I just completed a conference call with a manufacturing company with more than 400 employees. The savings from the PEO on the workers comp and benefits pay for the hr services…payroll, benefits admin, hr consulting, compliance.
I am amazed sometimes at why more companies, especially those with high mod’s (modifier rating) do not explore this opportunity for their companies.
My calculation, and this is hard dollar savings, is more than $300,000 annually. That is more than $700 per employee per year. Every year. That does not include the savings of having a separate 401k and other benefits.