In the state of Utah, more and more small and medium-sized companies are realizing how much can be saved by outsourcing their HR functions to a qualified third party. This is becoming so common that Professional Employer Organizations, or PEO’s, have begun providing highly competitive services and rates, adding more and more value to the solutions they offer.
All of the recent developments in the world of PEO’s has made choosing among them a difficult task. With all of the options available to you as a small business owner, how do you know which PEO is right for your company? We’re making your decision an easier one, with this guide to PEO’s that serve companies located in Utah.
To learn more about finding the very best PEO company for your Utah business, keep reading below:
High-Level Overview of Utah PEO Services:
Utah businesses can benefit from PEOs in quite a few ways, although you will want to look at a few main features. A good PEO service provider will be able to manage regular HR needs starting with an employee’s first day all the way to retirement. Other major services provided include benefits management, payroll management, handling workers comp on a cash flow basis, tax filings, and compliance and risk-mitigation support and advice.
Most PEOs can help your business with finding new talent, reporting expenses, training programs, and other items as they might be needed. Also, your business will be able to get better rates on health insurance and workers comp coverage.
Factors for Evaluation of a Utah PEO Service:
Comparing PEOs for your business can take days of work. We did the research legwork so you don’t have to. 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 numerous providers working in Utah, so make sure to know what your priorities are when comparing services.
We want to ensure that you are working with a full-service 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 Utah
Insurance Cost Savings – Your Utah business can save money, via lower health insurance costs, by using a PEO. PEOs have more experience negotiating with benefits providers and better leverage, leading to better rates.
Less Paperwork – Paperwork is the worst. PEOs can help keep it away.
Compliance and Legal – A PEO can help your business navigate Utah state laws and regulations, help resolve issues with employees, and answer questions you might have.
FAQ About PEO Companies in Utah:
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? – The main benefits of using PEOs are lower HR costs and the use of some excellent time-saving tools and services. They also manage HR compliance and risk-aversion for your business. They also let your business provide better benefits to employees, making it a better place to work.
How Much Does it Cost To Use A PEO in Utah? – It generally costs between $1,000 – $2,000 per year per employee to maintain the services of a PEO. Businesses with more employees will get better pricing.
How Does a PEO Charge? – Either through a straight admin fee per employee or as a percentage of your payroll. PEOs that charge the fee are preferable to us, as they’re easier to work with as a general rule.
Does it Cost Money to Switch to a PEO? – Yes, anywhere from 1000 to $15,000, depending on your business.
How Long Does it Take to Get Started Once I Choose a PEO? – The average time you can expect is about four weeks. You can expect an average wait time of four weeks, but the time might be anywhere from three to six weeks.
Can I Get Health Insurance for Myself and My Family as the Founder? – Some PEO’s will offer this option. Other’s won’t.
As the Founder, Should I Pay Myself Using a PEO? – Yes, with a few rare exceptions.
Is There Anything Special to Consider When Looking at Utah PEOs? – Utah business owners might want to look into a PEO that can not only provide excellent HR support but also provide some of the most competitive benefits available, in order for their businesses to remain competitive when looking for new employees in a potentially tough region. Outside of this, we recommend owners find a PEO that knows how to handle Utah state laws as well as knows the ins and outs of their industry.
What is the Best PEO in Utah? – Utah businesses can vary greatly, and as such, there is no single best PEO. Check out our state-based PEO guide here.
If your Utah business could benefit from outsourced HR services, don’t forego the value of having a third party supply you with comparison information. Please feel free to reach out to one of our consultants or use our comparison tools.