As a small business owner, you do not have it easy. You have to know your business product or service inside out, keep up with the competition, and handle all the administrative tasks associated with business ownership. It is that last set of duties, those administrative, human resources (HR) responsibilities, that often cause the most frustration.
You want to invest your time in growing your business and perfecting what you offer, not spend it crunching numbers, calculating tax withholdings, or navigating small business regulations. When NetPEO connects you with a Professional Employer Organization (PEO), you can get that time back along with other essential benefits to improve your business.
Explaining PEOs
PEOs are organizations that handle the administrative tasks that small business owners assign them. They do this under a co-employment structure, which means the small business employees are also legal employees of the PEO.
The co-employment relationship does not diminish your power. As a business owner, you still make all business decisions and manage your employees’ day-to-day activities. However, you do not have to manage any administrative responsibilities that dominate your time.
Partnership benefits do not end with time. One of the most powerful ways a PEO helps your business is by providing better insurance and benefits packages to your employees.
How Atlanta PEO Insurance Services Help Your Business
Small business owners typically cannot afford to offer their employees insurance benefits packages on the same level that larger businesses and corporations can. Partnership with a PEO, however, can change that to the small business owner’s benefit.
Attracting Employees
Stronger benefits attract stronger employees. Workers want and deserve to be well compensated for their work. When you can offer better benefits, you attract a stronger pool of workers.
Employees who are satisfied with their job situations are more productive and more likely to remain with your business instead of looking for better opportunities.
Saving Time and Money
Hiring new workers takes time. Interviews, background checks, and training require weeks of work. When better benefits packages help you retain employees, you save time on these new-hire procedures. In turn, you save money. Experienced employees know how to get the job done, while new hires need time to produce and “learn the ropes” of the business.
PEO Insurance Negotiations
PEOs harness the saying “there is power in numbers” to secure competitive insurance packages for small business employees. The employees of all businesses who partner with a particular PEO count as employees of that PEO. The large number of employees gives the organization more bargaining power for brokering employee benefits.
PEOs Handle Workers’ Compensation Insurance
In Georgia, business owners who employ three or more workers must purchase workers’ compensation insurance to cover workplace injuries. When employees experience a workplace illness or injury, navigating the workers’ compensation process can be both time-consuming and confusing for employers. And if the employer has cause to question or challenge the employee’s workers’ compensation claim, the situation becomes more complicated.
With a PEO overseeing all workers’ compensation matters, you do not have to invest any time in these proceedings or worry about falling out of compliance with state regulations.
Other Benefits of a PEO Partnership
Providing insurance services is not the only way a PEO partnership can help your business. As a legal co-employer to your employees, the PEO can handle any administrative task you assign it.
Payroll Management
There are layers to payroll management, each of which takes time, organization, and careful attention to regulations. You need to ensure workers are paid on time but also manage taxes, deductions and withholdings, checks, or direct deposits. When you partner with a PEO, these tasks become their responsibility.
The PEO will also keep track of employees’ personal or sick time off, resolve payroll discrepancies, and keep the company’s accounting books in order.
Regulation Compliance
The federal government and the state of Georgia have regulations overseeing small businesses. From hours on duty to required breaks to upholding mandates established in the Affordable Care Act, managing these regulations can seem overwhelming.
Failure to meet standards can lead to fines or other penalties and can hurt your brand. If you assign regulation compliance to your PEO partner, you do not have to keep up with often-changing regulations or risk facing penalties.
NetPEO Connects You to the Right PEO Partner
Choosing the right PEO co-employer is critical to the success of the partnership. If you were to undertake the process on your own, you might not have enough time or energy to see it through. You would have to research the hundreds of PEOs available to Georgia’s small business owners, evaluate their affordability and measure what they offer against your needs, and do a background check of their credibility.
A NetPEO broker can do all your PEO research for you. NetPEO is not a PEO itself. It is a brokerage firm with a vast network of high-quality, credible PEOs. To find the right PEO for your business, your NetPEO broker will:
- Meet with you for a free consultation to get a solid understanding of your business’s needs
- Assess PEOs in the NetPEO network to find “good fits” for a partnership with you
- Present you with a manageable list of PEO options to review – you make the final decision
NetPEO Gives Continued Support
Once you choose a PEO partner, NetPEO continues to support your new business arrangement. Your broker will help you and the PEO develop a co-employment agreement so each party knows what roles fall under its purview. Of course, as the business owner, you drive the decision-making.
Even after the agreement is drawn up, your broker will be available to resolve any issues that may arise. If a resolution cannot be reached and you decide the partnership with your selected PEO is not in your business’s best interest, your broker will facilitate the end of that partnership and help you select another.
Connect Today
Contact NetPEO today to arrange a free consultation with an experienced, attentive broker. Do not lose any more of your valuable time to administrative duties. Instead, get your focus back where it belongs: on growing your business.
