What is a PEO broker? Well, it is a term used to refer to Professional Employer Organization that is a brokerage providing thousands of business all over the nation with services like low worker’s compensation, payroll, HR services, and health insurance. The advantage of hiring such a broker is that, every company gets this responsibility off their hands and focus on more income generating activities. Some of the services offered include but are not limited to things like corporate tax liability, payroll administration, and health insurance, and worker’s compensation, to mention but a few. When a PEO broker handles all these for any business, there is a chance that the business will save up a lot on things like health insurance and worker’s compensation. Finding the one that can suit your needs perfectly can be a big dilemma, especially given the many choices that are already available in the market. Here is how to find the best PEO broker.
It is best to start by getting a free consultation. Find out if there are a few reputable choices near you that you can approach for this. Visit their websites to discover more about the work that they do and how they can help your company.
The other things that you should look at critically is the reputation that they have. By reading what others are saying about their services on feedback and reviews, you will discover more about this. Here you will learn about literally anything about the company like customer service, what to expect from the broker, the services that they offer, and so on and so forth. It is how you get further insight about it all.
You should also take in the cost of the services. Compare the cost of having an in-house team dealing with the duties involved and that of hiring this broker. After this, get a few quotes from the companies that offer these services so that you can compare them to see which one offers the best services at an affordable rate. This is the best way to get the services at an affordable rate.
You should also think about the experience that the PEO broker has. It is unwise to trust a new PEO broker to handle these needs. Find out more about the experience so that you can gauge the kind of expertise you shall get, skills, and knowledge.
What about the licensing and approval of the PEO broker? Not all brokers are licensed which means that you would be risking a lot of your private information if you hired one that doesn’t have proper approvals. So do your due diligence and ensure that you are working with one that the government can account for and vice versa.