The US Small Business Administration estimates that employer costs for maintaining government compliance in firms than with less than 20 employees is $10,585 per employee per year. That cost is 36% higher than larger firms due to the lack of economies of scale. The SBA further estimates that the cost for maintaining Tax Compliance alone is $1,584 per employee per year, again 36% higher than larger firms.
The Department of Labor and US Chamber of Commerce also estimates that employers with less than 10 employees spend between 8 and 12% of their total gross payroll on administrative costs alone.
A primary objective of Nextep, a Professional Employer Organization (PEO), is to make the Human Resource functions of every client very efficient and cost effective through the use of cutting-edge technology, professional expertise, and economies of scale. In doing so, the organizations leaders and staff are free to focus on driving their mission and supporting their core goals. As a result organizational focus is improved, operating costs are reduced, time is saved, and you can get back to what you love; serving your constituents!
Nextep provides services for small employers such as payroll and tax administration, benefits administration, HR consulting, and regulatory compliance in a single, low-cost bundled approach.
In a study conducted by the Society for Human Resource Management, 89% of Professional Employer Organization clients reported saving significant time on mandatory HR transactions. Employers with less than 10 employees reported that a total of seven hours per week were saved by outsourcing their human resource functions!
In addition to the potential time savings there are also reduced rates available to you as a member of TANO. You may access Nextep’s full suite of PEO services at a 25% discounted rate! For more information on this, contact Mary Beth Harrington at mbharrington@tano.org
To learn more about Nextep please visit www.nextep.com