Employment insurance is vital not only because it protects your business financially, but also because it protects your employees, whose skills and experience you rely on. PEOs are especially aware of the value of labor, since providing it to other organizations is their business model. As such, PEO insurance for employment liability and worker’s compensation is incredibly important to the success of the business. So is making sure it stays affordable.
Meeting Additional Needs of PEOs
When you provide staff to another organization, your liability and exposure are both different from an employer who hires in-house staff exclusively. Not only are your personnel going into a wider variety of environments with different levels of risk, PEO companies carry a much higher percentage of revenue in labor than most organizations. It’s literally your stock in trade, after all. That means you need employment insurance that scales to suit the business model without costing you an arm and a leg.
There’s no easy way to figure out how much coverage you need, because too many factors play into things when you have a mobile workforce spread across dozens or even hundreds of locations. Luckily, PEO insurance also scales the risks to account for the larger pool of employees. All you need to do to get the right coverage is find an experienced professional who knows your business because they focus on working with companies like yours.