Similarly, a PEO broker brings small and medium-sized businesses (SMBs) together with professional employer organizations (PEOs). Brokers like PEO Consultants – are PEO experts that have intimate knowledge of the PEOs they represent, as well as the specific needs of their SMB clients.
Why You Should Work with a PEO Broker
With more than 900 PEOs in the United States alone, the amount of time and effort it would take for you to narrow down the selection, interview those that made the short-list, complete forms that are many times complex and lengthy, compare their services and prices and finally on-board a PEO is overwhelming.
Because a PEO broker represents many PEOs, they are quick to narrow down the field to the ones that meet your specific requirements at a cost that’s right for you. With insight as to which PEOs would be best for your needs and which ones to avoid, you’re immediately on track to partnering with the best PEO for your business. In addition, you’ll save precious time completing paperwork. By engaging with a PEO broker, you provide information only once. The PEO broker takes it from there and will shop their short-list to find you the best services that meet your specific needs at the very best price.
What to Expect
Although all PEO brokers don’t operate the same or provide the same services, you should select a PEO broker that is with you every step of the way, from initial analysis and selection through implementation and ongoing support. In addition, the PEO broker should have experience and readily provide you with statistics, such as the amount of money their clients have saved in PEO costs, the number or percentage of employees that are receiving better benefits, and the average savings per client.
When it comes to the process, you should expect your PEO broker to conduct a complete analysis. This should include a consultation of your needs, including health insurance, payroll, workers’ compensation, other benefits, and premium services. The broker will then use this information to obtain offers from their PEO partners. Once the offers are received by the PEO broker, they should consolidate the quotes so that you can easily and accurately make comparisons.
Digging a Bit Deeper
Since your PEO broker is an unbiased third-party, they should provide PEO selection advice, technology differences between the PEOs that made the short-list, and always be available to discuss any concerns that you may have about your PEO. Remember, the PEO broker you select is your partner and trusted adviser throughout the lifetime of the engagement. And, the best news… their services are free to you!
Is a one-stop-shop, to find the best PEO, right for you? Learn everything you need to know about The Pros and Cons of Hiring a Professional Employer Organization (PEO) to determine if it’s the right choice for your business.