Deciding to partner with a Professional Employer Organization, or PEO, is an important step for any small- or medium-sized business who wants to grow their organization. The reason PEO’s have become so popular in New York in particular is because of the growing need for business owners to focus on running their businesses, letting the PEO manage HR and related functions.
Any company that is considering a PEO would do well to evaluate as many as possible, as PEO’s vary widely in their scope of services and client suitability. To help you make sense of all of the options, we’re comparing three of the Top PEO Companies in New York.
Editor’s Note: Want a professional report of the five best PEO’s for your organization? Complete the form below, and a PEO specialist will contact you with more information:
HIGH-LEVEL OVERVIEW OF NEW YORK PEO SERVICES:
There are lots of benefits your New York business can receive by using a PEO, but before selecting one, you need to review a few key features. A solid PEO will take care of all your HR needs and offers your employees better benefits.
PEOs have a high bargaining power experience that allows your business to utilize the best rates on workers’ comp coverage and health insurance costs. They can also help with recruiting, training, tax filings, and other additional services.
FACTORS FOR EVALUATION OF A NEW YORK PEO SERVICE:
There are many facets to consider when evaluating a New York PEO service provider. We have done the better part of the research by providing you with adequate information, you must know before choosing a PEO. Here are the services and items we considered when reviewing each PEO in New York.
• Tax processing
• Payroll processing and payroll taxes
• Health insurance options and support
• Workers compensation insurance
• 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
You can talk to us for extra help on which is the best PEO for your New York business, or you can use the recommendations above to find one.
BENEFITS OF USING A PEO IN NEW YORK
Insurance Cost Savings – PEOs can successfully negotiate better rates with benefits providers, which can reduce your health insurance costs.
Less Paperwork – You can do away with the stressing paperwork by using a PEO, which uses automated service to keep it to a minimum.
Compliance and Legal – New York is a strict state or city to have your business because of the fluctuating laws and regulations. You need a good PEO that can adjust to these changes while still handling all your employees’ compliance and legal issues.
FAQ ABOUT PEO COMPANIES IN NEW YORK:
What is a PEO? – – A PEO (Professional Employer Organization) provides a business with a platform where they can outsource their HR tasks, such as employee and personnel management. They manage businesses’ payroll, employee wellness programs, onboarding new employees, tax forms and payments, insurance, and many other benefits.
What Are the Benefits of Using a PEO? – With a PEO, you can increase workplace productivity by providing your employees with better benefits. You also have the chance to use their time-saving tools and services.
How Much Does It Cost to Use A PEO in New York? – There is a general cost of $1000 -$2000 per employee per year to use a PEO service provider in New York.
How Does a PEO charge? – You can find most PEOs charging a percentage of the overall payroll or a straight admin fee (preferred option) per employee.
Does it Cost Money to Switch to a PEO? – We expect a setup fee to range from $1000 to $15000, but it also depends on your business.
How Long Does It Take to Get Started Once I Choose a PEO? – It depends on the PEO, but it usually takes three to six weeks, with an average of four weeks as startup time.
Can I Get Health Insurance for Myself and My Family as the Founder? – Some PEOs offer this option, while others don’t.
As the Founder, Should I Pay Myself Using a PEO? – Yes, but with rare exceptions.
Is There Anything Special to Consider When Looking at New York PEOs? – You should consider getting a PEO that handles all your HR tasks and also abides by the state’s regulations and laws.
What is the Best PEO in New York? A good PEO in New York for one business might not be ideal for another. Get more info by checking out our state-based PEO guide here.
Let your New York business grow in the right direction and achieve maximum success by using a PEO. If you can’t find one quickly, then fill out the comparison form above, or contact us for a brief consultation.