7 Best PEO Companies in Maryland, MD Compared (2020)
Maryland is one of the rapidly growing states in the USA, and you can expect all types of industries blooming and expanding once in a while. So, if you’re a business owner looking to accomplish your business goals, then a PEO is likely what you need for your HR needs.
A PEO offers services that include benefits management, payroll processing, and enhanced services like training, hiring, and employee development. That said, we have compiled this guide to help you choose the right PEO for your business in Maryland.
If you want to learn more about Maryland PEOs, keep reading below:
HIGH-LEVEL OVERVIEW OF MARYLAND PEO SERVICES:
There are many features you need to consider when selecting a PEO for your Maryland business. A worthwhile PEO will be able to manage day-to-day responsibilities and handle all typical HR needs for old and new employees.
Some of the primary services include benefits administration, tax filing, workers comp handling, payroll management, risk-mitigation practices, and regulation management. With a good PEO by your side, you can expect less of a headache in running your Maryland business.
FACTORS FOR EVALUATION OF A MARYLAND PEO SERVICE:
Most PEO vary with the types of services they offer to different businesses in Maryland. You have to take into consideration the following services and features that we used when reviewing each PEO in Maryland.
- Tax processing
- Payroll processing and payroll taxes
- Health insurance options and support
- Workers compensation insurance
- HR regulation compliance assistance or management
- HR management and consulting support
- Recruiting and onboarding support
- Safety compliance and risk management
- Time, attendance, and productivity tracking tools
- Customer service and feedback
- Additional features and specializations
You should keep the above services and features in mind when you decide to go solo hunting for the best PEO company in Maryland.
BENEFITS OF USING A PEO IN MARYLAND
Insurance Cost Savings – PEOs are generally the best alternative for your business if you want to save both money and time. They leverage a massive pool of clients to offer better benefits to your employees with lower health insurance costs.
Less Paperwork – PEOs ensure that you don’t have to deal with tiring paperwork that is time consuming and, at the same time, very tedious to complete.
Compliance and Legal – Whenever compliance and legal issues arise among your employees, PEOs are always ready to tackle them with ease and efficiency.
FAQ ABOUT PEO COMPANIES IN MARYLAND:
What is a PEO? – A PEO (Professional Employer Organization) provides a business with a platform where they can outsource their HR tasks, such as employee and personnel management. They manage businesses’ payroll, employee wellness programs, onboarding new employees, tax forms and payments, insurance, and many other benefits.
What Are the Benefits of Using a PEO? – Some of the benefits that come with using a PEO are risk-aversion practices, HR compliance management, and the use of their time-saving tools and services.
How Much Does It Cost to Use A PEO in Maryland? – It costs between $1000-$2000 per employee per year to use a PEO in Maryland.
How Does a PEO charge? – PEOs usually charge a percentage of payroll or a straight admin fee (preferred) per employee.
Does it Cost Money to Switch to a PEO? – A setup ranges from $1000 to $15000, but it also depends on the size and structure of the business.
How Long Does It Take to Get Started Once I Choose a PEO? – Startup time for most PEOs is four weeks, but there are cases when it can reach up to six weeks.
Can I Get Health Insurance for Myself and My Family as the Founder? – We have a handful of PEOs offering this option, while others don’t.
As the Founder, Should I Pay Myself Using a PEO? – It would be best if you worried more about using a PEO service to do your payroll than the payment to get. However, it might also vary depending on your business structure.
Is There Anything Special to Consider When Looking at Maryland PEOs? Maryland has excellent business opportunities and needs. You want to work with a PEO that will consider everything in times of need and potential emergencies.
What is the Best PEO in Maryland? – Most PEOs in Maryland vary from business to business, but you can check out our state-based guide here.
There you have it. Now, you know what to look for to select the best PEO company for your Maryland business. You can still go ahead and put in your business details on the comparison tool above, or you can contact us for a more in-depth discussion with one of our PEO consultants.