percentage of your total payroll. We much prefer PEOs that charge per employee, as their billing structures are clearer.
Does it Cost Money to Switch to a PEO? – There is a startup fee, and this will range from $1000 to $15,000.
How Long Does it Take to Get Started Once I Choose a PEO? – About four weeks on average, but it can take as few as three and as many as six.
Can I Get Health Insurance for Myself and My Family as the Founder? – This will change based on the PEO you select for your business.
As the Founder, Should I Pay Myself Using a PEO? – This will depend on your company’s organizational makeup, but in most cases, the answer is yes.
Is There Anything Special to Consider When Looking at Ohio PEOs? – Ohio is a great state to do business in, and the main thing to think about when PEO shopping is whether the PEO will have specialists in Ohio regulations and state laws. Otherwise, you’ll simply want to look at your industry and work from there.
What is the Best PEO in Ohio? – Unfortunately there is no clear answer on this, but there is a clear answer to this question for just your business. Check out our state-based PEO guide here.
There’s a lot to consider as you continue on your search for the best Professional Employer Organization for your Ohio business. Because we understand and we want you to succeed, we’re ready to get started on compiling your free report. Just complete the form listed on this page or contact us now to get started. We look forward to connecting you with the information you need to make the most informed decision you can.