A PEO Offers a One-Stop Solution for Benefits Admin
Looking to help your clients streamline HR, benefits, payroll, and risk management? A Professional Employer Organization (PEO) could be the solution you need.
Word & Brown can help!
Implementing a PEO solution could give clients the flexibility they need and the savings you are both seeking. We have a roster of PEO options to consider. If your client is already affiliated with a PEO, is facing a rate increase at renewal, and is looking to get out, we will help you investigate viable options for replacement coverage. Plus, we’ll help you find a new payroll vendor, compliance resource, etc., if needed. We will open the door for you to earn new commissions.
Reach out to Word &Brown’s PEO expert, Brandon Humphrey (bhumphrey@wordandbrown.com), or your Word & Brown rep, today.
What Is a PEO, How Does a PEO Work?
A PEO acts as a sort of co-employer for your clients’ employees providing them with a roster of services, including payroll, HR support, taxes and compliance, Workers’ Comp, and employee benefits and health insurance administration.
While a PEO handles much of your clients’ back-office administrative work, your client is still in charge of employees’ day-to-day work and tasks related to hiring and operations. A PEO solution is a great option for employers of any size, but the true wheelhouse for PEO benefits is groups with 30-60 employees.
PEO Advantages for Employers
Using a PEO can save your clients time – and sometimes, money. They get one invoice each month for all provided services, reduced admin (no reconciling multiple bills each month), no direct payments to insurance carriers, better rates (composite vs. age-banded for employers with 100 employees), multiple carriers without multiple carrier contracts), and administration of Ancillary benefits is included with Medical (no additional client work required).
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Other Broker Considerations
Helping clients navigate PEO options means understanding their strengths, differences, and which ones best suit their needs. While the PEO will handle benefits administration, you remain a trusted advisor, providing valuable guidance and support. Since offerings, terms, and conditions vary by PEO, you have the flexibility to find the best solution for each client.
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Suggesting a PEO Need to Employer
Many employers struggle with payroll, HR, and workers’ compensation challenges. They may be tired of managing payroll on spreadsheets, need ACA and HRIS support but aren’t ready to hire an HR director, or want relief from high Workers’ Comp renewal rates and year-end audits. These concerns indicate a strong need for a PEO solution.
