PEO 101
(P)rofessional (E)mployer (O)rganization
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Great... but what does that mean?
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Here are the simple reasons a business would consider a PEO :
ACCESS. Get access to benefits as if you are a Fortune 500 size company. This means more options at lower costs.
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OVERWHELMED. You don’t need a full time HR and Payroll employee but its too time consuming for you to do it and annoying to figure out all the changes every year.
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COMPLIANCE. Oh yeah, those little things called laws and regulations. Now I need an attorney too, ugh!
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TECHNOLOGY. Everything in one place to see and handle payroll, benefits, onboarding new employees and more.
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SUPPORT. A team of professionals dedicated to your employees, you, and your growth at all times.
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TIME. Take back your time to focus on what’s important to you. But if you have that family function you’d like to get out of again, we can always say our systems are down for the day!
Common Questions
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Why do companies offer Medical Benefits?Lower Premiums Access to Better Programs Tax Incentives Convenient Payroll Deduction Happy Employees Employee Retention Improve Recruiting Offering medical benefits shows employees, you are invested in not only their overall well-being, but also their future. Benefits can also help you differentiate your business from competitors.
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We don’t need HR & Payroll but want to offer benefits.Lemonade benefits allows you to pick and choose what to offer Just Medical Just Ancillary Benefits (term insurance, disability, secondary ins., other) Just Payroll Just Human Resources A combination of the above Or everything together! As your company grows your needs will change, we are here to adapt with you as you go from Lemonade Stand to the cover of Forbes!
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How much does bringing in a PEO cost?One million dollars (pinky to mouth, petting a cat) You can choose from a variety of options, usually either a total percentage of payroll 3%-8% or a flat fee per employee.
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We've never heard of Lemonade Benefits, why would we work with you?"While Lemonade Benefits is an awesome name, we agree were unknown. The two founders have a combined 30+ years working in this industry, and they worked with mom & pop companies all the way up to companies listed on The Fortune 100 list. The unique reason to work with us is we are not married to one program or another. Most times wen considering PEO and or Health Insurance you’d have to interview all the variety of companies get multiple proposals and determine what best. Also be skeptical if what is being presented is in your companies’ best interest. We are appointed brokers of the vast majority of all of those Health Insurance companies and PEO’s, so we can meet with you determine the needs and then match you with the appropriate companies to achieve your goals.
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So, wouldn’t it be less expensive to go directly to each PEO or Health Insurance company?"A little-known secret in our industry is that having a broker does not add to your costs, those fees are already built into the fees you’ll pay whether or not you have a broker. But have a broker adds a layer of someone working on your behalf to hold those companies accountable, and one point person to deal with for all your needs. And if it’s already built into the cost why wouldn’t you have a broker working for you.
The Journey
Lemonade Benefits would love the opportunity to show you how to turn lemons into lemonade!
⬬ When anyone first makes the jump into being a business owner it can feel much like a Lemonade Stand.
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⬬ Grass roots effort, you have a product or service to sell, let’s find some customers and do something awesome! But now you’ll have to start wearing many hats, Sales, Marketing, Inventory, Operations, Bookkeeper, etc. It’s pretty sweet and super exciting how the progress tends to add to your energy each day!
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⬬ As you start to find some success you may need to upgrade from just the Lemonade Stand and utilizing the garage for production… This naturally means adding an employee as it’s difficult to be in both places at the same time. This comes with a new set of responsibilities, payroll, compliance, and some insurance, so now those 7 hats turned into 10 AHHHHH! You’re now making some real money and building an actual business, but your feeling squeezed, so finding the energy and passion is getting more and more difficult, Wait…What… did I create a job for myself or a business!?
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⬬ As the business continues to grow, more locations and or more employees need to be added. You can start delegating some of those hats now, Yay! But that leads to having to find great people and start competing for the best employees in your industry. This can mean improving wages, medical benefits, retirement plans, and other incentives. All of this can leave a sour taste and become a tremendous strain on either your time (if you handle all of this yourself) or your money (if you need to hire an HR administrator & Benefits Coordinator to handle it).
Whether you’re still running the Lemonade Stand, moved up to the Garage or on the cusp of your Empire...
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We’d like to meet and show you how to add us as an extension of your team, delegate many of those responsibilities and get back to doing that sweet thing you love!
Even better, possibly all for a fraction of doing it in house.
Have questions?
Want to see if you're a fit for our services?
