Top PEO Member Benefits Explained
If you are starting a small business, chances are you’ve been mulling over the idea of becoming a member with a professional employer organization. The ins and outs of getting your business up and running can be a lot to handle, and a PEO can help alleviate a lot of the stress. Knowing the top PEO member benefit can be crucial when choosing the right one for you and your company. Below are the top PEO member benefits explained to help you understand what you should look for when choosing a PEO.
Look for Benefits your Employees Will Appreciate
Starting small shouldn’t mean that you can’t offer your valued employees big benefits. A PEO can make sure that you can give your employees a range of benefits. Companies with better employee benefits experience a host of advantages by doing so. Statistically, these businesses:
- Attract more qualified candidates.
- Experience lower employee turnover.
- Promote healthier workspaces with higher morale.
- See increased productivity and profits.
Not offering your team the benefits they deserve and expect may seem like an easy way to cut costs when beginning your business, but it likely won’t pay off. Let the professionals at Canal HR help you go over the best benefits packages for your team. We can provide members with ways to offer their employees:
- Health insurance
- Life insurance
- 401k retirement options
- Disability insurance
Benefit from Workers’ Comp Coverage & Effective Risk Management
When the inevitable happens and an employee is injured, having quality workers’ compensation coverage can make a huge difference. Worker’s compensation insurance is required for virtually all businesses, but without a PEO to assist with handling the claims, many things have the potential to get out of hand. Being a member of a PEO can help a company manage aspects of workers compensation cases such as:
- Recovering employee wages lost during recovery.
- Providing additional insurance coverage for medical expenses.
- Structuring back to work programs for recovered employees.
- Handling funeral costs in the unfortunate event of a work-related death.
Of course, the best workplace injury is the one that is avoided. Canal HR takes your employees’ safety a step further than other PEOs by offering risk management program development options. The best way to protect your business from potential workplace injuries is to be aware of the potential risks and formulate the most efficient ways to curb them. At Canal HR, we have a five-point strategy to help members determine what risks they are likely to fall prey to:
- Recognize the potential risks most likely to affect employees
- Measure the frequency and severity of the most probable risks
- Identify possible solutions to minimize risk.
- Determine and implement the best solutions for members business
- Monitor and record results of the risk management program
Through our risk management programs, employers and employees alike gain the peace of mind provided by a safer work environment and well-established protocols for handling the occasional on-the-clock accident.
Discover The Benefits of Seamless Payroll Preparation
Payroll prep is just another item on the never-ending to-do list that comes with running a business. Outsourcing your business’s payroll administration to a PEO can provide a litany of benefits. The fact of the matter is that proper payroll administration is tedious, arduous, and time-consuming. Moreover, missing essential aspects in the process, such as failing to complete necessary paperwork or missing rigid deadlines for submission, can result in significant setbacks for your business.
At Canal HR, we have trained and experienced payroll administration professionals with the time, skills, and dedication to ensuring that every aspect of your company’s payroll is processed without a hitch. From employee check distribution to state and federal tax calculations and beyond, getting payroll and filing information taken care of without wasting any time is a significant benefit of being a PEO member.
Reap The Top PEO Member Benefit: Saving Time and Costs with Canal HR
The top PEO member benefit of all is the value in saving time and money usually spent on overseeing daily administrative issues. Canal HR operates as your human resources department, and because this is our focus, we have the time and concentration to make sure things are handled properly and efficiently in one go-round. Moreover, Canal HR has the technical expertise to handle the legal intricacies of workers’ compensation claims and payroll administration, and more, which saves you from struggling through these processes on your own.
There are a variety of ways that a PEO can benefit your business. Canal HR takes on the administrative tasks that help keep your business running smoothly, so you can stay focused on why you started your business in the first place. To find out more about the benefits PEO members experience, contact Canal HR today.