Are you searching for outsourced HR services like payroll, benefits administration, and workers compensation claim management? Companies throughout Tennessee and the nation are looking to Professional Employer Organizations as solutions to the challenges of growing a business.
With as much demand for PEO’s as we’ve seen within the market, it’s no surprise that multiple, newer PEO providers have arrived on the scene. Before you make the decision on which PEO is best for your Tennessee business, be sure you’re evaluating every possible alternative. This article will help, with a guide to popular PEO companies that serve small and medium-sized companies in Tennessee.
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Keep reading this guide to find more information about PEOs and Tennessee PEOs in particular:
High-Level Overview of Tennessee PEO Services:
Tennessee business owners should look at a few things above others when looking at PEOs. A strong provider will handle payroll and HR needs without issue, for all employees. Other major services include benefits management, workers comp support, tax filings as needed, and risk mitigation.
PEOs can also help you with personnel recruitment, reporting expenses, training new and old employees, and other services depending on the service provider. A very important note is that through strong bargaining a PEO will be able to get your business better rates on health insurance and worker’s comp coverage.
Factors for Evaluation of a Tennessee PEO Service:
Tennessee business owners will have a lot to look at (and it’s all important) when searching for the right PEO, but we’re right there beside them guiding the way. 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 many service providers working in Tennessee, so keep notes handy when you’re narrowing the field.
We also want to be sure that no matter what PEO you pick that you get 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 Tennessee
Insurance Cost Savings – Your business can save money on health insurance costs by using a PEO. PEOs can negotiate with quite a bit of leverage on their side, keeping the rates low for your business.
Less Paperwork – Paperwork is a headache. A PEO can help be the cure.
Compliance and Legal – A good PEO will handle compliance and legal issues regarding employees as they come up, and guide you when it comes to state regulations. You can expect quick and professional advice in most circumstances.
FAQ About PEO Companies in Tennessee:
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 time-saving technologies and platforms alongside helpful services. HR compliance and safety measure assistance is also commonly available. Finally, you will be able to provide better benefits to employees, keeping your business a competitive employer.
How Much Does it Cost To Use A PEO in Tennessee? – It costs (in most cases) between $1,000 – $2,000 per year per employee to use a PEO, but businesses with more employees can get better rates.
How Does a PEO charge? – You can expect a bill based on either a percentage of your payroll (not recommended as there are often hidden fees) or a fee per employee (recommended and more transparent).
Does it Cost Money to Switch to a PEO? – There is almost always a startup fee, and it can range from $1000 to $15,000.
How Long Does it Take to Get Started Once I Choose a PEO? – The time it takes to start up your services can range from three to six weeks. The average time you can expect is four weeks or so.
Can I Get Health Insurance for Myself and My Family as the Founder? – Some PEO’s will offer this option, and others will not have anything to do with it.
As the Founder, Should I Pay Myself Using a PEO? – This will mostly depend on your company’s organizational makeup, but in most cases, you should be using the PEO service for this.
Is There Anything Special to Consider When Looking at Tennessee PEOs? – Fortunately for you, there aren’t as many extraneous factors and regulations to consider as one might find in other states. Our recommendation is to simply make sure you get a PEO that can fully support businesses in your industry.
What is the Best PEO in Tennessee? – While some PEOs are generally better, your business will ultimately be the deciding factor here. Check out our state-based PEO guide here.
If you’re like most business owners, you dislike wasting time. You could spend hours and hours searching the internet and other resources for the best PEOs for your Tennessee business, or you could just complete the form on this page, and have one of our PEO experts consult with you 1-on-1, to get you the most appropriate PEO recommendations for you.