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The Roles & Responsibilities Of A PEO

December 7, 2020, by New City Insurance

men shaking hands before talking about peoThe process of ensuring that a business operates smoothly and maintains profits can often be challenging. However, a company, regardless of its size or industry, should also keep another objective in mind: the efficient management of its payroll and human resources-related processes. Fortunately, many companies — especially small and mid-sized businesses — can accomplish this by working with a Professional Employer Organization (PEO). According to the National Association of PEOs (NAPEO), these organizations offer services to 175,000 small and mid-sized companies in the United States. According to the NAPEO, The number of worksite employees (WSEs) employed in the PEO industry grew at a compounded annual rate of 8.3% from 2008 to 2017.

How Can A PEO Help My Company?

As a third-party HR outsourcing firm, a PEO can help your business by providing human resources guidance and taking on duties such as employee benefits and retirement management. This can allow your organization to devote more time and resources to its primary operations. A PEO can also offer your company greater financial and legal protections.

The Role Of A PEO

The role of a PEO is to allow a business to focus on what matters and what they know—growing their business. By taking over many of the administrative duties in the HR department, businesses can shift their attention elsewhere. A PEO generally has four main responsibilities: managing employee benefits, improving retention, assisting with payroll duties and minimizing risks. Here is a close look at these four duties.

Manage Employee Benefits

women talking about peo with potential workerOne of PEO’s primary duties involves handling the administration of employee benefits such as health insurance and 401k and retirement plans. Given the fact that PEOs typically manage several companies, they possess a larger pool of employees and benefits options than a business would if it was seeking health insurance on its own. Consequently, PEOs can negotiate lower group insurance costs and rates for other types of insurance (e.g. workers’ compensation insurance).

Improve Employee Retention

A 2016 report conducted by the Society for Human Resource Management (SHRM) revealed that, on average, it costs employers $4,129 and 42 days to fill an open position. A PEO can help your company significantly reduce the costs of dealing with turnover. According to a September 2017 study by the NAPEO, employees of PEO clients said they were 8% more likely to remain with their current employer until retirement than employees who did not work for PEO clients. A PEO can utilize its outside perspective to analyze what employees value most in a company (i.e. needs and interests) and thereby help give them incentives to stay with their employer.

Assist In Payroll Duties

PEOs provide payroll processing services, which can potentially help end manual administrative processes that may negatively impact the productivity levels of your company’s HR executives. A PEO can also help your company withhold and pay payroll taxes and assist new employees with the process of completing employment forms and other similar documents. It’s important to remember, however, that PEOs do not typically handle tasks such as preparing employees’ hours; they merely process this information.

Mitigate Risks

conference room of people meeting and talking about hrA PEO can efficiently help your business minimize the risks tied to tasks and processes such as Equal Employment Opportunity (EEO) reporting and claim resolution, I-9 requirements, and reporting and depositing taxes with state and federal governments. Additionally, most PEOs are knowledgeable about state and federal regulations for businesses and can therefore help your company remain in compliance with these laws. If you own an organization where employee injuries are common, (e.g. a construction firm) a PEO can provide loss prevention specialists who can evaluate your safety practices and thus work to mitigate the risk of injuries.

Work With A Knowledgeable PEO Consultants

Reach out to the professionals at New City Insurance in San Diego for more information on PEOs and their benefits. Since our founding in 2008, we have been dedicated to providing clients with top-quality insurance solutions while reshaping the industry as we know it. We also have the objective of positioning our clients as industry leaders.

At New City, we understand that as companies grow, the responsibilities of their HR departments often increase. Fortunately, a PEO can help your company by making its HR and payroll-related processes more efficient while improving employee retention and maintaining your business’s competitive edge. A PEO can streamline these processes and others, such as employee benefits administration.

Additionally, a PEO can help your company remain compliant with state and federal regulations and mitigate risks associated with workers’ compensation and wrongful employment. Call New City Insurance today at (888) 210-2759 or contact us online to request a consultation with a member of our team.

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Filed Under: Benefits,  PEOs

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New City Insurance
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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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