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How Can a Benefits Broker Help You Find the Right PEO for Your Business

May 24, 2021, by New City Insurance

Professional Employer Organizations (PEOs) provide businesses with comprehensive HR solutions. A PEO may recommend a wide range of services to small- and mid-sized companies, such as payroll, benefits, recruitment, hiring, compliance assistance, unemployment administration and workers’ compensation administration. Businesses that choose to outsource these tasks often find that they have more time and energy to devote to core business strategies for optimal growth.

shaking hands with a benefits broker for new businessAlthough there can be significant benefits associated with using a PEO, it can sometimes be challenging to identify which of the over 900 PEO’s in the market are the best fit for your business. . That is where a benefits broker can be of assistance. Experienced benefits brokers can help enterprises to find a PEO that is best suited for the company’s industry and size. Here is a look at how a benefits broker can help businesses find the right PEO for their business.

Determining the Needs of the Business

Before a benefits broker can recommend a PEO, the broker must first determine the business’s unique needs. Professional employer organizations offer a wide range of services to businesses that help eliminate time-consuming paperwork, allowing employees more time to focus on growth-driven tasks.

Services like payroll administration, risk mitigation, development of employee harassment policies, and compliance with state and federal labor regulations can ensure that businesses are completing necessary tasks without wasting the talent of hired employees.

Some businesses choose to hire a PEO because they do not have the time or funds to retain full-time, in-house HR staff. Signing a co-employment agreement with a reputable PEO can often be a more convenient and cost-effective option. A PEO generally charges a business based on a percentage of payroll or by a flat rate per employee per month in exchange for services.

Advantages of Using a Benefits Broker

Take in care the advantages to using a benefits brokerThere are several key advantages to using a benefits broker to find the right PEO for a business. Some employers will reach out to each PEO to hear the sales pitch directly from the sales representative. With so many PEO’s in the market, this can be an extensive and time-consuming process. An experienced benefits broker can help narrow down the search to the few most suitable PEO options while also helping negotiate rates by utilizing the competing quotes to the client’s advantage.

Benefits brokers look at each client’s unique situation and then analyze the market to help them acquire the right coverage based on their needs. These professionals can provide a wide range of benefits to a business, such as compliance information, contract review and negotiation, direct assistance to employees, advice on minimizing costs, help in resolving problems and education for employees.

While a PEO may sound like a great solution for a business, on average only 1 out of 10 companies are actually better suited in an outsourced HR relationship. Benefits brokers are usually licensed professionals with extensive knowledge on a wide range of topics that can be invaluable when choosing a PEO. Unlike direct sales reps, benefits brokers will often provide an unbiased recommendation that reflects what is in the best interest of the business rather than the broker’s firm.

Choosing the Right PEO for a Business

It is important not to hurry through selecting a PEO as this organization will be responsible for handling many important aspects of the business and implementing a PEO can be a tedious, time-consuming project for all parties involved.

Before making a decision, assess the workplace to determine its risk management and human resource needs. The PEO that is chosen should meet the business’s goals and help resolve problems that may arise with HR-related tasks. It’s beneficial to ask past clients’ references to understand its history and reputation better. Prospects can also check to see if the PEO is a member of NAPEO, the PEO’s industry’s most widely-known national trade association.

Doing a research to investigate an organization with a Benefits BrokerTake time to investigate the organization’s management and administrative expertise. Consider the number of years that the organization has in the industry and its staff’s educational background and training. Businesses interested in PEO services should also confirm that the PEO is IRS-certified and can legally pay federal employment taxes under an EIN. This helps protect customers by requiring that the PEO assume liability for any wages paid to employees at the worksite.

Speak with an Benefits Broker

Managing the operations of a small- or mid-sized business can be highly challenging. Many businesses want to invest their time and people in new projects designed to facilitate growth but cannot due to time constraints. Delegating mundane tasks like payroll, benefits and compliance can help give companies the time they need to dedicate towards growing the business and challenging their employees.
Working with a benefits broker is one of the best ways to find the right PEO for a business. For more information about how a benefits broker can help businesses find a great PEO, speak with the experts at New City Insurance today.

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Filed Under: Employee Benefits,  Employee Benefits Consulting Firm,  Insurance,  PEOs

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Google Rating
5.0
New City Insurance
New City Insurance
5.0
Carol Zhang
Carol Zhang
04:29 06 Mar 22
As a rapidly expanding national media organization, the employee benefits strategy and administration that New City has provided us during our growth has been invaluable. They have been proactive about informing us of the different benefit strategies available to us as we grow as well as managing the additional compliance laws and reporting requirements at each stage of our growth.
Claudia Villalobos
Claudia Villalobos
20:14 03 Mar 22
New City Insurance made navigating through all the health insurances super EASY. Their documents are highly informative, professional, and easy to work with. Thank you for making the process of choosing a health plan so simple. You guys are THE BEST!
Philippe Salas
Philippe Salas
17:02 22 Feb 22
I never expected to have a good time talking to an insurance salesman, but let me tell you Brendan was quite the treat. He was very helpful explaining the options and has a wonderful sense of humor. I hope to speak with him every time I call.
Jennifer Polito
Jennifer Polito
17:15 09 Feb 22
Super easy enrollment process. Fast and friendly customer service. If you are looking for an insurance company that is there for you every step of the way I highly recommend New City Insurance.
Rocky Salas
Rocky Salas
23:46 07 Jan 22
So friendly, I hope to speak to him again in all my future insurance needs.
Rocky Salas
Rocky Salas
23:38 07 Jan 22
So friendly and soft spoken. I hope to speak to him again in all my future insurance needs.
Jose Brena
Jose Brena
13:20 06 Jan 22
Eric Calciano has been extremely helpful in finding and selecting the right insurance coverage for our company. With many options out there Eric assisted us on getting a low cost provider saving more than 20% than from our competitors and providing excellent coverage for our employees.
Anastasia Beaverhousen
Anastasia Beaverhousen
17:05 28 Dec 21
Signing up for insurance was quick and easy. Felicity Sundsboe
SFCC
SFCC
22:08 29 Nov 21
Jeff Stoltey and his team provide excellent customer service. Jeff has always provided my company SFCC with straightforward options. I went to a larger insurance company only to RUN BACK to Jeff at New City Insurance. I recommend them to anyone needing insurance without hesitation.
Kevin Luby
Kevin Luby
19:13 22 Oct 21
Quick, easy & informative. We were able to secure quality insurance for our small business on a tight deadline. Thanks for the help New City.
Theresa Ruybol
Theresa Ruybol
19:30 01 Jul 21
Eric was so great with us. He was very patient and kind as we are a newer smaller organization who is growing rapidly. With that said, we had made our inquiry, he had great rapid response and mostly had to wait on me. Any request that we made and/or questions we had, he was great answering and helping us understand. Then when we were ready for all documents and to move forward, Brendan helped with getting that together and the two of them worked their magic on New City's end to notify me of what was needed, assist me in that process and confirming that all was complete and approved for the coverage. I just want to say thank you all again so much, as insurance has always been confusing to me, and you all made that process go a lot smoother.Thank you
Andrea Ordendorff
Andrea Ordendorff
21:06 07 May 21
I've been working with both Clayton and Brendan for well over a year. As the purchase of our dental practice was delayed well over 14 months they both patiently supported me and continued to make themselves available. When we were officially ready to sign up they made the whole process seamless and super easy. This team is highly knowledgeable, professional, supportive, and efficient! I can't thank them enough for everything they've done.
T W
T W
22:32 30 Aug 20
I love New City Insurance. I never had a good experience dealing with insurance brokers until I started working with Brendan. He’s awesome! He is patient with me and takes the time to answer all my questions. I’m very grateful for all his help and hard work!
Mary Jane Deyette
Mary Jane Deyette
00:57 11 May 20
Jeff Stoltey is so awesome...even thru my company had only two employees, he took the time each year to research and find the best plan for us. The only reason I am leaving New City Insurance is because we no longer have any employees. Thank you Jeff
Alma Ortiz
Alma Ortiz
22:25 23 Feb 20
Brendan was awesome! I couldn't figure out how to pick my plan and he returned my call on a weekend to help me. Outstansing service!
jessica kavanagh
jessica kavanagh
19:53 13 Feb 20
Brendan was so helpful I definitely recommend him if you’re in need of good help and getting it done promptly. Thankyou so much again.
Tricia DeYoung
Tricia DeYoung
19:49 13 Feb 20
I was very thankful I inquired about this info. with Brendan. He was very helpful so I understand the benefits available much better now. Thank you Brendan.
B Bayer
B Bayer
17:43 24 Sep 19
NCI handled almost everything from start to finish. Clayton and Brendan made the plans easy to understand and walked me through the application process. They got me my ID numbers before my cards arrived so that I could keep an appointment I had already scheduled. My last broker wouldn't have done that. 5 stars!
Jessica Lehr
Jessica Lehr
03:36 07 Jun 19
Our staff was interested in a health plan, but we didn't know how beneficial a solid employee benefits package would be for our business to expand. We'd lose prospective employees because they had more options for their medical insurance which was sometimes more valuable than more pay. The New City team was amazing and gave us as many affordable options as possible so that everyone had their needs met.
Mike McClay
Mike McClay
19:36 03 May 19
My employer uses New City as their insurance broker, and I'm always amazed when I call in for assistance by how knowledgeable and attentive their staff is with my requests. Their online benefits platform makes selecting insurance plans pretty darn easy. I would highly recommend their services.
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