Popular PEO Questions

• What is a PEO?

   A PEO stands for Professional Employee Organization. Here is a short video that we hope explains it best. 

   

• Why choose BestFit?

  Choose BestFit PEO because of the knowledge, expertise, and connections of the BestFit team.

  Our founder helped establish the PEO industry. With over 35 years of experience as a leader in the PEO industry, he knows how PEOs work and how they are essential to growing small and medium-sized businesses. With Jay Mincks as our founder, we are able to establish credibility and connections that are far surpassing what a PEO salesperson or other Broker can offer.

  Our president Nate Olsen, has over 25 years of experience as a leader in the PEO industry. His goal is to make PEOs more accessible to business owners. By joining BestFit he has developed a method of partnering with PEOs that empowers business owners to choose PEOs that fit their business.

  Gabriel Cuellar, our vice-president of operations has over 25 years of comparing agreements with businesses and PEOs. His team is there to coach you through every step of the way. If you forget to ask the question, his team will ask on your behalf to find the best fit for your business.

  If you are a small to medium-sized business concentrating on growth and being competitive in the job market, it would be a loss to not go with a PEO but don't do it alone and don't go without BestFit PEO. 

   

• What is the difference between IRS and ESAC accreditations?

  IRS certification ensures a PEO is compliant with tax regulations, covering federal and state employment taxes. It also guarantees that PEOs are responsible for proper payment and filing of employee tax obligations—an important baseline for financial accountability.
  
  ESAC accreditation, on the other hand, goes much further. It monitors over 40 financial, ethical, and operational standards, ensuring that PEOs uphold the highest level of integrity. This includes quarterly independent verifications of tax payments, benefits contributions, workers’ comp, and health insurance premiums. It also ensures financial reserves are in place to protect against loss-sensitive insurance plans. 
  
  While it’s best to work with a PEO that has both IRS certification and ESAC accreditation, ESAC is the gold standard, providing the highest level of oversight, financial backing, and operational excellence. 
  
  Partnering with an ESAC-accredited PEO means you’re not just compliant—you’re working with a PEO that’s held to the highest industry standards.

• How does a PEO help streamline HR processes and save costs for my business?

  A PEO can centralize various HR functions, including payroll, benefits administration, and compliance management. By leveraging economies of scale, PEOs can often negotiate better rates for benefits and insurance, leading to cost savings for your business. This enables you to focus on your core operations while efficiently managing HR tasks.

• What factors should I consider when evaluating the quality of healthcare benefits offered by a PEO?

  Look for a PEO that provides a range of healthcare options catering to your employees' diverse needs. Evaluate the network coverage, provider options, and the flexibility to customize plans. Additionally, consider the PEO's track record in managing and controlling healthcare costs, as this will impact both your budget and employee satisfaction.

• How can a PEO contribute to employee satisfaction and retention?

  PEOs often offer comprehensive employee benefits packages, including health insurance, retirement plans, and wellness programs. These offerings can enhance overall job satisfaction and contribute to employee retention. Additionally, by handling administrative tasks efficiently, a PEO frees up your time to focus on strategic initiatives that positively impact employee engagement.

• What compliance and regulatory expertise should I expect from a reputable PEO?

  A reliable PEO should have a deep understanding of local, state, and federal employment laws. They should keep abreast of regulatory changes and ensure your business remains in compliance. This expertise is crucial in mitigating legal risks and avoiding potential penalties. Inquire about their compliance track record and how they stay informed about evolving regulations.

• Can you explain the onboarding process, and how quickly can a PEO integrate with our existing HR systems?

  The onboarding process with a PEO should be seamless to minimize disruption. A reputable PEO will have a well-defined onboarding plan, including data migration and system integration. Timeframes can vary, so it's essential to discuss the specific needs of your business and understand the PEO's capabilities in adapting to your existing HR systems. A smooth transition is crucial for maintaining operational efficiency.