Employee Benefits Administration for Small and Medium Businesses

Organizations providing outsourced HR services, also called PEOs (Professional Employer Organizations), offer employee benefits administration for small and medium businesses all over the nation.

What Makes Benefits Important

Benefits are one of the most important motivating factors for staff. They are also a vital tool in the job market to attract talented and experienced professionals to the organization. But since handing out an attractive benefits package is expensive, it isn’t affordable for small and medium-sized companies. As a result, the best out there go elsewhere. The ones who can make a difference would stay away from these relatively small companies. However, the flexible and adaptable services of a professional employer organization enable even these small concerns to manage their human resources, including providing a comprehensive benefits plan.

PEO-assisted Benefits Program

PEOs provide employee benefits administration for small and medium businesses. Their services cater to the latter’s specific needs and the PEO’s relationship with leading providers of insurance and other unique coverage plans enables client companies to acquire great plans for competitive and stable rates. Thereby the client organization, be it medium-sized or small, doesn’t put too much of a strain on its financial resources.

Some of the elements of a benefits program that the PEO helps even small or medium-sized client organizations offer consist of:

• Life insurance
• Employee assistance including work/life program
• Personal accident insurance
• Long term and short term disability
• Supplemental cancer, accident, hospital and other plans
• Flexible spending account plan
• Individual coverage
• Prescription drug plans
• Credit union
• Adoption assistance
• Educational assistance
• Retirement services

Employee benefits administration for small and medium businesses enables them to attract the best brains in the industry, and yet maintain their profitability through reduced costs and streamlined business processes. The experts at the PEO understand the individual requirements of their client organizations and offer the right solutions to ensure better performance and judicious use of resources.