PEO Companies New York
The Empire State holds countless opportunities for businesses to flourish, and there’s never been a better time than now to scale a company here. New York has been a headquarters for business growth for nearly two centuries. Today, more and more small business owners are looking for creative ways to do more with less.
One of the tools used by savvy business owners is a partnership with a qualified Professional Employer Organization, or PEO. PEO’s help to improve efficiency and reduce overhead cost by taking on the burden of Human Resources administration and other critical business processes.
Does Your New York Business Need a PEO?
No matter the size, structure, or age of your business, chances are good that a PEO can help you. They can do this by freeing up internal resources that can be used to drive sales, increase growth, or move your company up the ladder to the next level of success.
A strategic PEO partnership offers a wealth of benefits for small businesses in New York, including:
- Reduced operating costs
- Less time spent on Human Resources tasks
- Easier access to benefits management tools for employees
- Better utilization of time and money
So, does your New York business need a PEO? To find out, ask yourself this question: “Am I currently spending any time and effort on Human Resources-related tasks that could be managed by someone else?” If the answer to that question is yes, then it’s worth investigating what a PEO could do for you.
What to Look for in a New York PEO
Now that you’ve determined that a PEO could help your small business in New York, the next step is to decide which one is the best fit for you. This isn’t so simple a task, as PEO’s vary widely in their areas of expertise and scope of services offered. This raises the question, “What should I be looking for in a New York PEO?”
In the world of PEO’s that serve businesses in New York, what separates the best from the rest boils down to a small handful of criteria:
- The money you pay for their services. Generally speaking, it’s a bad idea to judge a PEO based solely on the fees they charge. Many PEO’s have added value that justifies their increased costs, so be sure to conduct thorough research on any PEO before writing them off as ‘too expensive’.
- The variety of the services
offered. Some New York PEO’s only offer payroll
processing as an outsourced service. Others also offer healthcare benefits
administration, 401(k) plan management, and recruiting.
- The established experience and history of the PEO. If your small business in New York wants the very best PEO, you’re probably going to shy away from one that has only been in business for a year or two. The most sought-after PEO’s have decades of established history under their belts.
Keep in mind that forming a PEO partnership should be viewed as a mid- to long-term business decision. The reason for this is because it takes a lot of time and money to change from one PEO to another, and this change can seriously disrupt day-to-day business. So, look for a PEO that’s going to be in it for the long haul.
Benefits of Using New York PEO’s
Among the many benefits of using a PEO to help streamline operations for your New York business, saving money is the most attractive. But, the benefits don’t stop there.
Hiring a PEO to help with things like payroll
processing, employee onboarding, training and development can also add value in
the following ways:
- Increased efficiency. When your New York business is able to do more with less, bigger profits naturally follow.
- Improved workflow clarity. PEO’s often help by removing administrative red tape and empowering your employees with the tools and methods they need to get things done on their own.
- Improved compliance with labor laws. The state of New York has hundreds of laws and bylaws that deal directly with how businesses can and cannot manage their employees. To help simplify things, PEO’s do the heavy lifting of legal compliance for you.
- Better business scalability. One of the biggest challenges for growing businesses is having the ability to scale alongside increased sales and market demand. PEO’s help to solve this problem by making employee management easier.
Have you thought about how much smoother things would run if you had a PEO in your corner, taking care of the time-intensive HR tasks that you’re currently doing? If not, maybe it’s time to start thinking about tapping the power of Professional Employer Organizations.
FAQ about New York PEO’s
Q: Do PEO’s have industry specializations?
A: Some do, and some don’t. Many of the larger PEO’s have broad industry expertise spanning the global economy. Others ‘niche down’ to only serve businesses in a certain vertical, like construction or transportation.
Q: How do PEO’s collect their fees?
A: When your business performs it’s biweekly or monthly payroll, the PEO usually deducts their fees at that time. However, some PEO’s charge on a quarterly basis.
Q: Is it expensive to switch between PEO’s?
A: Going from one PEO to another takes a significant
amount of time and money. In fact, the setup costs alone can be prohibitive.
Switching PEO’s can cost between $10,000 and $20,000, and in some cases, even
Q: Where can I find the highest-rated PEO’s serving businesses in New York?
A: To help filter through the dozens of PEO’s that currently operate in the state of New York, you could spend hours pouring over data. Or, you could just head over to our state-based PEO page to learn which ones are the top ranked.
Need a PEO in New York? We Can Help
How much could your New York business improve performance, increase profits, and streamline operations with the help of a Professional Employer Organization? There’s only one way to find out.
Get started on the next steps in finding the right PEO for you. If you need help qualifying the PEO’s that serve companies like yours in New York, contact us today.