Fortune Business Consulting

Tag: PEO Brokers

  • Discover the Benefits of Appointing a PEO Broker: Bet It Will Blow Your Mind!

    Discover the Benefits of Appointing a PEO Broker: Bet It Will Blow Your Mind!

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    When it comes to hiring a PEO for your organization, entrepreneurs look for the assistance of a PEO broker for a reason. Given the fact that not every PEO fits all companies, they should match the business’ preferences and requirements. However, other things like low service costs, health insurance, and employee benefits must also be kept in mind. 

    Don’t you think it can take days to fulfill all requirements through one PEO? 

    So, companies need the help of an experienced and knowledgeable PEO broker. More benefits of having a PEO broker in your company are discussed below. Read along!

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    1. Saves You Time

    There are generally three categories from which you have to choose your preferred PEO, i.e., Regional, National, and Niche PEO. So, you need to conduct in-depth research on what type of PEO you need and whether the providers offer excellent service? 

    But by hiring a PEO broker, your effort cuts to half. This is because they are already related to a network of good PEO service providers. In addition, by letting the broker know your business requirements, they can easily identify which PEO can suit your needs. This helps you save a lot of time. 

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    2. Employee Health Benefits Management

    One of the common windows to all business problems is employee benefit terms. Unfortunately, these are usually written in technical and complex languages, which are hard to interpret by people with little knowledge. So, by hiring a professional PEO broker, you get the correct interpretation. Not only this, but they keep themselves updated on the current health benefit programs. So, they ensure you, as a business owner, are not at a loss. 

    However, a PEO broker is not only limited to solving health benefits problems. They can provide multiple services and help companies save on their overall cost. 

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    3. Eliminates Hassle Involved in Quoting Process

    Isn’t it daunting when tons of quotes are lying on your desk, and you have to go through them all to find the one? Now you can skip the process altogether!

    The PEO broker you hire will take care of the quotes offered by different service providers. Moreover, they even match the quote to identify if it needs the client’s terms and custom design it if it doesn’t. 

    They also look after the document verification process and consult to maintain a relationship throughout their partnership. So, you have the peace of mind that there is no mistake resulting from miscommunication. 

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    4. Reduced Paperwork

    None can deny that when going on board with someone, there is a lot of paperwork involved to gather essential data. It includes insurance policies, employee salaries, worker’s compensation history, health care requirements, and more. 

    On top of this, when approaching multiple PEOs to find the right one, you have to present them in their unique proposal system. Sounds way too tedious?

    In such times, a PEO broker comes in aid as you have to submit the documents only once. After that, the professionals will evaluate your company’s data and give you a quotation of only those companies that matches your profile. 

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    5. Ready With Expert Advice

    Small or medium-scale companies are all burdened with meeting legal compliance, performing administrative tasks, income-generating tasks, and others. In between, they do not usually find time to keep up with the growing management system and scalability. 

    Here, having a PEO broker works wonders. The broker can give you expert advice whenever you want. PEO brokers always have the correct answers to your compliance-related issues and complex administrative situations. 

    So, if you are one such company looking for PEOs that can handle your payroll, human resource work, or provide worker compensation service, then contact us directly. However, if you are unsure about the workings of PEO and want to know more about them to make an informed decision, then feel free to visit our blog section. 

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    Reference Links:

    https://theoutsourcepros.com/benefits-of-using-a-peo-broker/

    https://www.benefitspro.com/2018/08/27/the-benefits-of-a-broker-only-peo-model/?slreturn=20220115054253

    https://www.linkedin.com/pulse/6-reasons-why-you-need-peo-consultant-broker-now-shraga-jacobowitz

    https://goodmenproject.com/business-ethics-2/does-your-company-need-a-peo-broker-and-why/

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  • PEO Brokers & Their Role: Know Whether Your Company Needs One or Not

    PEO Brokers & Their Role: Know Whether Your Company Needs One or Not

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    If you own a company, you need to manage specific legal compliance and administration for your business. Planning your workforce and controlling their payment can often be difficult, especially when you are new to the system. In such cases, you need a PEO.

    But, which PEO will be perfect for your company?

    This is where you need a PEO broker or PEO Consultant. Wondering who a PEO broker is? Find out more about them in the sections below. 

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    What Is a PEO Broker or PEO Consultant?

    You can think of a PEO broker as someone who makes sure you get the most out of your PEO deal. But, what do we mean by this?

    A professional employer organization (PEO) is considered the best fit for the company when they have better health insurance packages. Moreover, they offer employee benefit services, HR functions, and payroll. Besides comp rates and other benefits, they also have lower administration fees. 

    PEO brokers help achieve all these and save you time and money, which you might have spent otherwise to find one. So, basically, they do all the footwork involving contacting the best PEOs, analyzing the services offered by them, and unwinding complex terms to identify whether it provides the required amount of returns. 

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    Is a PEO Broker a Person?

    They are a mix of individuals who have in-depth knowledge of the field and enough experience in customer management, payroll, law, insurance, and human resources. The professionals pool these skills to provide the client with the best outcome. 

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    What Is the Role of a PEO Broker?

    A PEO broker’s task starts from initial analysis and continues even after enrollment, i.e., in the face of ‘after support.’ In addition, they also provide you with statistics like how much money they have saved for you using their experience and skills. It also includes other parameters like the number of employees experiencing better benefits and average savings made per client. 

    Now, talking about the processes, the PEO broker runs a comprehensive analysis. For instance, they consult about your needs, strategic goal, budget, in addition to including normal functions and premium services. Using this information, they find their clients the perfect PEO partners. In the end, a consolidation is made using their quotes to compare. 

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    How to Make Sure You Find a Reputable PEO Broker?

    You can be assured that you are dealing with an experienced and reputable PEO broker when they fulfill the following checklist:

    1. If they have a large client base, you can check it by going through their case study section. 
    2. They are a specialist when it comes to PEO services and has experience in the industry.
    3. They know all ins and outs of the PEO industry. So, your broker must be an expert in the field. 
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    Why Does a Business Need a PEO Broker?

    A PEO broker benefits companies in several ways, like reducing risk liability against employee termination, saving costs, improving operations, meeting legal terms, and approaching international options. 

    In addition, they also benefit clients by helping them find suitable PEOs who can provide health insurance benefits and mitigate benefit expenses. 

    So, if you are a business lacking in human resources or administration management, then approach us for reliable payroll, employee benefits, and HR services. Moreover, check out our blog section to learn more about PEOs and their benefits.  

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    Reference Links:

    https://www.aeisadvisors.com/what-is-a-peo-broker#:~:text=A%20PEO%20brokerage%20or%20broker,their%20clients%20with%20a%20PEO.

    https://www.linkedin.com/pulse/defining-peo-broker-who-why-you-need-one-suzanna-martinez-?trk=articles_directory

    https://dinsmoresteele.com/dinsmore-steele-blog/why-use-a-peo-broker

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    Contact Us

    Find out if a PEO is the right solution for your business.
    Fill out the form below and we will contact you to schedule a chat.

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