A Professional Employer Organization (PEO) provides comprehensive human resource solutions through a co-employment model. In this setup, the PEO handles various administrative functions such as payroll and benefits management, while the business retains control over day-to-day operations and employee management.
Benefits of using a PEO
Partnering with a PEO can offer strategic advantages, helping you grow your business with greater confidence and reduced risks. Here’s how a PEO can assist:
Payroll and Tax Filing
- PEOs manage payroll processing and can often handle local, state, and federal employment tax payments. Many also integrate payroll with time and attendance systems to minimize errors and duplicate data entry.
Benefits Administration
- Through a co-employment agreement, businesses can access high-quality, cost-effective health insurance, dental care, retirement benefits, and more. PEOs typically handle employee enrollment and claims processing for these benefits.
Compliance
- PEOs have experts who help ensure compliance with payroll tax laws, reporting requirements, unemployment insurance, workers' compensation, and HR regulations, protecting your business from potential fines and penalties.
Risk and Safety
- PEOs often provide workers’ compensation insurance, safety audits, and training programs to help minimize claims. They may also assist with Occupational Safety and Health Administration (OSHA) inspections.
Human Resource Support
- PEOs offer HR professionals who can provide both strategic and administrative support. They can complement your existing HR team or function as your primary HR resource.
How PEOs Work
In a co-employment arrangement, the PEO shares certain employer responsibilities with your business. Typically, the PEO handles payroll, tax withholdings, benefits administration, and provides HR guidance, while you manage daily business operations and employee decisions.
What PEOs Do Not Do
While PEOs handle HR administration, they do not:
- Make independent business decisions
- Assist with marketing, sales, or product distribution
- Dictate pay rates, hours, or schedules
Types of PEOs
Although only one type of PEO exists (co-employment), some confusion remains due to the misuse of terms like employee leasing. It's important to distinguish PEOs from other HR outsourcing services, such as:
- Employee Leasing Companies
- Human Resources Outsourcing (HRO) Organizations
- Administrative Services Organizations (ASO)
- Managed Payroll Providers
Cost of PEO Services
Niural offers two comprehensive PEO plans tailored to meet the diverse needs of businesses. Here’s a detailed breakdown of each plan:
Basic Plan
Cost: $59 per month per employee
Features:
- Payroll Administration: Manage payroll and benefits with Niural
- HR Consulting: Access expert HR advice to help manage your workforce.
- HR Resources Center: Utilize a range of HR resources for effective employee management.
- Harassment Prevention & Inclusion Trainings: Ensure a safe and inclusive workplace with specialized training programs.
- Online Employee Onboarding: Streamline the onboarding process with online tools.
- PTO Management: Efficiently manage paid time off for your employees.
- Document Center and Directory: Organize and access important HR documents.
- Expense Management Tool: Simplify the management of employee expenses.
- Workers' Compensation (Required): Comply with legal requirements and ensure employee safety.
Plus Plan
Cost: $99 per month per employee (paid annually)
Features:
- Everything from the Basic Plan
- Mental Health Resources: Provide your employees with access to mental health support.
- COBRA Administration: Manage COBRA benefits for former employees.
- Health Advocacy Services: Assist employees with navigating healthcare and benefits.
- Benefits Overview: Comprehensive management of employee benefits.
- Life & Disability Insurance: Offer essential life and disability insurance coverage.
- 401(k): Provide retirement savings plans for your employees.
- Commuter Benefits: Offer benefits for commuting expenses.
- Medical Travel Benefits: Cover medical travel expenses for employees.
- Medical Insurance: Access to high-quality medical insurance plans.
- Dental & Vision Insurance: Provide dental and vision insurance coverage.
- HSA/FSA Accounts
Choosing the Right Plan
When deciding which plan is best for your business, consider the specific needs and size of your workforce. The Basic Plan offers essential HR and payroll services, while the Plus Plan provides a more comprehensive suite of benefits and support services.
Additional Information
Both plans are designed to help you streamline HR processes and focus on your core business activities. By partnering with Niural, you ensure that your HR needs are met with professionalism and efficiency.
If you have any questions or need further assistance in choosing the right plan for your business, please contact our team at sales@niural.ai.