How PEO’s Can Help a Growing Business

You may be growing too quickly for all your business needs. Specifically, you might need to hire employees but do not have the infrastructure in place (i.e., office space, accounting department) to take care of them. A Professional Employer Organization (PEO) is an organization that manages employee onboarding and offboarding, human resources (HR) administration like payroll and benefits, insurance programs like Workers Comp or liability insurance, safety training/counseling/strategies. PEOs can help make sure everything complies with local laws/guidelines. Anything related to the employer side of the relationship between your company and your employees a PEO can take care of for you. PEOs are third-party organizations that can help smaller businesses succeed by taking on some of the administrative burdens associated with hiring and maintaining staff.

Provide Access to High-Quality Benefits for Employees

Many small businesses think they can’t afford to provide their workers with complete benefit packages. A PEO, however, can provide benefit options like health insurance, life insurance, and even retirement plans at affordable rates. By hiring a PEO to help you add these benefits, you can attract more high-quality staff.

Access to HR Experts

PEOs have a staff of trained HR professionals who understand how to properly hire staff members according to federal standards. As a bonus, many of these same HR professionals are familiar with payroll services, benefits packages, performance evaluations, and even how to recruit quality employees. Because PEOs have these resources available to them at all times, they can provide continuous support that many small businesses would otherwise not be able to access.

Protecting Your Company From Litigation

Many small businesses think they can’t afford to provide their workers with complete benefit packages. A PEO, however, can provide benefit options like health insurance, life insurance, and even retirement plans at affordable rates. By hiring a PEO to help you add these benefits, you can attract more high-quality staff.

Time Savings

There’s no time like the present for bringing in a human resources and employee benefits department into your business. By doing so, you’ll discover there is less time spent on hiring processes as well as administration. Those working for this service will complete all those tasks, allowing you to focus on running your business as smoothly as possible.

Access to Tax Benefits

When you hire an employee through a professional employer organization (PEO), the company withholds taxes and files your workers’ employment tax returns for you – which means you don’t need to worry about HR, and there’s no need for an accountant. You will save time and money by using a PEO because it takes care of all the administrative burdens associated with hiring additional staff members.

Improve HR Tasks With Modern Technology

Technology is changing the way small businesses operate. Since it’s not easy or cost-effective to hire an HR expert to help you administer payroll, hiring through a PEO enables you to update your processes with the latest technology advances. From online applications and internet-based training modules to automated email responses and text message alerts, entrepreneurial companies can improve their HR department by partnering with an agency that specializes in these services 24/7/365.

Overcome Health Insurance Concerns

As previously mentioned, PEOs provide access to high-quality benefits. However, one of the biggest concerns that new business owners face when adding staff members is finding affordable health insurance options. Many times, these plans are too expensive for small businesses to afford. With a PEO at your side, you don’t have to worry about paying costly premiums because the company can offer its employees more competitive rates by pooling all of their claims together.