Insperity Review 2022 – Top 10 Employee Leasing Services
Insperity is the best PEO for small companies because of its affordable pricing, user-friendly web platform, and many staff training options. Small businesses needing HR administration, payroll processing, employee benefits, risk, compliance management, and in-house training and development may turn to the service provider for flexible PEO solutions. The company charges a flat rate per employee for these services. However, you may sign up for the services you need and then scale up as your business expands. The Employer Services Assurance Corporation (ESAC) and the Internal Revenue Service (IRS) have accredited and certified the firm.
Insperity's comprehensive PEO solution is filled with capabilities that may not only spare you time daily but also give your workers perks that will last them a career. Time Star's timekeeping solutions, employee self-service intake, focus on legality, employee help program, and employee performance management are some of the greatest tools available in the PEO business.
Flat fee alternatives and good training courses are available; thus, the platform's higher price tag is justified. Checking employee details and health benefits while on the road is now possible with the help of a simple and free mobile app. When comparing the service provider's all-in-one solution to the la carte, there are certain advantages to using the latter. The monthly cost of any add-ons might rapidly grow, so be careful to inquire about these features before signing up for a service.
- Cheaper Health Insurance
- Health, dental, and vision insurance has never been more affordable. This is the most apparent advantage of working with a PEO, accounting for almost all of it. Compared to the national average, the rates here are substantially lower, and they have been increasing at lower amounts in the past few years. Benefits like these enable you to match with the major firms, which your workers will appreciate and maybe a powerful recruitment tool.
- Third-Party Payroll Services
- A third-party handles payroll processing. You must be employed by the PEO to be eligible for the PEO's health insurance plan. As a result, your paychecks will be processed by the service provider and taxed using their Tax ID. Provide them with the hours worked, and they will take care of everything else. Because you no longer have to perform this on-site, you may save more money.
- 401k Management
- While handling 401ks, you may use a well-integrated program. There are no additional costs for this servic
- Although the company is a fantastic PEO, you must have at least five employees to use them. You should be informed of this if you are looking for a PEO for your small company since it's a frequent need among many service providers.
- The company's website does not provide price information, which may be a drawback for some. While many PEOs do not post price information on their websites because of the wide range in pricing, it would be helpful to understand how much Insperity's products may cost. This gives you a sense of where they may fall within your budget. Justworks, which provides price information on its website, is a good option if you want to know costs before you begin your inquiry.
There is a plethora of PEOs from which to pick. All of them are available, but which is best for your company? Insperity is one of the most well-known. The company, which was initially known as Administaff, changed its name to avoid being mistaken for a temporary staffing agency. It has been providing PEO services for some time. They are still ahead of the pack compared to the competitors, but how do they compare overall?
You may rely on the platform’s big pool of leased personnel for security if you need it. They have a higher degree of brand awareness, which is a bonus. A lot of information is available about how they are doing financially since they are a publicly listed firm. As their influence grows, so does the amount of publicly available information on them on the web.
The company has one of the broadest selections of PEO services and HR strategy options in the business. There is no distinct human resources or administrative support website, but you can still view all of its features and functions in the drop-down list. Most of its desirable products, according to customer evaluations, include;
- Management of Employees’ Performance
It’s good to identify and reward your employees to maintain workplace morale regularly. As a bonus or reward, something can be provided. The service provider can help you prepare tailored performance analysis for all your workers to identify those who deserve this prize. It’s now easier than ever to examine each individual’s file and understand their strengths and limitations.
However, a win-win situation may become expensive to keep your personnel up to date on industry knowledge. The company has hundreds of courses on valuable subjects, including business and technology, available for purchase or subscription. A few hours a week might be added to workers’ plans to complete these self-paced courses. The platform has more training possibilities than its rivals if you value continuous learning.
- Customizable Human Resource Management Solutions
HR products from the service provider can help your firm with everything from hiring to dismissal to productivity evaluations and employee handbooks. Likewise, they can assist with online training and creating corporate policies and employee handbooks. Like many other PEOs, the company does not focus on providing all of its services to its clients. You may choose just one service bundle to sign up for based on the HR issues of your company.
- Payroll Processing
Processors of payroll, such as Insperity, provide all of the most basic services, such as time and attendance monitoring, paid time off accrual, sick leave and vacation tracking, W-2 production, employment verification, wage garnishments and deductions, payroll management, and record-keeping.
The platform uses TimeStar, a time-tracking software. A virtual time clock provides safety and reliability for the staff while maintaining the right payroll information. Worker badge (using equipment for badges) and biometric (fingerprint) time monitoring alternatives are available through TimeStar, as are mobile and online punching alternatives (through the company computer).
In the event of an hourly overage, managers may be notified automatically. If overtime is something you are trying to avoid, TimeStar may be a cost-saver. For you to keep your payroll costs in control, the system makes it simple to modify your timetable. Time Star’s email and tool alerts save administrators time by sending time off questions from employees. Managing time off is a one-click process.
- Managing and Complying with Regulatory Requirements
The PEO can help your business with worker’s remunerations, return-to-work initiatives, occupational safety mentoring, and policy analysis. According to legitimate reviews, HR-compliance coaching, drug-free office policy-making, compliance with laws, liability coverage, unemployment control, and claim help and support.
- Incentives for Workers
The company’s benefits package is perfect. To get the best prices, you need a lot of personnel. Subscriptions often include a complete 401 (k) plan, short-term and long-term disability coverage, life insurance, and flexible employee savings accounts. If workers wish to make changes to their perks, they may do so using their portal. Health care provided by the firm is of the best quality, yet it is less expensive than many alternatives on the market, according to employee feedback. However, you may have few choices due to exclusive reliance on United Healthcare as its main health insurance provider. On the other hand, the platform is ACA-compliant, accounting for 90% of its value.
- Tax Administration
The service provider is one of the 40 IRS-approved PEOs with a tax-exempt organization certification (IRS). It adheres to all applicable federal, state, and local employment tax regulations by paying all taxes on time and completing all filings and deductions following these laws. Customer feedback on the company’s website may also help keep your business’s working capital positive.
Plans and Pricing
Flexible pricing and durations are two of the company’s most notable qualities. They do not need new customers to sign long-term contracts. A one-year term is more common for small enterprises with less than 150 workers, and any party may end the agreement by writing a 30 days notice. A company with more than 150 workers may be subject to an early termination fee.
Insperity does not take a percentage of your overall payroll but charges a flat rate per employee if you have at least five. With this approach, your PEO expenses, excluding healthcare, benefits, payroll taxes, and employees’ compensation, remain steady. PEO programs from the platform provide a pre-packaged set of HR services. More services are available for an additional price, but you may opt-out at any time.
Frequently Asked Questions
In What Areas Does the Company Excel?
An effective employee portal is provided by the service provider, through which workers may manage their presence and punctuality, check their pay stubs, and review HR perks. Similarly, there is a friendly marketplace where people can buy different cheap products. For small businesses without an HR department, it’s a wonderful PEO.
Is The Company a Reputable Business?
Despite the conflicting internet ratings, many customers of the service provider believe they provide the best services. When creating a PEO package, choose which solutions to use from a drop-down menu on the PEO’s homepage. Likewise, customer care is praised for its professionalism and dedication to responding comprehensively to HR questions. In addition, they provide top-notch training for their personnel.
Who Can Benefit the Most from the Company’s Services?
Using the platform is a fantastic idea for companies that want to maximize productivity, track more employee details, improve their 401(k) offerings, and provide their employees with unique training opportunities. It may cost a little more for small businesses, but it’s worth the money, according to reviewers.
What Kind of Software Does the Company Use?
The development team designated NetSuite SuiteTalk online services because of its quick time-to-market advantages in integrating HCM.
What is Insperity’s payroll?
The self-service portal provided by the service provider allows workers to access to their job information anytime. View pays stubs, W-2s, timesheets, PTO balances, and other vital documents. Perks and the 401(k) plans may be managed and altered.
What is OrgPlus?
Creating, updating, and distributing organizational charts has never been easier than using the provider’s OrgPlus. Using it in conjunction with your HR database means you always have access to the most up-to-date facts, making it a strong tool beyond simple organization charting.
Is a Criminal Background Check Performed?
The platform’s employment screening provides various services, including occupational background checks, drug testing, and expert evaluations, to secure the workplace, prevent employee theft and fraud, and increase productivity.
HRIS vs. PEO: What’s the Difference?
The administration of perks, human resources, payroll, and other business aspects may be easier with the assistance of PEOs and HRIS systems. When comparing HRIS with PEO, the critical distinction is that PEO is more of an all-in-one solution, whereas HRIS is merely an online tool.
Is The Company Right for You?
Yes. There are many reasons why this platform is good for your business. The company’s system is not difficult to set up. Account executives can assist you in getting started with the cloud-based platform. If your business expands and you need additional PEO-related services, your contact with customer care may be a go-between. Having a single point of contact makes it easier for your business to get the most out of its relationship with the firm. Likewise, the system has many how-to guides and a dedicated account manager.
Managers and employees can easily access your HR and payroll data using the company’s web or mobile app. A two-factor authentication system secures the site. There is a central location where workers can go to get details on their income, 401(k), benefits, health savings account (HSA) or flexible spending account (FSA), compliance, and productivity, as well as corporate resources and materials. It’s simple for your workers to track their time worked, request time off, and adjust their 401(k) payments.
Similarly, the ESAC and IRS have recognized and approved this PEO, placing it among the best in the business. The IRS has a verification process to confirm that PEOs are viable and capable of providing the services they advertise. A third-party grading agency, ESAC assigns a letter grade to PEOs based on the breadth and quality of their offerings. Furthermore, the platform has received certification and an A+ rating from the Better Business Bureau. Numerous competitors of Insperity are either unrated or have low scores with the independent rating organization we used to conduct our research.