Chart Patterns and Indicators Every Forex Trader Needs to Know
By Curtis Phan
/ 2023-10-30
If this is going to be your first ride in the world of Forex trading, you might have heard something...
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One of the industries that can benefit from a PEO company is the roofers near the surface of the list. Officially run professional roofing companies are at a serious disadvantage to their competitors because they use under-the-table money that is paid only to roofers. A PEO company can level the playing field and create workplace fairness when it comes to reducing workers’ compensation in a roofing company. When bidding on a project, a reputable roofing company needs to consider much more than the price of materials and hourly wages. For most roofing contractors, the cost of workers’ compensation may be the most important factor in determining the competitiveness of the bid. Here are the benefits of a PEO company in reducing workers’ compensation in roofing companies.
PEO Helps With the Workers’ Compensation Insurance
Before the introduction of PEO services, small and new roofing contractors had few options for workers’ compensation insurance because several standard insurance companies worked with roofers. Insurance companies that provided workers’ compensation insurance to roofers simply worked with large, established companies that had the best safety records. The traditional insurance company can’t simply write a policy for your roofing business. However, you can go with the state workers’ compensation program. Whether you choose to use a traditional insurance company or go with a state workers’ compensation program, your workers’ compensation premiums couldn’t be affordable.
PEO Assists to Increase the Workers’ Compensation Savings Up to 40%
Professional Employer Organizations assist the roofing company to scale down their workers’ compensation insurance. When roofers hire a PEO company, they can see significant savings that reduce the costs associated with the work they do. Unlike a conventional insurance or groundwork compensation program that requires tens of thousands of dollars to get started and even monthly premiums, a PEO company will also allow roofers to pay only a few hundred dollars to get started or $0 upfront in upfront payment terms. Hence, you’ll save a lot of money.
PEO Takes Responsibilities of Managing Payroll
PEO services can offer a roofing company more than just great savings on workers’ compensation insurance. They can take care of payroll-related tasks, saving the roofing company time by writing checks for employees, and filing payroll taxes. Roofing contractors can focus on bidding instead of dealing with the many payroll-related tasks, such as potential jobs, year-end activities like W-2s, or preparing citizenship reports. The prices and time spent on payroll may be extended in favor of your roofing business. Therefore, they can bid competitively, acquire more tasks, and see significant benefits.