Q. Doesn’t using a PEO mean that a company “supplies new employees for which I then pay a fee”?
A. No, unlike a “temp service” or “head-hunter organization”, a PEO company “hires” your current employees, then leases them back to you. Usually reducing human resource costs and employer
liability. Also, hiring can be a joint effort so the client company has control of who is hired.
Q. Will I lose control of my employees?
A. No, the client company maintains control of who is hired by a co-employment relationship with the PEO.
Q. If my company no longer has any “legal employees”, then is the PEO responsible for employee related reports and business expenses?
A. HANOVER would be the “co-employer” of all of your employees, therefore, the PEO company would handle all of the employee related tasks and expenses such as:
- Employee Payroll
- Workers Compensation
- Unemployment
- Business Compliance
- Employee Health, Dental, Life and Disability Benefits
Q. Will statements be made available upon request?
A. HANOVER offers a variety of statements and/or reports, customized to fit each individual PEO client’s needs.
Q. Can current clients be contacted at random for their evaluation of the PEO?
A. HANOVER will be pleased to provide a list of references.
Q. By leasing my employees to a PEO, do I lose control of them?
A. PEO companies operate one of two ways:
1) as a “co-employer”, or
2) as the “complete and legal owner” of the
employees.
Q. So, how much DOES it cost to use HANOVER’s PEO service?
A. Believe it or not, PEO services, usually do not cost any more than you are already spending on employee related expenses!
Q. How is it possible that using a PEO will save me money?
A. Most businesses can not get the discounts that larger companies realize. By “pooling” all of our clients’ employees together, we are able to obtain those volume and premium discounts on various employee expenses such as:
1) Workers Compensation
2) Employee Health, Dental, Life and Disability Benefits
3) There are also possible tax advantages.
4) Possible reduction of current staff handling HR and payroll related functions.
plus . . . because our PEO services include handling most employee related issues and paperwork, many clients are able to reduce and, in some cases, eliminate their in-house human resource department, thereby reducing operating costs, not to mention most business owners don’t have the time to handle these day to day “aggravations”.