Searching for the right PEO company for your Illinois business? You’re not alone…IL companies in Illinois and elsewhere in the state have started looking to Professional Employer Organizations, or PEO’s, for help with their HR functions and the options to choose from have grown to impossibly large numbers.
Now more than ever, PEO’s are fighting hard to win your business. They’re offering more services for lower fees, which makes finding the right one for your company a potentially time-intensive task. But, it doesn’t have to be – we’re comparing three of the top PEO firms that service the Illinois area, so you can get a jump start on your research.
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 ILLINOIS PEO SERVICES:
There many and different factors to look at while considering the benefits you could get from working with the right PEOs in Illinois. They can rationalize your HR department, leaving you with more time that you can transfer to other sectors of your business.
A good PEO manages your day-to-day HR responsibilities and also ensures your employees are getting the best rates by negotiating with benefits providers. Some of the tasks they handle include payroll processing, tax filing, expense reporting, onboarding of new employees, workers comp and compliance management, and many more.
FACTORS FOR EVALUATION OF AN ILLINOIS PEO SERVICE:
Illinois PEO service market is not an easy one to pass by, and there are vital things you must check before working with any PEO. Here are the services and items we used when reviewing each PEO company that you can find in Illinois.
• 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
Keep the factors above in mind if you ever decide to take the long trip of looking for a PEO that will suit your business the best.
BENEFITS OF USING A PEO IN ILLINOIS
Insurance Cost Savings – PEOs can save you money through their negotiation skills with benefits providers to enjoy lower health insurance costs.
Less Paperwork – Say no to paperwork by using a PEO, which keeps the loads to a minimum.
Compliance and Legal – A PEO is what you need if you want to navigate through any laws or regulations in Illinois that you might not be aware of. They can also handle all your employees’ compliance and legal issues that may arise at any level or time.
FAQ ABOUT PEO COMPANIES IN ILLINOIS:
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? – You can get time-saving tools and enjoy lower services costs as benefits for working with a PEO. They can also help you in managing all your HR compliance and risk-aversion practices.
How Much Does It Cost to Use A PEO in Illinois? – The general cost to expect is between $1000-$2000 per employee per year to use a PEO.
How Does a PEO charge? – Most PEOs will charge the preferred simple admin fee or a percentage of the overall payroll per employee.
Does it Cost Money to Switch to a PEO? – There is a startup fee that ranges from $1000 to $15000.
How Long Does It Take to Get Started Once I Choose a PEO? – It can vary from three to six weeks, but on average, a PEO can take four weeks to start running properly.
Can I Get Health Insurance for Myself and My Family as the Founder? – Yes, but it entirely depends on the PEO company you’re in business with.
As the Founder, Should I Pay Myself Using a PEO? – Yes, with a few exceptions.
Is There Anything Special to Consider When Looking at Illinois PEOs? – It would be best if you worked with a PEO in Illinois that understands the laws and regulations when handling all your HR tasks.
What is the Best PEO in Illinois? – We don’t know the exact PEO to work with, but you can find out more by checking out our state-based PEO guide here.
Illinois businesses need HR solutions to thrive more every day through a PEO. Why don’t you reach out to talk to our PEO consultants, or fill the comparison form above to get the right PEO by your side?