To use this calculator, input the number of employees, average salary per employee, and any known payroll details. Adjust the PEO fee percentages to see potential savings. The calculator will provide an estimate of current and new PEO costs, along with potential savings.
The formula calculates total payroll if not provided, applies PEO fee percentages to determine costs, and calculates savings by comparing current and new PEO costs.
Consider a company with 10 employees, each earning an average salary of $50,000. If the current PEO fee is 5% and a new PEO offers 4%, the calculator will show potential savings by switching.
While PEOs can reduce HR costs, consider the quality of services and support provided. Evaluate both cost and service quality when choosing a PEO. For more insights, check our Paycheck Calculator and ROI Calculator.