As a business owner, you are likely interested in providing the best-of-the-best benefits for your employees. But how can you manage all your HR responsibilities—including payroll, benefits, and compliance—in the most efficient way?
Consider working with a Colorado PEO company to simplify operations, reduce administrative costs, and improve employee satisfaction. When you partner with us at NetPEO, we can connect you with our a la carte services to help you achieve sustainable growth.
The PEO Selection Process
We can work closely with your company to identify your HR needs. These may include payroll, benefits, risk management, and compliance requirements. Based on our findings, we can then leverage our network to identify PEO providers who offer the services you need.
We’ll focus on sourcing PEOs with experience in your industry and who know how to adhere to Colorado’s regulatory demands. From there, we will present you with several options. This will allow us to inform you of each provider’s strengths, pricing, and services.
Once you decide which PEO service provider to partner with, we can help you negotiate contracts. We can review the terms to ensure they are favorable and clear. We can also support you during the onboarding process to ensure a smooth transition to your new PEO.
Why Choose a PEO Company in Colorado?
When you see the term PEO, you might find yourself asking, “What does the PEO acronym stand for?” In short, a PEO is a professional who offers HR outsourcing solutions. When you establish an arrangement with a PEO company, you can focus on running your business.
Meanwhile, the PEO company you partner with will tackle the responsibility of various HR tasks. As both a PEO provider and broker, NetPEO can match your business with the best-fit PEO solutions according to your company’s unique needs.
Our goal is to pair you with PEO services that assist you as efficiently and as cost-effectively as possible. Here are some examples of industry-specific services we can offer business owners like you:
- Colorado PEO employee benefits service: Colorado PEOs can offer health insurance, retirement plans, and wellness programs, among other employee benefits.
- Colorado PEO hiring and onboarding services: PEOs provide the tools and resources needed to attract top talent and simplify the onboarding journey.
- Colorado PEO insurance service: This service enables businesses to provide robust employee insurance plans without the administrative burden of managing them in-house.
- Colorado workers’ compensation services: A PEO can manage claims, offer guidance regarding workplace safety, and assure you that your business is compliant with state regulations.
Implementation and Setup Time for PEO Services
One of the most common questions businesses ask is how long it will take to implement the PEO services once they select a provider. In many cases, the initial onboarding process takes two to four weeks, depending on the details of your business and the PEO provider you select.
During this phase, we can coordinate with the PEO service provider and collect information such as employee data, payroll schedules, or benefits information. After onboarding commences, the PEO will set up payroll systems, tax structures, and employee benefits plans.
This phase often takes another week or two because the PEO needs time to make sure their systems are properly integrated with your business. The entire implementation process usually takes between four and six weeks to complete.
What to Expect When Comparing PEO Costs and Pricing Models
If you’re thinking about onboarding a PEO service provider, it’s important to understand how pricing works. After all, can a new business afford the cost of a PEO?
You’ll want to make sure the costs of PEO services align with the percentage of your company’s budget that you want to allocate toward third-party help with HR tasks. We can help you find a PEO solution that aligns with your budget while still receiving the support you need.
Let’s take a look at the general pricing models of many PEO companies.
Percentage of Payroll
Some PEOs may charge a fee based on a percentage of your payroll. This can be ideal for companies that have consistent payroll costs, and it may mean your costs will scale as your business experiences growth.
Flat Fee per Employee
Other PEOs charge a monthly flat fee for each employee. This pricing model means your costs will likely be more predictable, which often makes it easier to budget your expenses every month.
Customized Packages
Many PEOs offer customized pricing packages. This way, you can select the services you need and then only pay for those. For example, if you only require payroll and compliance support, you can select a package that excludes benefits administration.
Colorado PEO Licensing and Legal Requirements
Partnering with a licensed PEO who complies with state laws is a must if you want to protect your business. In Colorado, a PEO must adhere to specific licensing expectations in order to operate legally. For starters, Colorado-based PEOs must be registered to work in the state.
They are also required to comply with tax regulations, unemployment insurance, and workers’ compensation requirements. Furthermore, a clearly defined co-employment relationship must clarify the agreed-upon division of responsibilities.
These may include but are not limited to processing payroll, filing taxes, and being compliant. When you choose to partner with NetPEO, you can trust us to vet all PEO providers in advance. We only work with those who adhere to Colorado’s legal requirements.
Experience the Benefits of a Colorado PEO Company With NetPEO
Are you ready to simplify your human resources department? Does the idea of lowering the amount of money you spend on associated costs and improving your compliance with all relevant laws appeal to you? NetPEO can help.
We’re ready and willing to connect you with PEO providers you can trust. From high-quality HR services to enhanced compliance and significant cost savings, contact us today to learn more about our company and schedule a free consultation.
