Thanks for sponsoring! I've been really happy making the switch for my own company, and I am excited to share Justworks as I see it being a great solution for so many small businesses!
@@ClaraCFO Moving to Workday and yes, they should provide guidance! I am an independent consultant and was considering a service offering to target clients moving from a PEO to Workday.
I have a question on PEOs. I work for a small company < 20people, and we use a PEO. I've just reached Medicare age and I'm still working. Normally, I need to sign up for Medicare to avoid the late sign up penalty. Normally, if the company is less than 20 people, you still have to sign up for Medicare. Does a PEO change this?? I'm having a hard time getting a straight answer.
Hi Phil, I actually don't know about this. This should be a question your PEO would handle. I think you sign up for Medicare and then just inform your employer that you don't need the coverage anymore. I'm not familiar with the whole process though!
Hi didi, glad this was helpful! It means that justworks will have their name on your employee's W2 at the end of the year. It will show them as the employer and their tax ID number. It's just a clerical thing that I want everyone to know, but again, it's not like they control you or your employees in any way. Think of them like a paperwork partner 😀
@@Dandydiddy it is a great option if you need the services a PEO provides. The one con I see is that the cost can be higher than traditional payroll companies. However, the cost can easier be justified if it's saving time and administrative cost. I use them and will save money overall because I will use their 401k.
CPAs build their business on trust, @bettywhitez. I’m not sure which PEO you represent, but I've found that a solid strategy is to lead by giving. Start by referring a quality client to the CPA-this helps establish a strong foundation. Once that relationship is built, you can then position yourself as a valuable resource for their clients, focusing on cost containment in HR, insurance, and benefits. For certain groups, you might also have the ability to lower SUTA rates, which can be a significant advantage and something a CPA would be interested in knowing. When the CPA does send a referral, excellent customer service is crucial to solidify that trust. Beyond CPAs, building partnerships with insurance agents-whether they specialize in group health or commercial P&C-can also be very effective. Alternatively, if you choose to work with PEO brokers, make sure they are reputable and align with your values. Many PEO brokers simply throw an RFP to every PEO they know, and spreadsheet the PEO options without taking the time to deeply understand their clients’ needs. It’s important to partner with PEO brokers who conduct thorough discovery and offer a carefully curated selection of PEOs, so that if they refer a client, you know that you aren't up against a dozen other options
