Top 10 Best PEO Companies in Illinois (2020 Reviews)
To many people Illinois is the center of the country and Chicago is in many ways just like New York or Los Angeles in the fact that it is a business hub and a great area to grow your own startup or small business. And being an agricultural center as well as a business center means that Illinois is full of opportunity.
Yet there’s a lot of work to manage when running a business, payroll and HR tasks not the least of them. There is help on this front, however, in the form of professional employer organizations (PEOs), which will handle these tasks and more for you, also providing benefits, training, and compliance support to your business.
PEO SERVICES PROVIDERS OVERVIEW – ILLINOIS
Illinois business owners are looking for a way to reap benefits from a PEO, but there are a few features they must consider first. A good PEO will be able to help every employee in your company and solve all the common issues such as workers comp, hiring, and firing of employees.
They can also manage benefits administration, tax filings, expense reports, payroll management, risk mitigation, and many other administrative services. PEOs ensure that you work in an environment in which your HR department services have less to no disruptions at all.
EVALUATION PROCESS OF THE TOP-RATED PEO COMPANIES IN ILLINOIS
Illinois PEO service providers have a few of the main factors to consider, and each of them is important to know the right PEO that suits your business the best. Here are the services we considered when reviewing each PEO in Illinois.
- Tax and payroll processing.
- HR management and consulting support
- HR regulation compliance assistance or management
- Workers compensation insurance
- Health insurance options and support
- Safety compliance and risk management
- Time, attendance, and productivity tracking tools
- Recruiting and onboarding support
- Customer service and feedback
- Additional specializations
Never rush to pick a PEO company for your business, and that’s why you should make time for comparisons using the above recommendations.
ADVANTAGES OF USING A PEO IN ILLINOIS
Less Paperwork – A PEO can save you time by keeping the paperwork to a minimum through the use of their automated services.
Saving on The Insurance Cost – You can expect a PEO to save on health insurance costs for your employees because they can bargain better with benefits providers than you could on your own.
Handling Compliance and Legal issues – A PEO can act as your backup whenever compliance and legal issues arise among your employees. They can also help you navigate through the confusing Illinois regulations.
PEO COMPANIES IN ILLINOIS– FAQs
What is a PEO? – A PEO or Professional Employer Organization is an entity or a company that you can outsource your HR tasks, such as personal and employee management. They also handle tax and payroll processing, onboarding of new employees, training, employee wellness programs, insurance, tax forms and payments, and many other administrative tasks.
What are the Advantages of Using a PEO? – You can save time by using their time-saving tools and also have HR compliance and risk-aversion tasks handled with maximum efficiency. Also, your company can attract new talents because of the provision of better benefits to your employees.
What Should I Consider When Choosing a PEO in Illinois? – You should consider your HR needs first, and select a PEO company that solves them and still abides by the state’s regulations. You’ll want to work with a service provider that has many experts in Illinois and other surrounding states in case you’re planning to expand your business further.
What is the Total Cost of Using a PEO in Illinois? – The general cost is $1000-$2000 per year per employee to use a PEO in Illinois.
How Long Does It Take a PEO to Get Started? – On average, a PEO can take four weeks to have everything running in no time.
What are the Charges for a PEO? – PEOs can choose to charge a straight admin fee (preferred choice), or a percentage of the overall payroll per employee.
Is There Any Cost to Switch to a PEO? – Yes, there is a startup cost that ranges from $1000 to $15000.
As the Founder, Can I Pay Myself Using a PEO? – There are chances you should be taking advantage of this, but it’s a rare exception.
As the Founder, Is It Possible to Get Health Insurance for Myself and My Family? – Most likely, yes. But it varies by PEO.
Which is the Top-Rated PEO in Illinois? - Businesses in Illinois can thrive more by choosing one of the many options we have for PEOs. Check out our state-based PEO guide here.
We hope that among the above PEO service providers you are able to find a company that suits the needs of your business perfectly at an affordable rate. There are other options are well, and a lot more to learn about PEOs, and if you’re interested, we suggest you do some more research, take notes, and come back here when you’re ready. Remember that only you know what will be best for your Illinois business, and that the needs of you and your employees come first.