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Starting a Business

The Ins And Outs Of Employee Leasing

If you're trying to decide whether to hire an employee leasing company, check out this expert advice first.
1 min read
Opinions expressed by Entrepreneur contributors are their own.

How do you decide if an employee leasing company is for you? The National Association of Professional Employer Organizations (NAPEO) suggests you look for the following:

  • Services that fit your human resources needs. Is the company flexible enough to work with you?
  • Banking and credit references. You'll need evidence that the company's payroll taxes and insurance premiums are up-to-date. Request to see a certificate of insurance.
  • Investigate the company's administrative competence. What experience does it have?
  • Understand how employees' benefits are funded. Do they fit your workers' needs? Find out who the third-party administrator or carrier is and whether it's licensed if your state requires this.
  • Make sure the leasing company is licensed or registered if required by your state.
  • Ask for client and professional references, and call them.
  • Review the agreement carefully and try to get a provision that permits you to cancel on short notice-say, 30 days.

For a list of NAPEO member organizations in your area, search the NAPEO's directory online at www.napeo.org/directory.htm.

Excerpted from Start Your Own Business: The Only Start-Up Book You'll Ever Need

You Can Start This 6-Figure Service Business Tomorrow Morning for Under $100