PEOcompare.com Reveals Top 10 Needs of Small Businesses for 2010 Survey Captures 1st quarter data for 2010 Small Business Needs Tampa, FL May 23, 2010 PEOcompare.com, an unbiased PEO comparison and matching site, announced today the results of its PEO Services Selection Tool for 1st quarter, 2010. This comprehensive filter captures small business needs then presents the PEO's that can address those needs. This technology, proven effective over the last two years, easily automates the process of choosing the ideal PEO for your business, shortening the lengthy research and selection process. The tool gives the business owner full control over his selection by allowing him to specify his own personal areas of greatest concern. Upon completion, he is immediately given a list of PEO companies ranked according to his specifications which he can easily review utilizing the various resources on the site. An analysis of the first quarter data captured shows us the top 10 needs of small businesses today: #1. Ability to process payroll online #2. Access to online payroll reports #3. Ability to enroll employees in benefits online #4. Employee records stored and accessed online #5. Ability to track PTO (paid-time off) #6. Access to a national provider healthcare plan, not single state carriers #7. Short Term Disability and Long Term Disability (STD/LTD) for employees #8. Flexible spending, pre-tax account for Daycare or Healthcare #9. Ability for employees to make personal changes on their own, online #10. Online HR resources for self service issues "Our PEO Services Selection Tool ensures that we have first-hand insight as to what the small business owner needs to be successful," states Carolyn Stoll, Marketing Director at PEOcompare.com. This list clearly shows that online capabilities, including payroll, benefits, and access of employee information are what small businesses are needing and asking for in today"s economic environment. "Interestingly, when software began as a service, the #1 concern was privacy of data. While this is still important, it is apparent that the businesses today are less concerned about security and more focused on convenience. Business owners are now seeing the benefits of having access to information from anywhere," said Carolyn Stoll. By completing and submitting the PEO Services Selection Tool or the Quick Compare Analysis, business owners are able to communicate exactly what their needs are. The good news is that today"s Professional Employer Organizations can provide this level of service, giving business owners exactly what they want. Employee Leasing Companies (PEOs) can offer a great benefit by saving you time, improving your cash flow, providing medical benefits, understanding government compliance issues, and maintaining or reducing risk. The Professional Employment Organizations are a valuable asset to the small business owner. Effectively, the PEOs offer you a rate that is less than your current rate, while they may be paying something less than that. Consequently, you immediately save money with a lower rate, and the PEOs sharing responsibility of experience won’t necessarily get socked with a huge SUTA increase during a time of downsizing. The PEO’s responsibilities vary from state to state, however the PEO’s advisors can help you understand just how they can assist, whether it’s time savings, money or both.
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