One of the biggest trends for small- and medium-sized businesses in South Dakota is the move to an outsourced HR business model. By doing this, companies like yours are reducing costs, improving efficiency, and making the working conditions for their employees better through the provision of better HR services.
So, what do you need to know about a Professional Employer Organization, or PEO, in order to choose one to work with? You may know that you need to outsource your HR function, payroll, or benefits management for your employees, but you may not know how to go about selecting the right PEO for you. That’s why we’re helping with this quick guide to PEO companies that currently serve businesses located in the great state of South Dakota.
To learn more about finding the best PEO company for your South Dakota business, keep reading below:
High-Level Overview of South Dakota PEO Services:
You’ll want to look at a few top things when looking at PEOs in South Dakota. An excellent provider will be able to effortlessly handle any payroll and HR tasks your business might have. You will also want to look for services such as benefits management, worker’s comp support, tax filings, and compliance support.
Most quality PEOs will also be able to help your business with recruitment, reporting expenses, training, and more. Also, the PEO will pool your employees with those of other clients when negotiating benefit costs with suppliers, so that everyone gets a better rate.
Factors for Evaluation of a South Dakota PEO Service:
South Dakota PEOs have a lot to look at, but there’s a lot that is important. Don’t worry, however, as we did the digging for you. We made sure to get the facts you need to make the right call. 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
South Dakota has more providers than you might think, so you should keep the above list in mind when making your own judgments.
We also want to make sure you work with a full solution that will meet all of your needs. 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 South Dakota
Insurance Cost Savings – South Dakota businesses can save money on health insurance by switching to a PEO, as PEOs will certainly be able to negotiate better rates than any small business on its own.
Less Paperwork – Paperwork is drudgery, but fortunately, a PEO can keep your inbox emptier.
Compliance and Legal – A PEO can handle compliance and legal issues involving employees as they come up, and your company will also get help handling South Dakota regulations. You will be able to get questions answers as the answers are needed.
FAQ About PEO Companies in South Dakota:
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? – Your business will get to use the PEO’s platforms, tools, and services. They also manage HR compliance and risk-aversion. Notably, your business will be able to provide better benefits, making your workplace a better place to work.
How Much Does it Cost To Use A PEO in South Dakota? – About $1000 to $2000 per year per employee. That being noted, the cost may change for the better if you have more employees.
How Does a PEO charge? – A PEO usually charges a percentage of your payroll or a simple admin fee per employee (which we strongly prefer).
Does it Cost Money to Switch to a PEO? – There is usually a $1000 to $15000 startup fee.
How Long Does it Take to Get Started Once I Choose a PEO? – Four weeks on average, with a range between three and six weeks.
Can I Get Health Insurance for Myself and My Family as the Founder? – The answer varies by PEO.
As the Founder, Should I Pay Myself Using a PEO? – Most likely, but your company’s organizational makeup might mean this is not the case.
Is There Anything Special to Consider When Looking at South Dakota PEOs? – You will want to make sure that your business works with a PEO that has some recruiting tools and also knows how to provide incentives that will retain your best employees, as you don’t want companies from the coast making offers you can’t easily match. You might also want to look into safety training options, depending on the nature of your business.
What is the Best PEO in South Dakota? – Each business might have a different PEO that is best for them. Check out our state-based PEO guide here.
Trying to navigate the world of PEO’s alone can be frustrating and confusing. You don’t have to go at it alone, and having a resource like us in your corner can make the difference between making a good decision and a great one. Don’t risk the future of your South Dakota business by selecting an inferior PEO.