What is a Professional Employer Organization (PEO)? In a PEO arrangement we use ManagedPAY’s tax ID number, unlike an HRO which uses your tax ID.
The PEO and client employer contractually allocate and share traditional employer responsibilities and share some liabilities. The PEO assumes the responsibility for the business of employment including risk management, human resources, employment law compliance, payroll and employee taxes. The PEO provides a complete human resource and employee benefit package to the work-site employee. Often this includes a full health benefits package and 401K, shoudl the client employer so choose. The client employer directs and controls all day-to-day operations and work-site employees in delivery of its products and services.
In addition to the full suite of HRO services, PEO clients receive the following Fortune 500-level benefits:
- Access to ManagedPAY’s Master Medical Insurance Plans (currently offering 7 in our portfolio)
- Access to ManagedPAY’s Multiple Employer Retirement Savings Plan (401K for your employees)
- Shared liability under an employee leasing arrangement
PEO clients experience the following:
- Outsourcing to our PEO helps businesses acquire a broader and deeper package of employee benefits often at a lower cost than can otherwise be accessed.
- PEO clients have more participation in benefit plans reducing employee turnover, enhancing employee morale and attracting better employees.
- Maintain 100% direction and control of your work-site employees.