Why make the switch? Because PEOs can do all of the following (and cost you less money).
Plus, you can get a year of HotSchedules for free.
With higher rent, food, and labor costs, running a profitable restaurant is more challenging than ever.
You can’t control these costs, but you can lower your State Unemployment Tax (SUTA) and Workers’ Compensation tax by partnering with a PEO company.
By partnering with Fourth, we can handle all of the HR tasks you don’t want to do for less money than your current payroll provider.
“Fourth really understands the intricacies of the restaurant industry and how complex payroll can be with onboarding, tipped employees, and turnover. With any issue, they always have the best solution ready for us.”
— David Culhane, the Operations Director at Sun Pubs
PEOs work by becoming co-employers of your staff. They share workforce responsibilities like handling payroll, benefits administration, and compliance, freeing up time to focus on and grow your business,
The savings PEOs can obtain for you—from their scale and tax advantages — offset the partnership’s out-of-pocket costs.
Each state has a different SUTA tax rate for new employers. The SUTA tax rates in Florida range from 0.25% to 6.25%. The new employer tax rate is 2.70%.
We lower your State Unemployment Tax
We lower your Workers’ Compensation Costs
Partnering with Fourth PEO services means you can save money by sharing resources, reducing your risks, and having a team of HR experts to manage your HR tasks, payroll, and employee benefits.
| PEO | Payroll Service | |
|---|---|---|
| Overall Cost
PEOs offer comprehensive HR solutions that can lower overall costs through economies of scale and more efficient resource use. |
Lower | Higher |
| Direct Fees
While PEOs may have higher upfront fees, they provide more value through bundled services that address multiple HR needs. |
Higher | Lower |
| Workers’ Comp. Savings
PEOs can secure lower workers’ compensation rates due to their large pooled risk, translating into direct savings for your restaurant. |
Covered | Not Included |
| SUTA Savings
With PEOs, your restaurant benefits from potentially lower State Unemployment Tax Act (SUTA) rates, reducing overall unemployment insurance costs. |
Covered | Not Included |
| Employee Benefits
Fourth’s PEO offers scalable, pay-as-you-go employee benefits, allowing your restaurant to provide competitive packages without the overhead of managing them in-house. |
Pay-as-you-go | Not Included |
| Administrative Costs
Fourth’s PEO eliminates the need for additional overhead expenses for HR tasks and payroll taxes. |
Included | Extra Charges |
| Unemployment Claims
Fourth’s PEO handles unemployment claims, reducing the administrative burden on your restaurant and minimizing potential errors. |
No Hassle | Additional Costs |
| Employee Handbooks
Fourth’s PEO provides customized employee handbooks, ensuring your restaurant has up-to-date, compliant, and professional documentation. |
Included | Not Included |
| Dedicated HR Support
Fourth’s PEO provides you access to dedicated HR experts offering personalized support and advice to easily navigate complex HR issues. |
Whenever you need help | Not Included |
| 401K Plans
Fourth’s PEO offers 401K plans in the benefits package, enhancing employee satisfaction and retention. |
Included | Not Included |
| $2MM Employer Practice Liability Insurance
Fourth’s PEO provides $2MM of employer practice liability insurance, adding protection against potential HR-related legal challenges. |
Included | Not Included |
| W-2 Forms
Fourth’s PEO manages and files your W-2 forms for all employees, streamlining tax reporting and ensuring compliance. |
Managed and Filed | Varies |
State of the Industry Florida’s restaurant industry is booming. In 2022, the state boasted 1,032,400 jobs in restaurants and food service—and more jobs are being added every day. Florida’s restaurant employment increased by 21.3% between 2021 and 2023, making it a leading state for restaurant growth, only surpassed by Hawaii and the District of Columbia.
This level of growth, while exciting, brings its own problems. Running a small- to medium-sized restaurant business comes with countless daily challenges that can be overwhelming for operators. One significant struggle is managing the complexities of HR and payroll administration in an industry known for its high turnover rates.
Recruiting, hiring, and training new staff is already a perpetual challenge. Keeping up with employee paperwork, payroll processing, compliance, and benefits administration adds complexity and significant overhead costs. Offering competitive benefits to attract and retain top talent is essential, but it can be challenging for smaller businesses to negotiate cost-effective health insurance and other employee benefits.
Florida’s restaurant industry is diverse and growing rapidly. PEOs provide the HR and payroll solutions needed to navigate this growth successfully. Whether you run a fine dining restaurant in Miami or a family diner in Tallahassee, partnering with a PEO helps you focus on delivering exceptional culinary experiences and growing your business.
Save time, reduce costs, and increase profitability with Fourth’s intelligent solutions.