Ever wondered what is a PEO broker? The term refers to Professional Employer Organization which is a brokerage that can provide low worker’s compensation, payroll, HR services, and health insurance to any company. The advantage of hiring such a broker is that, every company gets this responsibility off their hands and focus on more income generating activities. These can be anything from corporate tax liability, to worker’s compensation, to payroll administration, and so on and so forth. When a PEO broker handles all these for any business, there is a chance that the business will save up a lot on things like health insurance and worker’s compensation. There are a few choices here now, so choosing the perfect one for your business quite tricky. Here is how to find the best PEO broker.
Well, you will need to get a free consultation first. Check around near you to see some of the reputable choices you can choose from to approach for this consult. Visit their websites to discover more about the work that they do and how they can help your company.
Look at their reputation as well. By reading what others are saying about their services on feedback and reviews, you will discover more about this. It is here that you can learn more about the services that they offer, the customer service aspect, truly about anything. This will give you further insight into the company and what they have to offer.
Another vital factor to consider is the cost of the service. Do a cost analysis to determine if hiring an in-house team to do these duties and responsibilities may be better than hiring this broker. Once you do this, solicit the quotations for the work from the brokers so that you can start to look at the differences there. Getting a great bargain here is as simple as that.
Look at the kind of experience the PEO broker has. Imagine working with a relatively new PEO on the scene and all the chaos that would follow? Get one that has invested time and money in the business as this will assure you of expertise, skills, and knowhow.
What about the licensing and approval of the PEO broker? Not all brokers are licensed which means that you would be risking a lot of your private information if you hired one that doesn’t have proper approvals. So do your due diligence and ensure that you are working with one that the government can account for and vice versa.