A PEO is a Professional Employer Organization that provides comprehensive HR solutions for small, medium and large-size businesses, helping businesses to concentrate on their own businesses by assuming many of the headaches of Workers’ Compensation, Payroll Adminstration, Benefit Administration, Human Resources, and governmental regulatory compliance. National statistics* show that small businesses that work with a PEO grow 7 to 9 percent faster, have employee turnover that is 10 to 14 percent lower, and are 50 percent less likely to go out of business. The return on investment of using a PEO, in costs savings alone, is 27.3 percent.
*Source NAPEO
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Once a business enters into an agreement and begins using Prosperity PEO services, they should immediately feel a lessening of the burden of employer related responsibilities, and realize the benefit of time back in their day to focus on growing the revenues of their business. The business and Prosperity technically co-employ the work site employees. In the arrangement among Prosperity, a worksite employee, and a client company, a co-employment relationship exists in which both Prosperity PEO and the client company have an employment relationship with the worker. Prosperity PEO and the client company share and allocate responsibilities and liabilities. Prosperity PEO assumes much of the responsibility and liability for the business of employment, such as covering enrolled employees with workers’ compensation, risk management, payroll and employee tax compliance. You retain responsibility for and manage product development and production, business operations, marketing, sales, and service. Prosperity PEO and the client share certain responsibilities for employment law compliance.
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Nearly any business, with employees, can find value in a relationship with Prosperity PEO. An average Prosperity client is a business with 10 work site employees, with some as small as 2 employees and as large as 100. Businesses small and large, all find value in an arrangement with us.
Prosperity clients include many different types of businesses ranging from construction trades to accounting firms to high-tech companies and small manufacturers. Many different types of professionals, including doctors, retailers, mechanics and engineers, also benefit from Prosperity’s services.
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Yes. Prosperity PEO is licensed and regulated by the Florida Department of Business and Professional Regulation.
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We are a business founded on the principle of providing personal service and individualized solutions to small and mid-sized Florida businesses. As business owners need to focus their time and energy on the “business of THEIR business” and not on the “business of employment”, Prosperity PEO can help make that balance a reality. As businesses grow, most owners do not have the necessary payroll and accounting skills, the knowledge of regulatory compliance, or the backgrounds in risk management, insurance and employee benefit programs to meet the demands of being an employer. Prosperity PEO help assist with, and often help provide access to, many benefits and employment amenities which some businesses would not have otherwise.
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Prosperity PEO’s economy of scale enables you to lower employment costs and increase your business’s bottom line. You can maintain a simplified in-house infrastructure, or none at all, by relying on Prosperity PEO. You also can reduce hiring overhead. The professionals at Prosperity PEO can provide critical assistance with employer compliance, which helps protect you against liability. In addition, Prosperity PEO provides time savings by handling routine and redundant tasks. This enables you to focus on the company’s core competency and grow your bottom line.
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No, not at all. You as the business owner, retain ownership of the company and control over its operations. As co-employers, Prosperity PEO and client will contractually share or allocate employer responsibilities and liabilities per our client service agreement (CSA). Prosperity PEO will assume many of the responsibilities associated with a “general” employer for purposes of administration of benefits and remittance of payroll and payroll taxes. Business owners continue to have responsibility for worksite safety and compliance. As Prosperity PEO will be responsible for remittance of payroll and employment taxes, and as Prosperity PEO also assumes responsibility for providing workers’ compensation coverage for enrolled employees, we may also provide assistance with safety and compliance. In general terms, the PEO will focus on employment-related issues, and the client will be responsible for the actual business operations.
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Employees seek financial security, access to quality health insurance, a safe working environment and opportunities for retirement savings. Full time employees of Prosperity’s client companies’, upon enrollment, are covered with term life insurance to help provide security to employee’s families. When a company works with Prosperity PEO, job security is improved, as Prosperity PEO implements efficiencies to lower employment costs. Job satisfaction and productivity increase when employees are provided with professional services, safety services and improved communications.
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Employees seek financial security, access to quality health insurance, a safe working environment and opportunities for retirement savings. Full time employees of Prosperity’s client companies’, upon enrollment, are covered with term life insurance to help provide security to employee’s families. When a company works with Prosperity PEO, job security is improved, as Prosperity PEO implements efficiencies to lower employment costs. Job satisfaction and productivity increase when employees are provided with professional services, safety services and improved communications.
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As the employer for employment tax and employee benefits, Prosperity PEO assumes responsibility and liability for payment of Florida state-unemployment taxes.
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Prosperity PEO assumes responsibility and liability for payment of wages and compliance with the rules and regulations governing the reporting and payment of federal and state taxes on wages paid to its employees. Prosperity PEO has long established our role as reporting income and handling withholding, FICA and FUTA.
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As employers, both you and Prosperity PEO have compliance obligations. Prosperity PEO provides work site employees with coverage under many employment laws and regulations, including federal, state, and local discrimination laws.
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Prosperity PEO is recognized the employer of enrolled work site employees for purposes of providing workers’ compensation coverage.
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Often times the cost of Prosperity PEO’s services is less than what it costs you to do the same things on your own. For a free quote, please contact us for a free consultation
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We deliver payrolls Monday through Friday, based on when you want it and what day you want it dated for. We process weekly, bi-weekly, semi-monthly and even some monthly payrolls.
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No. Unlike a “temp service” or “staffing company”, Prosperity PEO administers payroll, workers’ compensation, risk and HR services to your current employees.
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First step is to contact us. Then when you decide to use Prosperity PEO, we have kept it very simple. After a brief qualification process, each employee would complete a small packet, we set up your payroll and we’re ready to go. The only responsibility you have is to report your hours to our office. We process your payroll and call you with one total. We then deliver your payroll and management reports to you and collect one check for the entire thing. It’s that simple!