According to the Small Business Administration (SBA), there are 1.2 million small businesses throughout Illinois. Does that mean there are 1.2 million HR departments in Illinois, too? No, because companies outsource to PEOs.
Professional employer organizations (PEOs) provide businesses with HR and administrative duties. PEOs establish benefit programs, oversee payroll, and more. Partnering with PEOs allows companies to offer premium HR services at an affordable rate.
As a trusted Chicago PEO company, NetPEO connects business owners with qualified PEOs. With 30 years of experience under our belts, we have the resources to match skilled PEOs with the companies who need them. Call (678) 376-1212 or complete our form now.
What Services Does a Chicago PEO Company Provide?
PEO companies provide human resource management and administration duties to Chicago businesses of all shapes and sizes. Typical PEO services include overseeing a firm’s payroll, employee training, workers’ compensation, and insurance policies.
Businesses who partner with NetPEO get to select which functions they outsource. We understand not all companies have the exact needs, and some industries prefer to keep specific tasks in-house. Our ala carte services allow you to pick your plan and add services as needed.
Payroll Processing
Many PEOs enhance payroll workflows for their clients. A qualified professional will perform a variety of payroll tasks, including:
- Tracking employee benefits and PTO
- Monitoring work time
- Balancing company books
- Distributing checks promptly
- Generating expense reports
- Creating online portals for employee self-service
- Handling payroll discrepancies
PEOs ensure all payroll functions and concerns are under control. An efficient and reliable payroll system leads to happier employees and a well-functioning operation.
Policy Creation and Compliance
Policies and codes of conduct provide organizational structure. They allow business leaders to cultivate a safe environment and set clear expectations for workers. Corporate policies also reduce the risk of business owners finding themselves in a lawsuit.
A PEO supports businesses by guiding them through new policy creation and implementation. Your PEO will design workplace policies that comply with state and federal guidelines. A PEO distributes company handbooks, enforces corporate policies, and ensures new hires receive proper training.
Training and Development
Navigating the hiring process can get tricky, which is why many companies consult with professionals.
PEO companies provide new hire support by recruiting and onboarding prospective talent. PEOs help new hires get acquainted with the company and provide resources for a successful career.
PEOs perform background checks, administer employee drug testing, and ensure all new hires agree to company policies. They can also get new hires set up with payroll and answer questions about benefits and 401k programs.
Employment Tax
Calculating and paying employment taxes are an extension of payroll duties that PEOs offer. PEOs are familiar with federal and state tax laws. This allows them to file taxes on behalf of a company.
Working with a PEO reduces tax liability. If something goes wrong when filing employment or payroll taxes, the business owner is held responsible. But when you have a skilled professional handling your company’s taxes, the risk of a costly error is low.
Some businesses go a step further and hire certified professional employer organizations (CPEOs). CPEOs have co-employment agreements that hold the CPEO entirely responsible for incorrect tax filings. Businesses choose this option to eliminate tax liability.
Benefits Administration
Many companies turn to PEOs to create, administer, and manage employee benefits. This includes health insurance, 401k plans, and PTO.
Offering workers comprehensive benefits gives employers a competitive advantage. It boosts employee morale and retention rates. High-grade employee benefits also help the company reel in (and retain) new talent.
How Does a PEO Company Work?
PEO companies provide businesses with skilled professionals who are already trained in HR. Many PEOs are industry experts who can implement processes that improve business operations.
How does a business get set up with a PEO? At NetPEO, we strive to make the process as easy as possible.
NetPEO’s Broker Process
To start, we host an in-depth consultation to understand your business better. We learn about your firm’s vision and the challenges it faces. Based on this discussion, our team can determine which PEOs are best suited for your enterprise.
After the consultation, we provide you with a list of qualified PEOs. Business owners can select who they work with and what services they outsource.
Before you can begin working with your PEO, businesses must sign a co-employment agreement. Co-employment allows your PEO to access employee documents to perform HR functions.
Is It Safe to Use a PEO?
As long as you are working with a reputable company (like us!), it is safe to hire PEOs. At NetPEO, we create solutions, not problems. Our PEO consulting services allow business owners to connect with qualified experts who ensure business operations run smoothly.
Working with a PEO brokerage eliminates the risk of hiring PEOs. Our staff is thoroughly vetted and verified. We only connect our clients with PEO service providers who are reliable experts in their industry.
Partnering with the right PEO matters. Our clients receive access to one of the nation’s largest pools of PEOs. This makes us confident you will find the right service providers for your enterprise. With NetPEO, you can rest easy knowing you are in capable hands.
Your Go-To Chicago PEO Company
Hiring a PEO makes your life easier. NetPEO is the Chicago PEO company business owners trust. Call (678) 376-1212 or complete our online form to set up a free consultation. We are excited to learn about your business and implement strategies that set it up for success.
