Among the industries that can benefit from a PEO company, roofers top the list. Professional, legally operated roofing businesses are at a serious disadvantage against competitors that employ cash-only roofers under the table. A PEO company can level the playing field.
When proposing a job, a legitimate roofing company should consider much more than the cost of materials and hourly wages. They also need to consider payroll taxes and workers compensation costs. For many roofers, the costs associated with workers’ compensation can be the biggest factor in determining the competitiveness of their offerings.
Before PEO services, small and new roofing companies had little choice in workers’ compensation insurance because few of the traditional insurance companies would work with roofers. Insurance companies that offer business insurance for roofers have only worked with large, established companies with the best safety records. If the traditional insurance company wouldn’t write a policy for your company, your only option was to go for a government workers compensation program. In either case, roofers’ workers’ insurance premiums, whether with a traditional insurance company or going through a government work compensation program, were almost completely unaffordable.
Professional Employers’ Organizations work with roofers to downsize their business insurance coverage. When roofers use a PEO company, they can see significant savings that lower the employee-related costs of the work done. A roofer can see compensation savings of 15-40% from workers when using a PEO company. Unlike a traditional insurance or government business comp program that requires thousands of dollars plus monthly premiums to get started, a PEO company will also allow roofers to pay as much as you do, with just a few hundred dollars or $0 upfront payment to get started. – comply with the conditions.
PEO services can provide much more than just massive workers compensation savings for a roofing business. They can take on the responsibilities of managing payroll saving time for a roofing business by providing employee checks and depositing payroll tax deposits. Roofers can focus on contracting jobs rather than many payroll concerns, such as potential inspections, year-end responsibilities like W-2s, or never again preparing government payroll reports.
When costs and time invested in payroll move more in favor of legitimate roofing business, they can bid competitively, win more business and see significant increases in profits.