A professional employer organization (PEO) can provide small businesses with big benefits. You can work with a PEO to get:
- High-Quality Employee Benefits
- Risk Management and Brokerage Services
- Help with HR Compliance
Working with a PEO also allows you to outsource your business’s human resources (HR) department. Some companies choose to move forward without an in-house HR department, allowing the professionals at their PEO to handle all of their HR needs. Other companies keep some HR tasks in-house.
Your company has unique HR needs that you can outsource or keep partially in-house. You can find a PEO company that will ensure you get the care you need with the skilled assistance of NetPEO.
Understanding How a PEO Works
PEOs are businesses that allow you to outsource certain business tasks (not necessarily all). These companies work with many smaller businesses. This allows them to negotiate with insurance companies to get high-quality benefits for costs that small companies can afford. PEOs can also handle HR tasks and ensure compliance with government regulations.
Companies that work with a PEO engage in a co-employment relationship. Co-employment means that, in some circumstances, the PEO firm will act as the employer for your workers. You maintain control over your company and make all decisions. The PEO merely handles designated HR tasks and benefits administration.
PEOs Can Handle Many HR Tasks
Human resources administration can take tremendous amounts of time and effort. Many larger companies have huge departments dedicated to handling HR issues. You can get bogged down with administrative tasks and high salaries for an in-house HR department.
PEOs can deal with this burden of HR administration for you. An experienced PEO firm can handle:
- Employee Recruitment
- Employee Training
- Organizational Development
- Performance Management
You can also rely on PEOs to deal with:
- Benefits Administration
- Payroll Administration
- Worker’s Compensation
- Insurance and Retirement Plans
Your business can also use a PEO to handle safety programs. Additionally, the professionals at a PEO firm can ensure that your company complies with government regulations related to HR issues and taxes.
Outsourcing your HR department can save you money directly, as you will not have to hire employees to handle all of the HR needs of your company. You also save money indirectly with a PEO. A recent study showed that PEOs could lower employee turnover by 10-14%, reducing the costs for hiring and training new employees.
Over 150,000 small businesses around the country have decided to take advantage of the benefits associated with a PEO. The assistance of a PEO can help you stay competitive in your business market.
PEOs and Human Resource Departments
Your company might already have an HR department with dedicated employees that have proven skills and abilities. You might just feel more comfortable maintaining a HR department of your own, while working with the HR professionals at a PEO. While a PEO can take on the entire burden of HR administration, the final decisions for your business rest in your hands.
Some companies decide to maintain a HR department even with a PEO company. The decreased workload on HR employees can allow them to focus more on other business issues, including:
- Client Retention
- Succession Planning
- Employee Cross-Training
- Leadership Development
- Employee Satisfaction
Businesses sometimes decide to retain a HR department to focus on the development of internal policies, or the analysis of industry trends. While a PEO takes care of time-consuming HR tasks, an in-house HR department can stay focused on improving profits and business growth.
Find the PEO Firm That Works for You
The right PEO firm will understand and adapt to the needs of your business, both for employee benefits and for HR administration. You need a company that can change with you and ensure that you get the services you need, whether or not you maintain an in-house HR department.
Picking the PEO company that meets your needs can be tricky. You need to consider cost structure, contract offers, and the cancellation policy of the PEO. Many PEOs offer varying levels of online access, customer service, and IT support. The reviews of other customers can put you on the right track, but professional help can give you a better chance of making the right choice.
NetPEO can help you find a PEO that can help your company stay ahead of the competition. We work with skilled PEO firms, and we’ll match you with the company that best fits your needs.
Outsource Your HR Needs and Grow Your Business with a PEO
PEOs are dedicated to helping your business expand while leaving you with control over your future. You can decide to outsource all of your HR tasks, or keep some in-house. No matter what you chose, working with a PEO can save you time and money. NetPEO is here to help you select the PEO firm that meets all of your needs.
You can contact us today by filling out the form on the right or calling (678) 376-1212.
