The success of your company is built upon many foundations – dedication, commitment, focus and hard work all play a role, but to build a truly thriving organisation, you need to surround yourself with the right team.
You need A-players – in sales, in marketing, in logistics, in customer service, and especially in your backhouse. This includes your Professional Employer Organization (PEO).
Getting the right PEO will free up your time, effort, and energy to tackle the pressing challenges of growing your company and to take advantage of the abundant opportunities around you.
Getting the wrong PEO will saddle you with unnecessary burden and challenge at the time when you need to be as light and as streamline as possible, allowing your competitors to leapfrog you and take market share.
The Best PEO Is Not Always The Right PEO
I wish choosing the best PEO for your company was as simple as giving you the name of one provider and sending you to their website, but it’s not. The best PEO for your business depends on a number of different factors, including:
- How many employees you have
- The tasks you want assistance with (payroll, hr compliance, workers compensation insurance, etc…)
- Your budget constraints
- The benefits you want to offer your employees (such as health insurance and dental insurance)
Different PEOs offer different levels of service and different products at different prices to different sized organizations and so all of these factors must be taken into account when choosing your PEO.
There are two ways to sort through this complex web of factors and get the right PEO for your company: do it yourself or get a free consultation with one of our trained and experienced agents who will assess your company situation, needs, and vision and recommend the right PEO for your company.
If you’d like a free consultation and recommendation for the right PEO for your company, complete the form below. One of our trained agents will contact you within 24 hours to assess your situation and help you find the best PEO for your company.
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Why you should trust us
The reason you should trust me when it comes to PEOs is that I know this space, more than just about any other person on this planet.
My journey into the world of PEOs started with trying to solve my own challenges and limitations in my first two companies. I had employees in different states with different tax rates and insurances and compliance issues and I was spending more and more of my time dealing with payroll processing and risk management dental benefits and less time growing my businesses.
I searched for solutions and after learning about PEOs, dived headfirst into them. I uncovered every PEO that existed. I read every review ever written. I researched offerings and customer service and system design and spent more hours on sales calls than I could afford to do.
I signed the PEO that was right for my business and then after talking to other companies in my industry and hearing their misadventures getting the wrong PEO, I reached out to lend a hand. I did it for one, then another, and by time I managed to blink, I was 8 companies in and fielding more phone calls than I know how to handle.
Today, I don’t have the exact numbers, but I’m confident I’ve helped more than 1,200 companies find the most suitable PEO for their situation and circumstance and I’m confident I can help you.
Who Should Use A PEO?
PEOs are a fantastic resource for most businesses, but they’re not right for every small business.
They’re great at taking HR-related tasks off the hands of companies that are too small to employ someone in-house to complete these tasks. This means that a PEO is beneficial for a business that currently has employees but typically has less than 300 staff on their books, and is looking assistance with:
- Employee Benefits
- Tax Rates
- 401 k
- Health Insurance
- Dental Insurance
- Administrative Services
- Workers Compensation Insurance
- Risk Management
- Human Resources Paperwork
- Employee Benefits Administration
- HR Support
- Tax Withholding
- Employee Contracts
- Compliance Assistance
- Risk Management
If you’re struggling with any of the above tasks, then a PEO will help remove this weight from your shoulders.
Benefits of using a PEO
There are many benefits to using a PEO, and the exact benefits you’ll experience will be specific to your business, but most benefits can be reduced down to four key factors.
Benefit 1: Reduced insurance costs
One of the biggest challenges in getting insurance for your team is that you’re just too small for the insurance companies to care about and so they won’t cut you a deal. Costs will be high. Care will be low. And you and your employees will suffer.
This isn’t the case when you partner with a PEO.
When you sign up, they officially become a co-employer of record for your employees. This means that when they approach the insurance companies to get insurance for your team, they’re not just approaching them on behalf of the employees who work directly for them, they’re approaching them on behalf of EVERY employee under their entire umbrella.
This MASSIVE bargaining power means they’re able to obtain incredibly competitive insurance prices that you simply wouldn’t have access to without them.
Benefit 2: Less paperwork
When it’s just you trying to process the paperwork for your employees, while it’s a pain, it’s not enough of a pain to invest tens of thousands of dollars into automating the HR-related paperwork.
But, if processing HR paperwork was your entire business and you had tens of thousands of employees under your umbrella, then it becomes worthwhile – which is EXACTLY what a PEO will do.
They have the software and systems necessary to automate significant portions of the HR paperwork that lands on your desk every month.
Benefit 3: Simplified compliance
Just like HR paperwork, compliance issues, while painful for most small businesses, aren’t significant enough warrant spending tens of thousands of dollars on automated solutions.
And just like HR paperwork, PEOs have a significant enough workload for it to make financial sense to automate and systematise these problems away.
Benefit 4: More free time
At the end of the day, these three benefits all come back to one very important thing: time. They give you the time you need to do what is most important to you.
That might be growing your business. That might be picking your kids up from school. It might be connecting with your grandparents in the last few years they have left. Whatever it is for you, a PEO will give you that precious time to make your life as rich and rewarding as possible.
How We Selected The Best PEO Illinois
Our process for selecting the best PEO for your Illinois business is a four stage process.
Stage 1: Reviews
The first stage is to comb through the PEO reviews available online. We read the good and (especially) the bad, looking for common trends and consistent issues raised by the people who’ve used these services.
This allows us to exclude any company that doesn’t appear to provide at least a halfway decent service.
Stage 2: Offering Analysis
The second stage is to check the products and services that the PEOs offer. Partnering with a PEO costs time and money and getting one that only provides payroll processing and risk management when you need health insurance, 401 k, and compliance assistance would be pointless.
We comb through their websites and create a complete database of every product and service offered by every PEO to make sure you get one that fits your needs.
Stage 3: Speaking With Real Customers
Combing through online reviews is a great place to start any investigation, but it’s limited. Most people will only leave a review if they have an overwhelmingly positive or overwhelmingly negative experience and so only looking at online reviews will give you a distorted picture of a company.
To make sure that we have a complete picture of what it’s like to partner with a PEO, our next step is to speak to real customers using their services today and ask them about their experiences. We reach out to companies that we’ve recommended to the various PEOs as well as connecting with visitors to our website.
This helps us get a full and complete understanding of what it’s like to partner with each PEO so that we know you’re getting the right one for your business.
Stage 4: Speak With Their Sales Team
Reading reviews and websites and speaking to customers will give you a very full picture of what it’s like to partner with a PEO today, but what it won’t tell you is what that company will look like moving forward. It won’t answer questions like:
- How well do they take criticism?
- How actively are they working to resolve the limitations of their system?
- What are their plans for the future?
The only real way to understand and answer these questions is to speak to people at the company and drill them on them.
This is why the fourth stage of our analysis process is to speak with their sales team and grill them on everything we’ve learnt through the online reviews and speaking with customers. We push them on all the negatives to see how they respond and ask what’s in the pipeline to see what’s coming.
This gives us a much deeper understanding of the company and company culture and helps us make sure that any PEO we recommend is moving in the right direction.
There are 5 factors we use to decide which PEO is the right one for your company.
Factor 1: Offerings
The first factor we consider is their products and services. Does this PEO provide what you need to make your life easier? Are they able to take the complete list of challenges and frustrations off your shoulders so you’re free to continue to build and grow your business?
After all, there’s no point in signing you up with one that only provides payroll processing and HR compliance assistance when you really need health insurance and risk management assistance.
It would just be a waste of your time and energy and the opposite of what we’re here to achieve.
Factor 2: Price
The second factor we consider is price. Is the cost of providing the products and services you need under your budget or does it exceed your budget?
If it’s going to cost you more than you can afford to pay to get the solutions you need then all it’s going to do is put extra pressure on your shoulders – the exact opposite of what we’re trying to achieve!
This is why we use price as the second factor when assessing which PEO to recommend.
Factor 3: Ease of Signup
The third factor we use is how easy it is to signup to this PEO. Is the often 4-5 week signup process going to cause additional stress or relieve stress?
There’s no way around it – signing up with a PEO takes time, effort, and energy. They essentially have to employ all your employees and there’s a lot of paperwork and forms involved in that process.
But, that doesn’t mean that every PEO uses the same system. Some of the cheaper options just throw you to the wolves without much support and hope you’re able to fight your way through. Others, who admittedly charge more, provide kind and caring support through the process, ensuring you’re able to move through it with ease.
The right PEO for you will be the best balance between total cost and your ability to manage complex systems and we’ll ensure you end up with the right one.
Factor 4: Ease of Use
Just like the signup process, the internal systems of each PEO varies based on cost.
The cheaper options provide less support and require a higher technical knowhow to wade through every time you log in, while the more expensive options will hold your hand through the process.
This is why the ease of use of the PEO is the fourth factor, where we assess your technical skills to ensure you’re partnering with a PEO you can use.
Factor 5: Customer Service
Every system, regardless of how well it’s designed, will eventually require explaining to someone at some point in time. For this reason, the final factor we assess before deciding on the right PEO for your company is their customer service.
Some people will need patient and understanding customer service at every turn while others will require someone to respond to their monthly email within 3 days to keep them on track.
We’ll assess your requirements and make sure you end up with a PEO whose customer service is a match for your requirements.
Illinois PEO Assessment Results
The fact that every company has a unique set of circumstances, needs, and requirements means that it’s impossible to recommend just one PEO for every business. Your business is unique and your PEO needs to match your needs.
This is why the best way to make sure you get the best PEO for your company is to have a free business needs assessment with one of our trained and experienced agents. They’ll discuss your various requirements, needs, and challenges and ensure you end up with a PEO who’s going to take the pressure off your shoulders and allow you to thrive.
To start the process of being able to move on from your HR-related challenges, complete the form below.
Frequently Asked Questions
How much does it cost to use a PEO in Illinois?
The cost of a PEO varies based on many different factors, including the number of employees, the service you’re using, how long you’ve been with them, and the PEO you choose, but the average cost of a PEO is usually between $1,000 – $2,000 per month.
How does a PEO in Illinois charge?
There are two different charging structures used by PEOs in Illinois.
The first charging structure is a flat fee per employee. This means that you just pay one fixed figure for every employee in your company. This is great for small businesses who desire certainty around their costs and want to know what they’re going to pay every month.
The second charging structure is a percentage of payroll. This means you pay a percent of the wages you pay your employees every month. This is great for companies that have a large number of lower-paid employees and want to keep costs down.
How long does it take to get set up with a PEO in Illinois?
Getting setup takes time. There’s paperwork to complete on both your side and the side of the PEO. There are government agencies that need to tick boxes and complete forms. And there’s people who need to process all that paperwork.
This process usually takes between 3-6 weeks, but if you allowed four weeks, you’d be in the right ballpark.
Does it cost to change PEOs?
There’s no official ‘changing PEO charge’ levied by the various companies, but it does cost money. This is because each PEO has a setup and you’ll need to pay that setup fee with whichever PEO you change to.
This is why we recommend that instead of just choosing a PEO at random and then needing to change down the track, simply speak with one of our trained agents who can recommend the right PEO for you and your company.
Complete the form below and one of our agents will reach out for a free business needs assessment within 24 hours.