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Q. Who is BEST and what is a PEO?
Best Employment Solutions Team (BEST) is a Professional
Employer Organization (PEO). Formerly known as an employee
leasing company, a PEO is a company that contractually
assumes and manages critical human resource, payroll,
benefits and risk management responsibilities for small
to medium-size businesses. We do that by establishing
and maintaining a co-employer relationship with our
clients and their worksite employees.
In a nutshell, a PEO takes on the burden of employment,
allowing you, the business owner, to focus on your core
business.
Q. I already engage a payroll company,
and an accountant files my taxes. Why do I need a PEO?
Payroll and tax filing account for only a small
fraction of your total responsibilities as an employer.
BEST can provide the services of a payroll company and
a tax accountant and more! Utilizing the services of
a payroll company, you are still the responsible party
in the eyes of the IRS. When contracting BEST as your
PEO, we become the employer of record and take on the
liability with the IRS. Check the services section of
our website to see the many other services we provide
in addition to payroll and taxes filing.
Q. Will I lose control of my business or my employees?
No. BEST handles the personnel administration not
the management of your business. You continue to oversee
the recruiting, hiring, managing, disciplining, and
training of your workforce, as well as overall business
operations. By shifting employment responsibilities
to us, you are able to focus on the revenue-generating
aspects of your business.
Q. Who benefits the most from your
services?
Business owners that are making a six-figure or
more income and/or place a high value on their time.
These individuals face a greater risk from employment
related lawsuits and governmental compliance issues.
Our services increase productive time and reduce these
risks.
Q. Why would my current employees want to be co-employed
by BEST?
Employees seek financial security, quality health
insurance, retirement savings and a safe working environment.
Our services can enhance and augment these qualities
making your firm a more desirable place to work. An
employee's financial security can be improved by providing
plans that increase their net take home pay at no cost
to you. BEST's economies of scale allow businesses to
lower their total employment costs and thus, increase
their financial strength. Employees are offered Fortune
500 type benefits including: health insurance, retirement
plans and aggressive workplace risk management. Overall,
our services have proven to increase employee satisfaction
and retention.
Q. How many employees are serviced by a PEO, and
what is the future of the PEO Industry?
The skills required for managing the human resource,
payroll, benefits and risk elements of a business have
outgrown the experience and training of many entrepreneurs
who own these businesses. In general, business is undergoing
a fundamental change in human resource management. The
PEO industry is evolving in response to market demands
for change, and will undoubtedly emerge as one of the
primary solutions to employment headaches.
It is estimated that over 3 million employees currently
use the services of a professional employer organization
like BEST. The industry has been growing by approximately
30% per year and is expected to service over 11 million
employees by 2007. States like California and Florida
have taken the lead with the mid-west now beginning
to take advantage of PEO services.
Q. Are you a staffing or contracting agency?
No. A staffing company supplies employees and/or
contractors on a permanent or temporary basis. We assist
you with your existing employees and allow you to recruit
and retain qualified employees without the high markups
a staffing/contracting company charges.
Q. Are you an insurance company or agent?
No. We are not in the business of selling insurance
policies. We assist you in obtaining and administering
policies for you and your employees from reputable insurance
companies. These can often be obtained at a discount
for you due to our economies of scale.
Q. What kinds of businesses utilize your services?
All types of businesses in various industries, from
sole proprietors up to organizations with 400 employees,
currently benefit from our services.
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Questions & Answers