Whether you own a small, medium, or large business, it is impossible to handle every aspect of the company on your own. You need employees to handle the workload, upper management to manage the business responsibilities, and a human resources department to keep your team cohesive and handle administrative matters.
However, when you do not have the time or resources to expand to an entire HR department, a co-employment agreement with a professional employer organization (PEO) could be the best solution for your company. NetPEO can match you with an Albany PEO company that can help keep your business focused, reduce turnover rates, and retain the industry’s top talent. Contact our team for a free consultation today and learn more about which services your company needs to boost productivity and elevate to the next level.
How a PEO Company in Albany Can Help
Until your business expands and grows, you may not anticipate some crucial roles and responsibilities you must be prepared to take on. As you hire more team members, one of the most notable will likely be the tasks and duties a human resources department would traditionally handle.
Fortunately, when you work with a PEO, you can spend more time focusing on the business and less time on documentation, paperwork, and minor complaints or disputes. With a PEO company in Albany working for you, you can have your PEO shoulder your HR responsibilities and administrative details so you can devote more of your attention to product generation, creativity, and expansion.
Benefits of an Albany PEO
The benefits of hiring a PEO company in Albany are undeniable. They can handle various tasks an entire human resources department would handle as part of your co-employment relationship. This allows your small or mid-size company to grow and access the same services larger companies and corporations do at a more affordable rate.
Payroll Services and Employee Benefits Packages
When you hire an Albany PEO company, you can use their payroll processing services. You will no longer need to handle employee hour and pay rate verifications, tax responsibilities, wage garnishments, federal and state taxes and withholdings, and other payroll administrative details. Your PEO will also be responsible for researching employee benefits packages if you hope to ensure your team members are well-taken care of.
Since you are in a co-employment relationship, you can now access higher-quality employee benefits packages, including health insurance, employee assistance programs, and retirement savings accounts that would have otherwise been too costly for a small business owner. With exceptional benefits packages, you will likely retain top talent and reduce your business’s turnover rates.
Hire Top Talent
Your new HR department through your Albany PEO will help your business grow by handling the hiring, training, and onboarding responsibilities of hiring new talent. This includes recruitment, job postings, conducting interviews, completing drug tests, and thoroughly vetting potential candidates.
Once hired, your PEO will train the employees. Hence, they understand your company’s policies and procedures, know how to handle disputes or complaints, and can enroll in your comprehensive employee benefits packages. When you have your PEO deal with recruitment and training, you can spend more time fostering the talent of established team members and promotions from within.
Remain in Compliance with Government Regulations
It is crucial to comply with local, state, and federal rules and regulations. You must be prepared to adhere to the New York Department of Labor policies and those dictated by the U.S. Department of Labor. However, these rules can be complex, and if you violate these regulations, you could face fines, sanctions, or even be at risk of having your business shut down.
Thankfully, when your Albany PEO provider works with you as a co-employer, your outsourced human resources department ensures your business always complies. This way, you can avoid massive fines, protect your company’s reputation, and steer clear of potentially devastating consequences.
Give Your Employees Autonomy
When your employees feel as though they are taken care of and valued, they are often more loyal to their employers. One of the best ways to increase autonomy is by implementing employee self-service sites. This way, your employees can use these systems to access your employee handbook and other legal documents, complete training modules, track their hours and pay rate, access pay stubs and W2s online, and even request time off.
Your Albany PEO company can create employee self-service systems with your business’s goals and needs in mind to develop a fully custom program that benefits your employees and boost autonomy in the workplace.
These are just a few of the perks of choosing to work with a PEO. You can go through your company’s HR needs in detail with NetPEO to ensure you are matched with a provider who can deliver the results you have been looking for.
Costs of Hiring a PEO in Albany
One of the top reasons more companies do not hire a PEO company is because they are worried about the costs. However, working with a PEO is far more cost-effective than it would be to hire an entire human resources department.
NetPEO can match you with a provider based on your desired payment plan. Generally, these include fees based on a company’s gross payroll or expenses per employee.
In fee-per-employee plans, the company is charged a flat rate per employee. In gross payroll plans, your PEO costs will amount to a percentage of your company’s total payroll costs.
Generally, smaller companies will go with per-employee fee arrangements, while larger companies often benefit from gross payroll fee arrangements. You can discuss your company’s specific financial needs with NetPEO during your initial consultation.
Get Set Up with the Right Albany PEO for Your Business
When you are ready to take your business to the next level, start by outsourcing your HR responsibilities to a co-employer with an Albany PEO company.
Meet with NetPEO professionals today for an initial needs analysis and find out which services are the right fit for your expanding business. You can reach us through our confidential contact form or by phone to schedule your free consultation as soon as today.