The entire idea behind Professional Employer Organizations, or PEO’s, is to streamline core business functions such as payroll, benefits administration, and compliance so that small and medium-sized companies can run smoother with lower overhead.
We evaluated PEOs for their worthiness as an outsourced HR services provider, and we complied that information. We hope that this will help you get a feel for what to expect when working with a PEO company.
For general PEO information and additional information about Idaho PEO services, you’ll want to keep reading below:
High-Level Overview of Idaho PEO Companies:
Idaho businesses can expect different types of help from different providers, although there are a few common services that all good PEOs will offer. Any good PEO will be able to manage any standard HR need for all of your workforce, regardless of position or tenure. Other main services include payroll management. benefit acquisition and administration, quarterly tax filings, managing workers comp on a cash flow basis, compliance management, and risk mitigation and analysis.
Most Idaho PEOs also will help your business with recruiting additional team members, expense reporting, providing training courses, and other services as necessary. Your business will also be able to get lower rates on workers comp and health insurance by virtue of being part of a much larger bargaining pool. By working with a PEO, your HR team will have a lot more time on their hands, if your business even still wants an HR team.
Factors for Evaluation of an Idaho PEO Service:
PEO services in Idaho might vary by provider, and this means there’s a lot to consider when selecting your service. We reviewed each facet for you when looking into what PEO services are best for Idaho businesses. We’ve looked at each of the following items and services when reviewing PEO services:
- – 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 too many PEO services to count or remember, so you will want to make sure you know what things are important to research or ask about on your end.
However, no matter which PEO you wind up choosing, we want to make sure your business gets everything it needs. Therefore, don’t worry if an otherwise standard service or benefit is not mentioned in the recommendations above, as you can consider it available.
Benefits Of Using a PEO In Idaho
Insurance Cost Savings – PEOs save companies money, and most of those savings come from reduced health insurance costs. PEOs leverage a large pool of clients in order to get cheaper rates for their clients.
Less Paperwork – Paperwork can simply be the worst part of your day. A PEO will use the tools at their disposal to reduce paperwork for you and your business.
Compliance and Legal – PEOs will manage all compliance and legal issues regarding employees and make sure your business is compliant with any federal or local regulations. The PEO’s systems will easily and effectively handle all problems make sure your business is covered in an emergency.
FAQ About PEO Companies in Idaho:
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 and 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 reduced HR costs and the use of their time-saving tools, platforms, and services. Additionally, they manage HR compliance and risk-aversion. They generally allow your business to provide more valuable benefits to employees, making it a much more attractive employer.
How Much Does it Cost To Use A PEO in Idaho? – It generally costs between $1,000 – $2,000 per year per employee to use a PEO. Businesses with more employees will almost always get lower rates.
How Does a PEO charge? – PEO’s generally charge a percentage of overall payroll or a straight admin fee per employee. We prefer PEOs that charge the admin fee due to their transparency. We find that PEOs that charge a percentage of payroll have hidden fees and other issues that can give you nothing but trouble.
Does it Cost Money to Switch to a PEO? – There is usually a setup fee which can range from $1000 to $15,000 depending on the size and structure of your business.
How Long Does it Take to Get Started Once I Choose a PEO? – Startup time can range from three to six weeks, depending on the PEO service. The average time to get your company set up is about four weeks.
Can I Get Health Insurance for Myself and My Family as the Founder? – Some PEO’s will offer this option and others will not.
As the Founder, Should I Pay Myself Using a PEO? – We find in most cases that you should be using the PEO service to do your own payroll, although this may be different depending on your business.
Should I Know Anything About Idaho PEOs in Particular? – There isn’t too much to say about PEOs in Idaho other than the fact that you will want to make sure to pick out a PEO that knows Idaho’s laws inside and out, in order to prevent trouble down the line. Otherwise you’ll want to allign with the PEO that can match your industry’s needs the best.
What is the Best PEO in Idaho? – There are many different kinds of Idaho businesses, and there’s a best PEO for each of them, although not a best one for all of them. Check out our state-based PEO guide here.
To determine which Idaho PEO is right for you, you might want to contact us to get in touch with one of our PEO specialists. We took great care into making sure that you got the best information for your Idaho business. We’ll get back to you with our recommendations and any additional thoughts that might help you on your journey.