According to the latest information from the National Association of Professional Employer Organizations, roughly 15 percent of all companies with between 10 and 99 employees have begun turning to PEOs (or professional employer organizations) to outsource HR and accounting needs. As an Aurora, CO PEO, Einstein HR can offer client companies numerous benefits and has decades of industry experience.
More inexpensive than hiring a full-time, in-house accounting and HR staff, a PEO can save clients money in a variety of other ways as well. Einstein HR’s dedication to client satisfaction has catapulted us onto the Inc. 5000 list, where we were named one of the Top 15 PEOs in the nation for 2017.
PEOs Help Businesses Save Big
There are several ways that hiring a professional employer organization in Aurora, CO can help you lower your costs and increase your profit margins. Of course, the first way is by costing less than a permanent in-house HR and accounting staff. The cost of a PEO can be broken down into two primary payment structures.
Flat Rate Per Employee, Per Month
One payment method available to client businesses is a flat, per-employee fee assessed every month. Though prices vary between PEOs, the average range is between $40 and $160 per employee, per month. This is an option typically chosen by companies with few employees or with employees who receive high salaries.
Payment as a Percentage of Payroll
Another payment method is to pay the PEO a certain percentage of your company’s overall payroll every month. This structure is often more useful to businesses that have many employees on lower wages, since paying a flat rate for each employee may be cost-prohibitive.
Regardless of which method works for your business, PEOs like Einstein HR statistically cost much less than the salaries of a full-time HR and accounting department — and often have higher quality services.
The Work of a PEO
PEOs like Einstein HR provide a wide variety of services to clients. As an HR outsourcing company in Aurora, Einstein HR can replace the entire HR and accounting departments of our client businesses. Though that is the best option for saving money, in rare cases some companies may not wish to outsource all of their services. Luckily, Einstein HR allows client businesses to select specific services in an a la carte fashion so that no business owner pays for services they do not want.
Business owners often would rather deal with the day-to-day operations of their company and the growth of their customer base than handle the overwhelming paperwork that comes with payroll management. Einstein HR offers full services as a small business payroll company in Aurora, CO, including online employee portals, tax liability reporting, tracking of sick days, and more.
A company’s risk profile can affect the way that customers view the organization, can impact the willingness of other companies to do business, and can lead to high costs in the long run. PEOs like Einstein HR work to reduce overall risk by formulating appropriate harassment policies, developing better recruiting strategies, enforcing more efficient safety protocols, and providing similar services.
Managing Employee Benefits
One of the most important ways to save money is by cutting back on costly employee turnover rates. How do you do that? By keeping employees happy! When a client business signs a co-employment arrangement with Einstein HR, we are able to add the client’s employees into our total employee pool. This means that we have higher negotiating power to acquire top-tier employee benefits packages and can spread the cost of those benefits across a wider employee pool, resulting in lower individual costs and better benefits.
Complying With Labor Regulations
Though business owners often know a lot about their company’s industry, the legal regulations and labor laws surrounding those industries can be complex and difficult to parse. As a PEO, Einstein HR has decades of combined experience working with labor laws in Aurora and can help companies avoid expensive violations of issues like Workers’ Compensation and the Affordable Care Act.
A PEO For Every Business
Einstein HR has experience helping businesses in multiple industries and differing sizes. Though our services are often most beneficial to smaller and newer companies with between five and 100 employees, we have served clients with as many as 500 employees. Some of the industries we’ve worked with include:
- Health Care
This is merely a small sampling of the industries that can benefit from hiring a PEO. In fact, virtually every business can be helped by outsourcing its HR needs to the experts at Einstein HR.
Hire Einstein HR Today
If you are a business owner looking to save time, energy, and money, one of your best options is to outsource your HR and accounting needs to a PEO like Einstein HR. To get in touch with us, simply call us at 770-962-1700 or fill out the form on our contact page. We will get back to you within 48 hours to start discussing how Einstein HR can meet the specific needs of your business.