AEIS Announces More Options for Clients
The Employee Benefits World is constantly changing, and the various players are adapting and evolving to keep up with the demands of both employers and their employees. One of the ways in which things are changing is Professional Employer Organizations (PEOs) have discovered that many of their employers need more expertise and service than many of them are equipped to handle.
What is PEO?
PEO is an organization that aids small to medium sized businesses in the necessary business administration needs ranging from tax administration to compliance.
Why partner with a PEO?
PEO works with small businesses on administrative functions ranging from human resources to managing payroll-related taxes so you can focus on growing your business. The main benefits of partnering with a PEO are in payroll administration, benefits administration, and compliance support. PEO accesses benefits reserved for larger corporations with greater buying power by combining the number of employees of many small businesses.
Payroll administration is initially handled by the business owner when there are less employees. However, as your business grows PEO helps you stay up to date in managing hours, direct deposits, company accounts, payroll tax deductions, all while complying with employment laws. Staying on top of payroll can protect small businesses from costly fines and penalties.
Benefits administration is most often assigned to the HR function. PEO helps small businesses without the software large corporations use in creating, updating, and managing employee benefits programme. In order to have employee information up to date they must keep track of information such as number of dependents, date hired, total hours worked. PEO additionally helps your team access affordable medical, vision, or dental benefits by leveraging the collective numbers and buying power of all eligible employees from various small businesses.
Given the complex and dynamic environment of regulations today, it can be hard for employers to keep up with the ever changing laws and requirements. PEO assists in workers’ compensation, unemployment insurance filings, W-2 and 1099 filings, new hire reporting, and EPLI. Employee-related compliance requires filing the correct paperwork with the correct information, PEO are experts in what to file and can at times even file for you.
As a result, AEIS is happy to announce that we are now partners with PEOs like:
We are able to offer additional solutions to help you and your business thrive, while still maintaining our personal relationships and excellent, responsive customer service enabling you to have the best of both worlds.
If you would like to know how your business may benefit from partnering with a PEO, let us know or schedule a free phone consultation. We can provide you and your business with a tailored list of options and rates to explore the benefits a PEO relationship can have on your company.