What is a PEO?
PEOs Explained
PEO is an acronym for Professional Employer Organization. PEOs specialize in payroll, workers' comp, risk management, payroll taxes, and HR services. A PEO provides services which allows businesses to cost effectively outsource necessary functions which require an increased degree of expertise. This arrangement helps the business to more clearly focus time and resources on their core competencies and increase their bottom line.
The Benefits of PEOs
40% Higher Revenue Growth
Lower Employee Turnover by 30%
50% Less Likely to Close
Save 35% on HR Administration
Save 52% on Tax Compliance
Co-Employment Management
When working with Cornerstone, you gain a valuable partner. We handle HR responsibilities, which is the backbone of the Professional Employer Organization (PEO) model. Your risk becomes our risk which means our interests are aligned.
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Under a contract of co-employment, both the business and the PEO have a relationship with each individual employee. The PEO becomes the employer of record for tax purposes and assumes responsibility for payroll and related payroll tax filing, and unemployment or workers' comp claims. The business retains full ownership of the company and continues to direct day to day operation, hiring/firing of staff, determining wages, and strategic business decisions. The PEO acts as an extended "back office".
