Why Contractors Should Consider Partnering With A PEO – Part 4: Cash Flow Management
Let’s face it, cash flow is critical for all construction business owners! One way that a PEO helps owners beat this burden is by allowing them to simply “pay as they go” for their workers’ compensation (“WC”) insurance. Businesses who partner with PEOs are no longer forced to hand over large down payments or go through a time consuming and sometimes expensive annual audit. There is also no more “guessing” your annual payroll to determine WC premiums or getting hit with a large audit fee for underpaying from the previous year. For larger contractors and those who must carry higher risk (more expensive) WC coverage, using a PEO can keep tens of thousands of dollars on hand to grow their business throughout the year.
About M2 PEO Solutions
M2 PEO Solutions is an independent consulting firm that helps construction and blue collar companies find PEOs (“Professional Employer Organizations”) who have expertise in the labor intensive industries. We help solve employment problems for business owners in the areas of Payroll, Workers’ Comp, HR, Safety/Risk Management, and Benefits Administration.