In the fast-paced business environment, entrepreneurs and small business owners face many challenges when it comes to managing their workforce. This is where Professional Employer Organization (PEO) companies come in. PEO companies provide businesses with comprehensive human resource (HR) solutions, including payroll processing, benefits administration, compliance management, employee assistance programs, and more. In this article, we will explore the top 5 PEO companies that can help businesses streamline their HR functions and achieve their goals.
There are many PEO employer services assurance corporation companies to choose from, but which one is the best for your business? Check out our list of the 5 best PEO companies of 2023, ranked according to their quality of services.
As the need for Human Resources (HR) and benefits, outsourcing continues to grow, there is an increasing number of Professional Employer Organizations (PEOs) to choose from. With so many options, it can be difficult to determine which PEO service is the best fit for your business. To help you make an informed decision, we have compiled a list of the 5 best PEO companies of 2023.
What are PEO Companies?
A PEO company is a Professional Employer Organization, which is a company that provides payroll, other human resource management, resources, and employee benefits services to small and medium-sized businesses.
PEO companies typically enter into a co-employment relationship with their clients, meaning that the PEO becomes the employer of record for tax and liability purposes. This arrangement can offer a number of benefits to businesses, including access to better employee benefits, reduced administrative burdens, and improved compliance with employment laws.
There are a number of different PEO companies operating in the United States, and choosing the right one for your business can be a challenge. To help you make the best decision for your company, we’ve put together a list of the 5 best PEO companies of 2023. So, you can compare all PEO Service providers for the best PEO services.
How PEO companies operate
PEO companies are professional employer organizations that help businesses with human resources, employee benefits, and payroll. In return, the PEO company becomes the employer of record for tax purposes and assumes some liability for the employees.
PEO companies usually work with small to medium-sized businesses that don’t have the time or resources to handle HR themselves. The PEO employee self-service and will take on the burden of employee management, leaving the business owner free to focus on other aspects of the business.
PEOs typically offer a wide range of services, including:
- Payroll processing
- Employee benefits administration
- Human resources support
- Workers’ compensation insurance
- Unemployment insurance
- Tax compliance
PEOs can be a great solution for businesses that need help with HR but don’t have the time or resources to do it themselves. However, it’s important to choose a reputable and experienced PEO that will meet your business’s needs.
Benefits of PEO companies
PEO companies are professional employer organizations that offer a variety of services to small and medium businesses. These services can include payroll, benefits, workers’ compensation, and HR support.
PEOs can be a great solution for businesses that don’t have the time or resources to manage these functions in-house. By outsourcing to a PEO, businesses can save money and free up time to focus on other aspects of their business.
There are many benefits of working with a PEO, including:
- Access to better benefits: PEOs often have relationships with insurance providers that offer better rates to their clients. This can lead to significant savings on health insurance, workers’ compensation, and other benefits.
- Reduced liability: PEOs can help businesses reduce their liability by ensuring that they are in compliance with all relevant laws and regulations.
- Improved morale: Employees who have access to better benefits and a supportive HR team are more likely to be satisfied with their job. This can lead to improved morale and increased productivity.
- Increased efficiency: PEOs can help businesses run more efficiently by taking on some of the administrative burdens that can bog down an in-house HR team.
If you’re considering working with a PEO, be sure to do your research to find a reputable and reliable provider. Once you’ve found a good match, you can expect to see many benefits for your business.
5+ Best PEO Companies of 2023
A Professional Employer Organization (PEO) can be a great way for small businesses to get access to the same HR services and benefits that bigger companies have. A PEO can also help businesses with things like payroll taxes, employee benefits, and workers’ compensation.
There are a lot of PEO companies out there, so it can be tough to know which one to choose. To help you out, we’ve put together a list of the five best PEO companies of 2023.
1. ADP TotalSource:
ADP TotalSource is a Professional Employer Organization (PEO), which provides human resources outsourcing and payroll services to small and medium-sized businesses. The company offers a comprehensive suite of services that includes payroll, benefits, workers’ compensation, and compliance with government regulations.
ADP TotalSource is a subsidiary of ADP, Inc., one of the largest providers of human resources outsourcing and payroll services in the world. ADP TotalSource was founded in 1997 and is headquartered in Roseland, New Jersey.
ADP TotalSource has a team of over 1,500 HR and payroll professionals who are dedicated to providing quality service to its clients. The company serves over 3,500 clients in all 50 states.
ADP TotalSource offers a variety of pricing plans that are designed to meet the needs of small and medium-sized businesses. The company offers a monthly subscription service that includes all of the features and services that are available with the annual plan.
Price
The monthly subscription service is available for a free 30-day trial. After the free trial, the monthly subscription service is $199 per month. The annual subscription service is available for a free 30-day trial. After the free trial, the annual subscription service is $79 per month.
ADP TotalSource also offers a la carte services for businesses that need specific services. These services are available for a free 30-day trial. After the free trial, the prices for these services range from $49 to $399 per month.
Services
ADP TotalSource offers a variety of features and services that are designed to meet the needs of small and medium-sized businesses. These features and services include:
- Payroll: The company offers a comprehensive payroll solution that includes direct deposit, tax filing, and online access to pay stubs and W-2 forms.
- Benefits: The company offers a variety of benefits, including health insurance, dental insurance, vision insurance, and life insurance.
- Workers’ Compensation: The company offers workers’ compensation insurance that covers lost wages and medical expenses.
- Compliance: The company offers compliance services that help businesses stay up-to-
2. TriNet:
TriNet is a PEO (professional employer organization) that offers a comprehensive suite of HR services to small and medium-sized businesses. TriNet’s services include payroll, benefits, workers’ compensation, compliance, and risk management. TriNet also offers a comprehensive online HR platform that provides access to all of TriNet’s services and tools.
TriNet’s pricing is based on the number of employees in your company. TriNet’s services are priced as a percentage of your payroll, and there is a minimum monthly fee. TriNet’s online and HR management platform is free for all companies, and there is no minimum monthly fee.
Price
Essential Plan:
This plan is suitable for small businesses that need basic HR services. It includes HR services manager, guidance, payroll administration, and benefits administration.
Pro Plan:
This plan is ideal for businesses that need more advanced HR services, such as performance management and employee relations support. It includes all the services offered in the Essential Plan, plus enhanced HR guidance, risk mitigation support, employee onboarding services, and compliance assistance.
Premium Plan:
This plan is designed for businesses that require a comprehensive HR solution. It includes all the services offered in the Pro Plan, plus additional features such as strategic HR consulting, talent management, and employee development programs.
Services
- Payroll processing and tax compliance
- Employee benefits administration
- Time and attendance tracking
- Employee onboarding and offboarding
- Compliance assistance and risk mitigation support
- HR guidance and support
- Performance management
- Talent management and development
- Strategic HR consulting
Overall, TriNet provides businesses with a one-stop-shop for their HR needs, allowing them to focus on growing their business while leaving the HR tasks to the experts.
3. Oasis Outsourcing:
Oasis Outsourcing is one of the leading Professional Employer Organizations (PEOs) in the United States. The company provides a comprehensive range of HR outsourcing services to small and medium-sized businesses, including payroll processing, benefits administration, workers’ compensation, extensive risk management services, and compliance with federal and state employment laws.
Oasis Outsourcing has a national footprint, with offices in major metropolitan areas across the country. The company is headquartered in West Palm Beach, Florida.
Pricing
Oasis Outsourcing offers a variety of pricing models, depending on the size and needs of your business. For small businesses with fewer than 50 employees, pricing starts at $99 per month + $4 per employee. For larger businesses with more than 50 employees, pricing starts at $149 per month + $3.50 per employee.
Services
Oasis Outsourcing provides a comprehensive range of HR outsourcing services, including:
- Payroll processing: Oasis Outsourcing offers payroll processing services for businesses of all sizes. Services include direct deposit, online, payroll administration, and tax filing.
- Benefits administration: Oasis Outsourcing provides full-service benefits administration, including health insurance, dental insurance, vision insurance, and 401(k) retirement plans.
- Workers’ compensation: Oasis Outsourcing offers workers’ compensation insurance for businesses with 2 or more employees. Coverage includes medical expenses, lost wages, and death benefits.
- Risk management: Oasis Outsourcing provides risk management services, including safety training, accident prevention, and Workers’ Compensation claims management.
Compliance with federal and state employment laws: Oasis Outsourcing helps businesses comply with federal and state employment laws, including the Americans with Disabilities Act (ADA), the Family and Medical Leave Act (FMLA), and the Occupational Safety and Health Act (OSHA).
4. Insperity:
As businesses continue to face an uncertain future, more and more are turning to professional employer organizations (PEOs) for help. PEOs offer a wide range of services that can take some of the burdens off of small and medium-sized businesses. They can help with payroll, benefits, compliance, and even their HR processes.
Insperity is one of the leading PEOs in the United States. They have been in business for over 30 years and currently service over 100,000 businesses. Insperity offers a comprehensive suite of services that can help businesses of all sizes.
Pricing
One of the things that set Insperity apart from other PEOs is its pricing model. Insperity charges a flat monthly fee for their services. This fee is based on the number of employees a business has. There are no long-term contracts and businesses can cancel at any time.
Services
Insperity also offers a la carte services for businesses that need help with specific areas. These Services are priced on a per-employee basis and can be tailored to the specific needs of a Business.
Overall, Insperity is a great option for businesses that are looking for comprehensive PEO services. Their flat monthly pricing makes it easy to budget for their services, and there a la carte services give businesses the flexibility to only pay for the services they need.
5. Paychex:
Paychex is a leading provider of payroll and human resources services in the United States. The company offers a comprehensive suite of services, including payroll processing, human resources support, and employee benefits administration.
Paychex has a long history of providing quality services to businesses of all sizes. The company was founded in 1971 and has since grown to serve over 650,000 clients across the country. Paychex is a publicly-traded company, listed on the New York Stock Exchange under the ticker symbol PAYX.
The company has a strong focus on providing excellent customer service. Paychex has a team of dedicated account managers and dedicated customer support, who work closely with clients to ensure their needs are met. In addition, the company offers a variety of online tools and resources to help clients manage their payroll and human resources processes.
Paychex offers a variety of pricing options for its services, depending on the specific needs of the client. The company also offers discounts for volume customers and clients who sign up for multiple services. Paychex has a long history of providing quality services to businesses of all sizes. The company was founded in 1971 and has since grown to serve over 650,000 clients across the country. Paychex is a publicly-traded company, listed on the New York Stock Exchange under the ticker symbol PAYX.
The company has a strong focus on providing excellent customer service. Paychex has a team of dedicated account managers who work closely with clients to ensure their needs are met. In addition, the company offers a variety of online tools and resources to help clients manage their payroll and human resources processes.
Paychex offers a variety of pricing options for its services, depending on the specific needs of the client. The company also offers discounts for volume customers and clients who sign up for multiple services.
6 Justworks:
There’s a lot to like about Justworks. The company offers a comprehensive suite of HR services, including payroll, benefits, and compliance support. And, it’s one of the most affordable PEOs on the market.
Justworks is a great option for small businesses that need full-service HR support but don’t have the budget for a large PEO. The company’s pricing is simple and straightforward, and there are no long-term contracts.
Justworks offers three service plans:
Justworks Core: This plan includes payroll, employee benefits management,, and compliance support. Prices start at $49 per month + $6 per employee.
Justworks Premium: This plan includes all of the features of Justworks Core, plus access to a dedicated account manager and additional support from the Justworks team. Prices start at $99 per month + $12 per employee.
Justworks Elite: This plan includes all of the features of Justworks Premium, plus access to a dedicated HR and payroll account manager, and additional support from the Justworks team. Prices start at $149 per month + $18 per employee.
Services
Justworks also offers a la carte services, such as workers’ compensation insurance, health insurance, and retirement plans. Prices for these services vary depending on the specific service and the number of employees.
Overall, Justworks is a great option for small businesses that need full-service HR support but don’t have the budget for a large PEO. The company’s pricing is simple and straightforward, and there are no long-term contracts.
7. G&A Partners:
When it comes to choosing a PEO (professional employer organization), there are many factors to consider. But one of the most important is the company’s pricing model. How much will you pay for the services you need?
The answer to that question can vary depending on the PEO you choose. Some PEOs charge a flat monthly fee, while others charge a per-employee, per-month fee. And some PEOs have a mix of both monthly and per-employee fees.
To help you understand the different pricing models, we’ve put together an overview of the most common pricing models used by PEOs.
Flat Monthly Fee
The flat monthly fee is the most simple and straightforward pricing model. You pay a fixed monthly fee, regardless of how many employees you have. This type of pricing is ideal for businesses with a small number of employees, as you know exactly how much you’ll be paying each month.
Per-Employee, Per-Month Fee
The per-employee, per-month fee is a bit more complex than the flat monthly fee. With this pricing model, you’ll pay a certain amount for each employee you have, every month. The amount you’ll pay will depend on the number of employees you have.
This type of pricing is ideal for businesses with a large number of employees, as you’ll only be paying for the employees you have.
Monthly + Per-Employee Fee
The monthly + per-employee fee is a mix of the two previous pricing models. With this pricing model, you’ll pay a flat monthly fee, as well as a per-employee, per-month fee.
This type of pricing is ideal for businesses that have a mix of employees, as you’ll be paying a fixed monthly fee, as well as a variable per-employee fee.
Pricing models can vary depending on the PEO you choose. Be sure to ask about the different pricing models before you sign up for a PEO. And, if you’re not sure which pricing model is right for you, be sure to ask for a price quote that includes all.
Factors to consider when choosing a PEO company
When it comes to choosing a PEO company, there are a few factors you need to consider. Below, we outline five of the most important factors to keep in mind when making your decision.
1. The size of your business
PEO companies typically work with small to medium-sized businesses. If your business is on the smaller end of the spectrum, you might want to consider a PEO that specializes in working with small and midsize businesses of your size. Conversely, if your business is on the larger end, you might want to consider a PEO that has experience working with businesses of your size and scale.
2. Your business location
PEO companies typically have a physical presence in the states where they do business. If your business is located in a state where the PEO company doesn’t have a physical presence, they might not be able to provide the same level of service.
3. The industries your business is in
PEO companies typically have experience working with businesses in certain industries. If your business is in an industry that the PEO company doesn’t have experience with, they might not be able to provide the same level of service.
4. Your business needs
PEO companies typically offer a suite of services, but not all PEO companies offer the same services. Before you choose a PEO company, make sure they offer the services you need.
5. Your budget
PEO companies typically charge a fee for their services. The fee can be a flat rate or a percentage of your payroll. Before you choose a PEO company, make sure their fee is within your budget.
Comparison of the top 5 PEO companies based on these factors
As the business world becomes more and more competitive, it’s more important than ever for companies to find ways to save time and money. One way to do this is to outsource certain functions, such as human resources (HR), to a certified professional employer organization (PEO).
A PEO can help your business save money by reducing HR costs, such as payroll and benefits administration. PEOs can also help you save time by taking care of HR tasks, such as recruiting and training employees.
There are many PEOs to choose from, so it’s important to do your research to find the best one for your business. To help you get started, we’ve compiled a list of the top five PEOs of 2023.
1. Insperity
Insperity is a leading PEO that offers a wide range of HR services, including payroll, benefits, and compliance. Insperity also has a strong focus on employee development and offers a variety of employee training and development programs.
2. TriNet
TriNet is a PEO that offers a comprehensive suite of HR services, including payroll, benefits, and compliance. a professional employer organization services TriNet also has a strong focus on employee development and offers a variety of employee training programs.
3. Justworks
Justworks is a PEO that offers a wide range of HR services, including payroll, benefits, and compliance. Justworks also has a strong focus on employee development and offers a variety of training programs.
4. ADP
ADP is a leading PEO that offers a wide range of HR services, including payroll, benefits, and compliance. ADP also does talent management, has a strong focus on employee development, and offers a variety of training programs.
5. G&A Partners
G&A Partners is a PEO that offers a wide range of HR services, including comprehensive payroll services, benefits, and compliance. G&A Partners also has a strong focus on employee development and offers a variety of various training and development programs.
III. How to Choose the Best PEO Company for Your Business
When it comes to choosing the best PEO company for your business, there are a few key factors you need to keep in mind. Here are a few tips on how to choose the best PEO company for your business:
1. Make sure the PEO company you are considering is licensed and insured.
2. Check out the PEO company’s Better Business Bureau rating.
3. Make sure the PEO company has a good reputation.
4. Make sure the PEO company you are considering offers the services you need.
5. Make sure the PEO company you are considering has a good track record.
Steps to follow when choosing a PEO company
When it comes to choosing a PEO company, there are a few key steps you should follow to ensure you make the best decision for your business. Here are the steps to follow when choosing a PEO company:
1. Define your needs – Before you start looking for a PEO company, you need to first define your business needs. What type of services do you need? What type of customer support, do you need? Once you know what you need, you can start looking for a PEO company that can provide those services.
2. Research different PEO companies – Once you know what you need, you can start researching different PEO companies. There are a variety of PEO companies out there, so it’s important to find one that best fits your needs. You can research PEO companies online, or you can ask other businesses for recommendations.
3. Get quotes from different PEO companies – Once you’ve narrowed down your options, you should get quotes from different PEO companies. This will help you compare pricing and services between different providers.
4. Make sure the PEO company is reputable – When you’re considering different PEO companies, you should make sure the company is reputable. You can research the company online, or you can ask other businesses for their opinion.
5. Choose the right PEO company for your business – After you’ve considered all of the factors listed above, you can choose the right PEO company for your business. Make sure you choose a company that you’re comfortable with, and that you feel confident in their ability to provide the services you need.
Factors to consider when making a decision
There are a lot of factors to consider when making any kind of decision, let alone a decision as important as choosing a PEO. You want to be sure that you’re making the best possible decision for your company, and that means taking into account a wide range of factors. Here are just a few of the things you should be thinking about as you make your decision:
1. The Needs of Your Business
Every business is different, and that means that every business has different needs when it comes to a PEO. You need to take a close look at your business and figure out what kind of support you need in order to be successful. Once you know what your business needs, you can start to narrow down your options and find a PEO that can provide that support.
2. The Services Offered
Not all PEOs are created equal. Each one offers a different set of services, so it’s important to take a look at what each PEO has to offer. Make sure that the PEO you’re considering can provide the services that you need. Otherwise, you’ll just be wasting your time and money.
3. The Cost
Of course, you also need to think about the cost of working with a PEO. Make sure to get a few quotes from different PEOs so that you can compare costs. Remember, the cheapest option isn’t always the best option. You need to make sure that you’re getting the services you need at a price you can afford.
4. The Contract
Before you sign on the dotted line, make sure you take a close look at the contract. You need to understand everything that’s in the contract, and you need to be sure that you’re comfortable with it. If you have any questions about the contract, make sure to get them answered before you sign.
5. Your gut
In the end, you need to go with your gut. If you have a good feeling about a particular PEO, then go with that one. Trust your instincts and you’ll be sure to make the right decision.
Conclusion
The best PEO companies have been ranked according to a variety of factors. These include the quality of their services, their reputation, and their pricing. Each of these companies has a different focus, so you’ll need to decide which one is right for your business. However, all of them provide excellent services and are worth considering.
FAQs – Best PEO Company
What is a PEO company?
A PEO company (Professional Employer Organization) is an outsourcing firm that provides comprehensive HR (Human Resources) services to small and medium-sized businesses. This includes managing payroll, benefits administration, compliance with employment laws and regulations global payroll, and other administrative tasks related to the HR department.
What are the benefits of using a PEO company?
The benefits of using a PEO company include cost savings, time savings, access to better benefits and HR technology, reduced legal risk and compliance burden, improved employee retention and satisfaction, and the ability to focus on core business operations.
How do PEO companies operate?
PEO companies typically enter into a co-employment relationship with their clients, whereby they take on some of the legal responsibilities and liabilities of the employer. The client remains the primary employer and maintains control over their business operations, while the PEO company manages certain HR administration functions.
How much do PEO companies charge for their services?
The cost of PEO services varies depending on the size of the business, the scope of services required, and other factors such as industry and location. PEOs typically charge a percentage of the client’s total payroll, plus additional fees for specific services.
How can I choose the best PEO company for my business?
To choose the best PEO company for your business, consider factors such as the scope of services offered, pricing, reputation and experience in your industry, customer service, and the quality of the specialized HR support professionals, technology, and resources provided. It may also be helpful to read reviews and compare multiple PEO providers before making a decision.
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