Wish you could offer bigger benefits at your small business?
Offering benefits is integral to hiring and retaining the right employees. According to a 2013 Aflac Report, 68 percent of workers who are satisfied with their overall benefits packages are also satisfied with their jobs. Additionally, a recent GlassDoor study showed that 79 percent of employees would prefer new or additional benefits or perks over a pay increase.
Why Get Employee Benefits Through a PEO?
Small Businesses that work with a PEO have access to a variety of employee benefits such as medical, dental, vision insurance, short and long term disability, life insurance and retirement plans. Because a PEO can pool many small businesses together under their umbrella, it allows them to get very competitive rates from insurance companies, therefore, passing those discounts on to you, the business owner. When you obtain benefits for your employees, you pay for them along with your other PEO services and won’t have to make separate payments or transactions.
What Kind of Health Benefits Are Offered?
PEO’s usually work with several providers which allow you and/or your employees to choose from a range of plan options with different deductibles and co-pays. The PEO will put the coverage in place for you and help manage ongoing enrollments and remittance.
401k Retirement Plans
Several of our PEO partners have the ability to setup and administer 401k plans for your employees. This will help retain your employees and prepare them for their financial future. Your employees will have quality investment options, and you will have the ability to decide on eligibility, profit sharing, and how much, if any matching percentage you would like to contribute. Again, these payments are all processed along with your other PEO services so you won’t have to remit multiple payments to different providers.