Top 10 Best PEO Companies in New York (for 2020)
If you want to build a business in New York, whether in the city or in New York State, you better be ready to hustle and you better be consistently striving to improve yourself and your business because otherwise you’ll be left behind. Yet if you do make, you’ll experience success and a feeling of satisfaction you’re not as likely to get elsewhere.
Yet making it to the top requires a lot of time, and you need every minute. And after a certain point, managing payroll and HR tasks (among other compliance issues and paperwork) can be too much for one person to handle. It’s at this point, or ideally before it comes to that, when you’ll want to look into a professional employer organization (PEO), which will handle payroll and HR tasks for you, among many other great things.
Yet which service provider should you choose? If you’re confused, we’re here to help with our top PEO picks for New York businesses:
PEO SERVICES PROVIDERS OVERVIEW – NEW YORK
You can have your New York business thriving well by using a PEO service provider, which comes with many advantages, but there are key features to look at. A good PEO will provide HR solutions and still handle day-to-day HR responsibilities without disrupting operations.
Good PEOs also ensure to meet all your business goals and help with administrative services such as recruitment, training, and expense reporting. PEOs are best known for utilizing their bargaining power to give your employees lower health insurance costs and workers comp coverage.
EVALUATION PROCESS OF THE TOP-RATED PEO COMPANIES IN NEW YORK
Before selecting a PEO, there are many facets to put into consideration, and each of them is important. Here are the services we considered when reviewing each PEO in New York.
- 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
With many PEOs already present in New York, you need to keep the list above if you decide to look on your own.
ADVANTAGES OF USING A PEO IN NEW YORK
- Less Paperwork – Avoid the stressing paperwork by using a PEO, which keeps it to a minimum.
- Saving on The Insurance Cost – PEOs comes with better negotiation skills that make it possible for your business to enjoy lower health insurance costs.
- Handling Compliance and Legal issues – A PEO will manage your compliance and legal issues as well as deal with all the state regulations and laws in New York. They will also make your business smooth sail in the future when you abide by their recommendations.
PEO COMPANIES IN NEW YORK – 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? – PEOs will always aim to provide your employees with better benefits. This can be through handling risk-aversion and HR compliance practices and accessing their time-saving tools and services.
What Should I Consider When Choosing a PEO in New York? – You need first and foremost to work with a PEO company that knows how to work its way through the everchanging New York regulations, and those in surrounding states.
What is the Total Cost of Using a PEO in New York? – You can pay $1000-$2000 per year per employee to use a PEO service provider in New York.
How Long Does It Take a PEO to Get Started? – Most PEOs have a startup time of three to six weeks, but we expect an average time of four weeks maximum.
What are the Charges for a PEO? – A PEO either charges a simple admin fee (preferred choice) or a percentage of the overall payroll per employee.
Is There Any Cost to Switch to a PEO? – Yes, and it ranges from $1000 to $15000.
As the Founder, Can I Pay Myself Using a PEO? – You should first concentrate on a PEO handling your payroll needs instead of paying you, which is a rare exception.
As the Founder, Is It Possible to Get Health Insurance for Myself and My Family? – Most likely, yes. However, it’s based on the HR support you need and the PEO you’re working with.
Which is the Top-Rated PEO in New York? – You can find different PEOs offering different HR solutions in New York. Check out our state-based PEO guide here.
Finding the right PEO company in New York is vital to not only your business but your employees and yourself as well. It might take a while at the start, but we promise that it will save you more time than you can keep track of in the long run. There’s no perfect choice, only the right choice for your business, so we encourage you to take notes and do further research, as well as ask questions. We hope you find the perfect fit soon and wish you success with your New York business endeavors.