Did you know that one of the best ways for your Vermont business to thrive is to cut costs and increase efficiency through the use of a Professional Employer Organization, or PEO? It’s true – PEO’s can reduce overhead by taking on the critical HR operations that are vital to your small- or medium-sized business.
These operations can include payroll, benefits administration, workers compensation claim management, and more. But, the biggest question is this: which PEO is right for you? To answer this question, a lot of factors need to be considered. This is why we’ve compiled this quick and easy comparison of three of the top PEO companies in Vermont.
To learn more about finding the absolute best PEO company to help your Vermont business, keep reading below:
High-Level Overview of Vermont PEO Services:
Vermont businesses have a lot to gain by pairing with a PEO, but the right choice requires looking at a few main features. First, a good PEO must be able to handle your payroll and HR needs. A good provider will also be able to handle benefits management, tax filings, workers comp, and compliance support.
Most PEOs also can help with recruitment, training, expense reporting, and a large number of other services that might vary a bit depending on the provider. Also of important note is that your business will be able to get great rates on health insurance and workers comp coverage by using a PEO.
Factors for Evaluation of a Vermont PEO Service:
Vermont PEO services can be tricky to compare, but we put our best minds on it so the important pieces of information don’t fall through the cracks. 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 quite a few PEO service providers working in Vermont, so it’s important to know what to look for and what’s most important.
We also want to make sure that your final selection will be 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 Vermont
Insurance Cost Savings – Your Vermont business can reduce health insurance costs by using a PEO. PEOs know exactly how to negotiate benefits and have the leverage needed to do so effectively.
Less Paperwork – Paperwork is often just a mess, but a PEO can help clean it up.
Compliance and Legal – A PEO can manage compliance and legal issues that come up regarding your employees, and also work with potentially confusing Vermont regulations. The PEOs professional staff and systems will help you through most challenges.
FAQ About PEO Companies in Vermont:
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? – Reduced HR costs and the use of time-saving tools and services. Additionally, they also manage HR compliance and risk-aversion support. You will also be able to get better benefits for your employees.
How Much Does it Cost To Use A PEO in Vermont? – It costs between $1,000 – $2,000 per year per employee to use a PEO, as a general rule. If your business has many employees, you’re more likely to get a good rate.
How Does a PEO charge? – PEOs either charge a fee per employee or a percentage of your total payroll. We prefer PEOs that charge the more clear straight fee.
Does it Cost Money to Switch to a PEO? – There is a startup fee to look out for. It will run anywhere from $1000 to $15000.
How Long Does it Take to Get Started Once I Choose a PEO? – About four weeks on average. It could take as few as three or as many as six.
Can I Get Health Insurance for Myself and My Family as the Founder? – This will depend entirely on the PEO you are using.
As the Founder, Should I Pay Myself Using a PEO? – Yes, but there might be exceptions based on your company’s organizational structure.
Is There Anything Special to Consider When Looking at Vermont PEOs? – Some Vermont businesses have reported problems getting talented employees to come to their business, so you may want to find a PEO that can give you a leg up over the competition on that front. Otherwise, we recommend you look more into what PEO is best for your industry.
What is the Best PEO in Vermont? – Vermont businesses will vary, and so will PEOs. Because of this, the “best” PEO will change from business to business. Check out our state-based PEO guide here.
Without a doubt, there is a lot of PEO’s to choose from. Vermont business owners can sometimes feel a bit lost when navigating the world of employee leasing companies, which is completely understandable considering the volume of information that is out there.
When you need help making sense of all the options, we are here to help. With PEO experts who know what makes for a high-value PEO, our team can assist you during the PEO selection process. And, it’s completely free! So, if you are trying to find the best PEO to help you reduce operating costs and improve efficiency, you’ll want to know more about our free, five-PEO comparison report.
We know that the more information you have at your fingertips, the better decision you’ll make. We want to see your business soar, which is why we’re offering this incredible resource to you, for free! Use this information to help you make the best decision possible – for you, your company, and your future.