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Florida PEO Trends in 2018

Posted by Anna Leo Holder. MBA on Jul 10, 2018 9:30:00 AM

Florida Professional Employer Organization (PEO) companies comprise about 14% of the industry, with close to 50 PEOs across the state. Florida, along with Texas, has the most PEOs in the nation. PEOs help their clients manage their businesses more effectively, avoid compliance pitfalls to create key benefits for the business. This also frees up time for business owners, allowing them to focus on things that are core to the business, such as operations and strategy.

A recent PEO study in Florida Trend Magazine shows:

  • There are approximately 1,000 PEOs nationwide.
  • The industry’s gross revenue is between $136 billion and $156 billion.
  • PEOs have grown 15% to 25% in recent years.
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Topics: PEO Services

4 Advantages of PEO Companies for Small Employers

Posted by Anna Leo Holder. MBA on Jul 3, 2018 10:00:00 AM

Professional Employer Organization (PEO) companies are advantageous for businesses of all sizes, from those that have only one employee to those that have hundreds. Small employers realize cost savings in outsourcing HR administration to a PEO because PEOs spread costs across a larger pool of employees. With a PEO’s purchasing power and bundled services, employers often find that partnering with a PEO costs less than doing it alone or hiring the staff needed to cover all the bases.

With a PEO partnership, employers gain the benefits of deep HR support to manage and mitigate risk, lower rates on workers’ compensation insurance and relief from many of the administrative burdens of benefits and payroll administration. That means less time spent on HR management, fewer HR challenges and more time to focus on growing the business. Here are four advantages of PEO companies for employers:

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Topics: PEO Services

How PEO Group Health Insurance Helps Retain Employees

Posted by David Peasall, VP, Benefits and Human Resources on Jun 26, 2018 12:00:00 PM

PEOs Allow Business Owners to Offer Comprehensive Employee Benefits at Affordable Rates

In a job market with low unemployment, labor trends show business owners making competitive and comprehensive employee benefits programs a top priority to attract and retain good employees. When employees are healthy, the business benefits. Preventive care and affordable access to health care prevents employees from taking extended periods of sick leave, allowing business to be more productive and profitable. Employees who feel supported mentally and physically also tend to stay with a company longer.

However, few companies, especially small businesses, can efficiently employ enough staff to support a strong benefits program, and even if they can, the cost is steep and should be weighed against the option of having a complete PEO Benefits Department. Working with a Professional Employer Organization (PEO) for group health insurance and other employee benefits allows business owners to offer health coverage without sacrificing as much time or money as they would spend to figure out how to administer a benefits program on their own.

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Topics: PEO Services

6 Ways a PEO Benefits Business Owners and Their Employees

Posted by Anna Leo Holder. MBA on Jun 21, 2018 11:00:00 AM

When businesses partner with a Professional Employer Organization (PEO), they gain the benefits of comprehensive HR resources to manage and mitigate risk, lower rates on workers’ compensation insurance, and relief from many of the administrative burdens of payroll and benefits administration. Employees enjoy convenient payroll options, mobile-friendly technology tools, and affordable benefits and discounts.

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Topics: PEO Services

PEO vs. HRO Services: What’s the Difference?

Posted by Christine Batten, PHR on Jun 8, 2018 8:00:00 AM

When business owners choose what services to outsource, they often opt for human resources because it saves money and time in areas that typically aren’t core to the business.

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Topics: PEO Services

Cost Saving Opportunities Your Company May be Missing

Posted by Lisa Bergfield on Dec 22, 2016 10:30:00 AM

If you work in an operations or process role, it’s your job to make the business run better, smarter and more profitably. You know the ways to improved profitability are either higher revenue, lower expenses or a combination of the two. The one element you can best control is probably that of expenses.

However, you may feel that you’ve pretty much exhausted the possibilities and cut expenses down to the bone. Well, there may be a few additional cost saving opportunities for you to consider.

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Topics: PEO Services

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