Professional employer organizations (PEOs) are valuable partners during the COVID-19 pandemic. PEOs help businesses with the financial and administrative burden of employee health benefits, payroll, and workers’ compensation.
PEOs also help businesses navigate the ever-changing landscape of employment regulations. With the Families First Coronavirus Response Act (FFCRA) and the CARES Act, businesses must comply with a host of new rules and regulations. PEOs can help businesses ensure compliance with these laws and avoid penalties.
Professional employer organizations (PEOs) offer a number of services that can be valuable to businesses during the COVID-19 pandemic. These services can help businesses with the financial and administrative burden of employee health benefits, payroll, and workers’ compensation. Additionally, PEOs can help businesses navigate the ever-changing landscape of employment regulations. With the Families First Coronavirus Response Act (FFCRA) and the CARES Act, there are a host of new rules and regulations that businesses must comply with. PEOs can help ensure compliance with these laws and avoid penalties.
We highlighted some benefits of PEO during this pandemic:
Getting a PPP loan with a PEO
Professional employer organizations (PEOs) offer businesses a number of advantages, particularly during times of crisis like the COVID-19 pandemic. One big advantage is that PEOs can help businesses secure loans through the Paycheck Protection Program (PPP).
The PPP is a federal loan program that provides forgivable loans to small businesses to help them keep their workers employed during the COVID-19 pandemic. Businesses that work with PEOs may be able to take advantage of the PPP because PEOs are considered “small businesses” under the program’s guidelines.
Staying open with a PEO
PEO clients are far more likely to be in business than other small businesses. This was not only because of the increased likelihood of supplemental funding but also because companies with PEOs had the support they needed to navigate the numerous new regulations for reopening safely.
PEOs can help businesses with a variety of services that are crucial during the COVID-19 pandemic, from securing funding to staying compliant with new regulations. If you’re a small business owner, working with a PEO may be the key to weathering the storm.
For businesses of all sizes, PEOs can be an important resource during the COVID-19 pandemic.
PEOs are an important resource for businesses of all sizes during the COVID-19 pandemic. If you are not currently working with a PEO, now is the time to consider doing so. (check out https://dinsmoresteele.com/)
Finally, PEOs can provide access to important resources during a time of crisis. Many PEOs have established relationships with vendors who can provide essential goods and services at a time when they are needed most.
