PEO in Wyoming [2024]

If you run a small or medium-sized business in Wyoming and are looking to reduce time spent on administrative HR tasks, a professional employer organization (PEO) can help. PEOs streamline and automate payroll services, workers’ compensation insurance, compliance management, benefits administration, and other HR functions for business owners. They also offer their client companies access to higher-quality, lower-cost employee benefits than they can often afford on their own.

True, Wyoming has the honor of being one of the most business-friendly states in the US, but with the rising costs of doing business everywhere, companies in the Equality State can still benefit from using a PEO service. For instance, a PEO can help small and mid-sized businesses save money on HR demands and employee benefits without sacrificing quality.

Before you join a PEO, it’s important to evaluate your options carefully. This article can help. Rippling PEO makes it easy to hire and onboard people in Wyoming and across the US—from automatically registering your businesses for state taxes to remotely distributing employee devices.

Benefits of using a PEO in Wyoming

Working with a Wyoming PEO can reduce the burden of HR administrative work, help you access more cost-effective benefits, gain the support of an expert team, and more. Below, we’ll take a look at some of the major advantages businesses have when they employ a PEO service.

Offload administrative HR work

How does a PEO work? When you join one, it becomes the co-employer of your workforce. Co-employment is a contractual relationship in which the two parties—in this case, you and the PEO—divide employment responsibilities. You become the worksite employer and retain authority over your company’s strategy, its business operations—such as sales and marketing—and hiring decisions. 

The PEO becomes the administrative employer; they take over HR work for your company by employing your workers under their federal tax identification number (EIN). This makes them able to handle tasks like HR compliance, payroll, benefits management, and so on.

PEOs are able to streamline HR work due to their combination of expertise, established workflow processes, and specialized technology. By taking these administrative, time-consuming tasks off your plate, you and your HR team can focus on higher-level objectives—like strategizing ways to achieve your company’s goals.

Better employee benefits, at a lower price

Employers in Wyoming have a lot to contend with in terms of employee benefits. In addition to the Affordable Care Act (ACA)—the federal mandate requiring businesses with 50 or more full-time employees to provide health insurance—a stellar employee benefits package is also crucial to attracting and keeping top-tier talent in a competitive job market. A PEO can help small to medium-sized businesses meet the wants and needs of employees without overspending.

How? PEO providers employ millions of people at hundreds of thousands of businesses across the United States. Because of this, they command a serious amount of bargaining power with insurance providers, and they use it to help their clients gain access to lower-cost benefits. And the benefits plans PEOs can provide are comprehensive. They often include health insurance, worksite benefits, life and disability insurance, retirement plans, mental health support, commuter benefits, and dependent care, among others. 

Worry-free compliance with Wyoming laws

Employers have the responsibility of complying with not just federal labor and employment laws but also with state-level and local Wyoming laws. This maze of regulations is complex and changes frequently; although Wyoming has fewer additional, state-specific laws than some states, it’s still a lot to keep track of. 

Take the state workers’ compensation law, for example. Wyoming requires employers to register with a state workers’ comp portal to determine whether coverage is required or optional—employees found to be carrying out work deemed “extra hazardous” are required to have coverage. This is different from most states, which require coverage for most employees once employers reach a certain threshold of employees. So if you employ a remote workforce in different states, keeping up with workers’ compensation requirements across borders can be especially difficult. A PEO like Rippling can help keep you compliant—it not only flags violations, but helps you access convenient, pay-as-you-go insurance plans that meet local requirements based on each employee’s location, so you know you’re always in compliance with local laws.

PEOs also offer legal and compliance support for:

• Payroll regulations, including issuing and filing important tax forms and depositing withholdings with the right authorities by the deadlines; classifying employees and contractors correctly; and complying with other wage laws, such as minimum wage and overtime requirements
• Labor laws, such as providing businesses with workers’ comp and assistance with following Equal Employment Opportunity (EEO) laws, as well as displaying state-required labor posters
• Benefits laws, including ensuring you remain compliant with federal mandates like the ACA, COBRA, FSA, HSA, and any other benefits-related regulations

Violating employment and labor laws is costly and can result in harsh penalties. In fact, the IRS estimates that 40% of small businesses pay payroll penalties each year. In other words, compliance support is a significant benefit PEO services provide. 

Dedicated support team

By joining a PEO, you’ll also gain access to the expertise of their human resources professionals, who can provide you with invaluable support and guidance. This can be particularly useful for small businesses and startups that don’t have similar internal resources. In addition to helping you save time and money, a PEO can offer guidance on things like creating an employee handbook, training managers efficiently, streamlining benefits administration, and more.

What to consider when evaluating a PEO service in Wyoming

To find the PEO service in Wyoming that’s right for you, consider the following: 

• Your business needs. Do a quick internal audit, and think about what you need from a PEO. Generally, they offer the following services:
• Tax registration and filing
• Benefits administration
• Recruiting and onboarding
• Payroll processing
• Time and attendance tracking
• Compliance with regulatory requirements
• Outsourcing HR work
• Safety compliance and risk management
• Your budget. Before you join a PEO, think about your budget—both what you can afford currently and what your future expenses might look like. Typically, PEOs charge either a percentage of each payroll run or a per-employee per-month fee. As your headcount increases, the costs of using the PEO typically will, too.
• Experience and reputation. Read reviews written by both past and current clients; sites like G2 and Capterra are great places to start. Find out how well-regarded the PEO is and whether it’s worked with other Wyoming companies before.
• Benefits. Access to employee benefits is a big reason many small and mid-sized businesses work with PEOs. Look at the cost, quality, and range of the benefits offered by the PEO you’re considering to see if they align with your budget and your employees’ wants and needs.
• Benefits renewal rates. It’s best to work with a PEO that’s transparent about how much its benefits plans increase in cost after the first year. Unfortunately, some PEO service providers foist unexpected costs onto surprised business owners by hiking up renewal rates after just one year. This leaves company leaders with one of two options: either pay the higher costs or find another PEO. The best PEOs will be candid about how their rates change.
• Integrations. When you join a PEO, they’ll need to integrate their technology and systems with your existing ones. Find out how they’ll do this and what the process might look like. 
• Does the PEO specialize in certain industries? Small businesses in niche industries may find it helpful to work with PEOs that specialize in their particular field.
• Does the PEO specialize in certain legal or compliance issues? Some businesses have specific federal or state regulations they need to address—for instance, the companies that work in Wyoming’s oil business have specific state regulations they must adhere to that differ from other industries. A PEO with specialized experience can help ensure you remain in compliance.
• Your exit strategy. Someday, you might want to leave your PEO and move your human resources processes in-house. Many PEOs, however, make it difficult for client companies to leave. When you want to go, you have to remove all the tools, technology, and systems the PEO implemented and start entirely from scratch. Ask about how hard it will be to leave before you join a PEO.

Why Rippling PEO is the right choice for your Wyoming business

Most PEOs are still running on software built decades ago. Rippling PEO is the first PEO to sync HR, IT, and Finance in one platform—and on fast, easy-to-use, modern software. Rippling simplifies and streamlines your HR busy work—from 90-second onboarding to remote IT management. 

Setting up state and local tax accounts, automatically flagging minimum wage and overtime violations—we handle all your crucial compliance tasks for you. And we help your team access big-company benefits at lower costs.

With Rippling, you get:

• HR, IT, and Finance integrated in one platform
• Customizable reporting and analytics on any employee data
• Access to superior-quality benefits plans and below-average, predictable renewal rates
• Automatic compliance flagging on the federal, state, and local levels, along with suggested plans of action
• Automated risk management procedures, including ACA and COBRA administration, anti-harassment training, and digitally distributing labor law posters 
• Remote team management features, including state and local tax registration, completely online onboarding, and app and device management
• Access to robust HR resources, guides, and templates

Thinking of bringing HR in-house in the future? Rippling makes it easy to change your plans. Unlike other PEOs, moving on and off Rippling PEO is as easy as switching it off and transitioning to our all-in-one workforce management platform. Better still, all your payroll, HR, and employee data remains stored in your account. Your integrations with other systems remain intact, and your employees keep the same login information—so they can continue using Rippling without interruption.

FAQs about PEOs in Wyoming

What is a PEO, and how does it work?

A PEO provides comprehensive HR solutions to its client companies, including benefits administration, HR management, payroll, and compliance assistance. For tax purposes, the PEO becomes a co-employer of a business’s workforce, employing the company’s workers under its federal tax identification number.

How does a PEO arrangement affect control over my employees?

Business owners retain control over employee management, including hiring decisions, as well as day-to-day operations and business strategy. The PEO assumes control over HR functions and employment-related HR work.

What is a Certified PEO?

PEOs can become certified to show they satisfy specific IRS criteria related to their expertise, background, reporting, and finances. Becoming a Certified PEO (CPEO) is voluntary, and while it doesn’t represent an endorsement from the Internal Revenue Service, it does show that a PEO has passed a series of assessments. Obtaining a certification used to provide certain tax benefits to businesses, but today, those are mostly obsolete.

What size company can benefit from a PEO?

PEOs work with and benefit companies of all sizes, but small to medium-sized businesses tend to benefit the most. By outsourcing HR tasks to the PEO, these companies save on administrative costs and are free to focus on higher-level, strategic work. PEOs also give these companies access to high-quality benefits plans they may not be able to access on their own. 

How does a PEO charge for its services?

Typically, PEOs charge either a per-employee flat fee or a percentage of the total payroll. The total cost you pay will vary based on the services you need and the total number of employees in your workforce. 

What is the implementation process, and how long does it take to go live?

The implementation process can take a couple of weeks to a few months; it depends on the size of your business and the complexity of the services the PEO will provide.

Here’s how it typically works: The PEO will start by collecting information about your workforce. This includes payroll data, benefits information, and employment records. They’ll then prepare their systems to handle your HR, payroll, and benefits administration work. This step might include integrating their technology with yours. The PEO may also onboard your employees, train your team to use their systems, and provide ongoing support.

Are PEOs regulated?

Yes, PEOs are governed by both federal and state regulations. Furthermore, many increase their credibility through industry accreditations. 

Are PEOs in Wyoming required to have special certifications or licenses?

No, Wyoming PEOs don’t need a special license or certification to operate in the Equality State.

What happens if I want to terminate my relationship with a PEO?

All too often, terminating a relationship with a PEO is a painful and inefficient process that requires you to rip out their systems from your own and start over again. It can be incredibly disruptive, especially if the PEO handled a lot of work for you.

With Rippling PEO, moving off the PEO is painless. Just switch it off and transition to our all-in-one workforce management platform while leaving all your systems, data, and integrations intact.

In what states is Rippling PEO available?

Rippling PEO is available throughout Wyoming—from Cheyenne to Casper, Laramie, Sheridan, and Cody—and in all US states.

Disclaimer: Rippling and its affiliates do not provide tax, accounting, or legal advice. This material has been prepared for informational purposes only, and is not intended to provide or be relied on for tax, accounting, or legal advice. You should consult your own tax, accounting, and legal advisors before engaging in any related activities or transactions.