As the business landscape continues to evolve and become increasingly complex, small businesses face challenges in managing their HR, payroll, and employee benefits efficiently. This is how PEO for small business and service companies demand increased in the globe.
In this article, we will delve into the top PEO companies that have proven to be the most reliable, cost-effective, and beneficial for small businesses. Whether you’re a startup or an established small enterprise, this guide will help you make an informed decision and find top PEO companies to streamline your HR processes, minimize risks, and enhance your overall business operations.
What is a PEO service?
PEO stands for Professional Employer Organization. A PEO service is a strategic partnership between a business and an external organization that specializes in providing comprehensive human resources (HR) solutions.
With a PEO service, the client company transfers certain employer responsibilities to the PEO, which becomes a co-employer of the client’s workforce. This arrangement allows the PEO to handle critical HR functions such as payroll administration, benefits management, compliance support, risk management, and employee training.
Services offered by best PEO companies
Best PEO companies provide comprehensive human resources (HR) solutions to businesses, typically small and medium-sized enterprises (SMEs). They specialize in managing various aspects of HR administration and employee-related functions, allowing businesses to focus on their core operations.
Here are some key services typically offered by PEO companies:
- Payroll administration: PEOs handle payroll processing, including calculating wages, deductions, and tax withholdings. They ensure accurate and timely payment of employee salaries.
- Employee benefits: PEOs often offer access to a wide range of employee benefits, such as health insurance, retirement plans, life insurance, disability coverage, and flexible spending accounts. By pooling multiple client businesses together, PEOs can negotiate better rates and benefits packages.
- HR compliance: PEOs assist with HR compliance by staying up to date with employment laws and regulations. They help businesses navigate complex legal requirements related to employee benefits, workers’ compensation, unemployment insurance, and other HR-related matters.
- Risk management: PEOs provide guidance on workplace safety, risk assessment, and workers’ compensation insurance. They may offer safety training programs and help implement safety protocols to minimize workplace accidents.
- HR administration: PEOs handle various administrative tasks, including employee onboarding and offboarding, employee record management, employment contracts, and HR policy development.
- Employee relations: PEOs may provide assistance with employee relations matters, such as conflict resolution, disciplinary actions, and performance management. They can offer guidance on best practices and help maintain a positive work environment.
Overall, Best PEO companies aim to streamline HR operations, improve efficiency, reduce administrative burden, and provide access to enhanced benefits for client businesses. By outsourcing HR functions to a PEO, companies can often save time, reduce costs, and ensure compliance with HR-related regulations.
Advantages of using PEO for small business
Outsourcing your HR needs to a Professional Employer Organization (PEO) can help streamline your business operations. Here are a few ways in which PEO service providers help companies to ease global expansions compliantly.
- Gain access to a wide range of HR services, including payroll administration, benefits management, compliance support, risk management, etc.
- Save costs through scalability as PEOs negotiate competitive rates for employee benefits like health insurance and retirement plans.
- Stay updated on employment laws, draft policies, and receive assistance with safety protocols and workers’ compensation to enhance compliance and risk management.
- Improve recruiting and talent management with support in candidate sourcing, background checks, onboarding, and performance management.
- Focus on core business activities as PEOs handle HR tasks, allowing small business owners and employees to devote more time to strategic decision-making and growth.
- Attract and retain employees by offering comprehensive benefits packages.
- Scale and adapt to changing business needs by easily adding new employees, expanding into new markets, or adjusting to regulatory changes.
- Access expert HR guidance and support, relieving small business owners of the complexities of HR administration.
- Mitigate employment-related risks through compliance assistance and employment practices liability insurance (EPLI) coverage.
- Streamline administrative processes, including payroll processing, tax filings, and employee recordkeeping.
- Receive professional assistance in handling employee issues and conflicts, fostering a positive work environment, and reducing potential legal liabilities.
Top 10 Best PEO Companies
Let us introduce you to these industry-leading PEO service providers who can revolutionize your HR operations and help your business thrive.
1. ADP TotalSource
ADP TotalSource is a comprehensive Professional Employer Organization (PEO) service offered by ADP, a leading human capital management solutions provider. It is founded in the year 1949 and serving across 160 countries now. ADP TotalSource serves as a strategic partner for businesses by managing critical HR functions and providing access to a wide range of HR services. From payroll administration and benefits management to compliance support and risk management, ADP TotalSource helps businesses streamline their HR operations and navigate complex employment regulations.
Core services and features
- HR administration
- Talent management
- Employee benefits
- Regulatory compliance
- Comprehensive HR, talent, and compliance
- Fortune 500® caliber benefits
- HR specialists who are dedicated to your business
- Customized HR strategies and programs
- Powerful technology and data-driven insights
- Nationwide capabilities
ADP TotalSource pricing
Contact the ADP sales team to inquire about personalized pricing tailored to your specific business requirements, company workforce size, and unique needs.
2. Global Squirrels
Global Squirrels is a forward-thinking PEO service provider that addresses the challenges of international talent acquisition and payment management. Built upon a thorough analysis of traditional PEO services, Global Squirrels has redefined the entire employment lifecycle, offering comprehensive solutions from talent sourcing to end-of-employment processes. Their extensive range of HR services caters to businesses of all sizes, encompassing talent resourcing, hiring, payroll processing, employee benefits administration, HR management, risk management, and more. Renowned for their compliance expertise, Global Squirrels excels in assisting businesses in navigating complex regulatory environments with ease and confidence.
Core services and features
- Talent management
- Contractor and full-time employee management
- Industry-specific support
- User-friendly technology and mobile-first approach to HR services
- Personalized risk assessment and management
- Onsite HR managers
- Compliance management
- Employee lifecycle administration
- Sourcing, interviewing, paying, and compliant employment terminations
Pricing Global Squirrels
Get in touch with the Global Squirrels team to discuss customized pricing options that are specifically tailored to align with your unique business requirements, company’s workforce size, and individual needs.
3. Paychex
Paychex is funded in 1971 which is a flexible HR and payroll solution tailored to meet the unique needs of businesses of all sizes. With decades of experience in the industry, Paychex offers a wide range of PEO services designed to streamline HR processes, simplify payroll administration, and ensure compliance with ever-changing regulations. From payroll processing and tax services to time and attendance tracking, employee benefits administration, and HR management, Paychex provides a comprehensive suite of solutions to help businesses focus on what they do best – growing their business.
Core services and features
- Hire, pay, manage, and retain employees with confidence
- Compliance expertise every step of the way
- Scalable solutions that grow as you do
- Payroll services
- Time & attendance
- HR services
- Employee benefits services
- Business insurance solutions
- Payment processing solutions
Paychex pricing
- Essentials- $39/mo+$5 Per Person
- Select- From $44/mo+$3 Per Person
- Pro- From $89/mo+$3 Per Person
Examine the Paychex pricing plans thoroughly to gain comprehensive insights into the range of services included within each plan’s offerings.
4. Justworks
Justworks was founded in 2012 as a comprehensive platform that provides robust HR and payroll solutions for businesses of all sizes. With its user-friendly interface and extensive range of features, Justworks simplifies and streamlines essential HR tasks. From managing employee benefits and compliance to automating payroll processes, Justworks offers a suite of tools designed to alleviate administrative burdens. The platform also offers access to a wide network of top-tier benefits providers, enabling businesses to offer competitive benefits packages to their employees.
Core services and features
- Access to benefits
- Compliance support
- Automated payroll
- Onboard new employees
- Make updates to company information
- Leaves of absence, such as paid family leave
- Onboarding and terminating employees
- Managing overtime
JustWorks pricing
Basic- Payroll, Benefits, HR tools, and Compliance- $59/month per employee ($49/month for your 50th employee onwards)
Plus- Basic + Access to Medical, Dental, and Vision- $99/month per employee ($89/month for your 50th employee onwards)
Take a close look at the Justworks pricing plans to ensure you have a thorough grasp of the services encompassed within each plan’s offerings.
5. Papaya Global
Papaya Global is a leading provider of Professional Employer Organization (PEO) services which was founded in 2016. With their PEO service, businesses can seamlessly expand their operations internationally while minimizing the complexities and administrative burdens associated with managing a global workforce. Papaya Global handles various HR functions, including payroll management, compliance with local labor laws, employee benefits administration, and tax reporting. Their platform leverages advanced technology and automation to streamline processes, ensuring accuracy, efficiency, and compliance.
Core services and features
- Automated onboarding
- Payroll management
- Compliance support
- Expense management
- Strong automation tools
- Benefits administration
- Global HR functionalities
- Contractor management
Papaya Global pricing
Full-Service Payroll- Starting from $20 /mo per employee (Includes our advanced payroll platform, embedded payments, global partner network, and employee portal)
6. TriNet
TriNet is an esteemed professional employer organization (PEO) that is founded in 1988 specializing in delivering comprehensive HR solutions specifically designed for small and medium-sized businesses (SMBs). By leveraging industry-specific expertise, TriNet efficiently addresses the HR complexities faced by SMBs, providing access to a wide range of services including human capital guidance, benefits administration, risk management, compliance support, real-time payroll solutions, and cutting-edge technology.
Core services and features
- Talent retention and strategic HR
- Benefit options and 401(k) retirement plan
- Payroll services
- Expense management
- Time and attendance
- Risk mitigation and employment practices risk management
- Workers’ compensation
- Technology platform and integration center
- Compensation benchmarking
- Document management and workforce analytics
Pricing Plan TriNet
Contact the TriNet sales team to obtain a comprehensive pricing quote for their PEO services, personalized to cater to your specific business needs.
7. Insperity
Insperity is a leading provider of human resources and business performance solutions that is founded in 1986. It offers a comprehensive range of PEO services and solutions designed to support businesses of all sizes and industries. They provide PEO solutions including HR administration, employee benefits, payroll processing, risk management, and many more. Whether it’s streamlining HR processes, attracting and retaining top talent, or optimizing business performance. It stands out as a reliable resource for companies seeking to achieve their goals.
Core services and features
- HR admin and payroll
- Risk management
- HR-related compliance
- Talent management
- HR support and technology
- Employee benefits
- Single, ready-to-go HCM platform
- Streamlined processes
- Reporting and analytics
Pricing
The pricing details are not available on their website. To obtain information about the services and pricing that align with your specific business needs, we recommend reaching out to their sales team.
8. Multiplier
Multiplier is a comprehensive global HR partner that is established in 2020 to handle all aspects of employing, paying, and managing your international team. Their all-in-one Professional Employer Organization (PEO) solution is designed to offer reliable support in onboarding and overseeing employee payroll, benefits, expenses, and various other HR services, even in locations where you have your own entity.
Core services and features
- Instant employment contracts
- Multi-country payroll
- Multi-currency payments
- ESOPs, benefits, and insurance administration
- Expense and leave Management
- 24/5 support from local HR and legal experts, no third-party delays
- Employee payslips
Pricing Plan Multiplier
Run Global Payroll (Pay and take care of your international employees by ensuring timely payroll & competitive benefits)- Starting from $20/month
9. Infiniti HR
INFINITI HR specializes in efficiently handling crucial HR responsibilities and mitigating employer risks for companies of all sizes, ranging from small businesses to large corporations since 2008. Their comprehensive platform offers a range of benefits, including robust regulatory compliance management, readily available HR guidance, seamless payroll processing and tax filing in real-time, and integration with POS systems.
Core services and features
- Payroll and tax filing
- State-specific HR management
- Employer mandatory insurance
- Employer voluntary insurance
- Risk management
- ASO arrangements
- Employee benefits procurement and administration
Infiniti HR pricing
To obtain a customized pricing structure for your business, we encourage you to contact the team directly, as it is not listed on their website.
10. Rippling
Rippling is a PEO provider that offers a range of HR solutions for businesses of all sizes since it launched in the year 2016. Their services include payroll processing, employee benefits administration, HR management, and risk management. They are known for their expertise in compliance and their ability to help businesses navigate complex regulatory environments. This PEO service company is known for its modern PEO services for startups & high-growth companies.
Core services and features
- Fortune 500-Caliber medical, dental, and vision insurance
- EPLI coverage (employment liability)
- Workforce analytics
- Global workforce management
- Global payroll
- Benefits administration
- Time & attendance
- Talent management
- PE services
- ExpOense management
Pricing
Rippling offers a starting price of $8 per month, per user. They will provide you with a personalized quote according to the services you are interested in using.
Conclusion
The landscape of PEO services for small businesses in 2023 is filled with exceptional options that cater to diverse needs. The top 10 PEO service providers discussed in this article have demonstrated their commitment to delivering comprehensive HR solutions, streamlining payroll processes, managing employee benefits, ensuring regulatory compliance, or providing expert HR guidance.
By partnering with one of these top PEO services, small businesses can confidently forge ahead, knowing they have a reliable and trusted ally by their side.
