A Brandon PEO Can Provide Significant Cost Savings and Risk Mitigation for Businesses
Utilizing a professional employer organization (PEO) located in Brandon, Florida can help businesses realize meaningful savings on employee benefits costs, workers’ compensation expenses, and employer liability insurance premiums. A Brandon PEO provides aggregated purchasing power that many small-to-medium sized companies cannot achieve independently.
What is a PEO?
A PEO, also known as a professional employer organization, establishes a co-employment relationship with client companies. In this arrangement, the PEO legally becomes the employer of record for purposes of payroll processing, benefits administration, regulatory compliance activities, and risk management functions like workers’ compensation. However, the client company retains day-to-day operational control and supervision of employees. Through this shared employment model, sometimes called employee leasing, the PEO is able to leverage economies of scale to offer more cost-effective insurance programs and centralized HR services. Both the PEO and its clients benefit from increased compliance, reduced risk exposure, and optimized processes.
Outsourcing HR Responsibilities to a PEO Can Save Valuable Time and Money
Savvy business owners recognize that outsourcing non-core administrative activities can free up internal resources. An increasing number of successful companies outsource payroll and insurance responsibilities to a PEO. This strategic partnership allows clients to access group-rated insurance plans and benefits packages at lower aggregate prices. By distributing employment-related liabilities across a large portfolio, the PEO model also lessens financial risk for individual employers. Overall, partnering with a PEO has been shown to reduce operating costs, minimize compliance issues, and streamline HR operations – enabling client companies to focus on their core business objectives.
Call Sam Bond Benefit Group Today
For more information on how a Brandon PEO can help your organization optimize costs and mitigate employment risks, please call us today at (877) 426-6320 or contact us on our website here. Our experienced team will be happy to discuss how our co-employment solutions can benefit your business.