| "body"> | | | | workers' compensation insurance on their own, small |
| Many Montana businesses are gasping for air and | | | | businesses are faced with paying extremely high |
| struggling to survive in what is still a slow-to-recover | | | | premiums, much of which is required up front in the |
| recession. As Montana businesses are trying to | | | | form of a deposit or down payment. Using a PEO |
| maintain operations and wait out the storm, the | | | | service, employers are able to have their work comp |
| mandatory costs associated with paying employees | | | | purchased through a master policy, combined with |
| is intimidating. One payroll cost that is out of control | | | | thousands of other employers. Doing so allows for |
| is Montana workers' compensation insurance | | | | substantial rate reductions, resulting in the ability to |
| premiums. In 2008, it was reported that Montana | | | | save significant amounts on the cost of Montana |
| workers' compensation insurance is the second | | | | workers' compensation insurance. For some Montana |
| highest for workers compensation premium rates in | | | | businesses in high risk industries such as forestry |
| the United States. | | | | service and roofing, this can be as much as $10,000 a |
| Because of the slow improvement of the Montana | | | | year or more in work comp yearly premium savings. |
| economy, businesses are seeking effective ways to | | | | When Montana employers are able to pay less on |
| reduce Montana workers' compensation insurance | | | | insurance costs, they are able to operate their |
| premiums and other employee-related costs, while still | | | | business more competitively and attain more work |
| being able to promote growth and productivity. With | | | | then their competition. Using PEO services is almost a |
| the "Montana Professional Employer Organizations and | | | | necessity for employers searching for ways to save |
| Groups Licensing Act", the Montana legislature has | | | | money on Montana workers' compensation insurance |
| expressed that using PEO companies, also known as | | | | and other payroll costs. |
| employee leasing services, may be the light at the | | | | Choosing a PEO is a struggle in itself though if you |
| end of the tunnel and that "there is a public need for | | | | are going at it alone. Obtaining quotes is time |
| these professional employer services." | | | | consuming and stressful. Finding a PEO broker who |
| What does this mean for the average Montana | | | | has access to hundreds of individual PEO companies |
| employer? Professional Employer Organizations can | | | | and specializes in finding the best PEO service for |
| save employers a huge percentage on their workers' | | | | each business' individual needs is crucial to getting the |
| compensation rates. When obtaining Montana | | | | most out of using professional employer services. |