Though owning your business and “being your own boss” is an attractive concept and certainly worth pursuing, business owners quickly realize that “being your own boss” means the job never ends. Every aspect of the business is “your” job. Responsibilities pile up, leaving you less time to focus on innovating and growing your business.
NetPEO provides a way for business owners to regain their time and refocus their energy on the product or service their business offers. By outsourcing human resources responsibilities to a professional employee organization (PEO) from NetPEO’s network, business owners save time and money, and attract and keep stronger employees.
NetPEO Makes Connections
A PEO is a separate business that works in partnership with other businesses, taking on human resources (HR) responsibilities. In some situations, all HR tasks are outsourced.
In other cases, the business owner may outsource only select tasks. Ultimately, the business owners get to choose what works best for them.
Finding the right PEO to partner with requires extensive research, and the process can be time-consuming. For people already needing more hours in their day, taking on yet another arduous task is a problem. Fortunately, NetPEO has the solution.
NetPEO is not a PEO itself. It is a network of researched, reputable PEOs. Our brokers consult with business owners to determine their needs and connect them with suitable PEO partners, and the owners review the options provided and make the final selection.
NetPEO Offers Continued Support
Once a match is made, NetPEO does not simply disappear from the scene. We help businesses and PEOs work out partnership agreements and transition into their new relationship. If problems arise, NetPEO will help resolve them or guide the business to a different PEO partner.
How a PEO Partnership in Fort Lauderdale Works
When you, as the business owner, partner with a PEO, you enter a co-employment relationship. Under this structure, your employees are also employees of the PEO.
This relationship does not reduce your control of your business. You still have the final say when it comes to major decisions and are the primary employer for your staff. The PEO follows your direction.
The co-employment relationships provide the legal structure needed for the PEO to manage payroll, tax submission, benefits, and other responsibilities. This relationship offers you protection as the PEO, shares responsibilities, and shares risks, particularly with matters of compliance. Since the PEO partner can be held accountable for lapses in compliance, they will work hard to avoid those lapses and provide you with instructions and requirements for remaining above board.
Partner with a Fort Lauderdale PEO for Better Insurance Services
Better insurance benefits packages attract stronger employees. However, good benefits are expensive, and owners of small and mid-sized businesses often cannot afford to offer substantial packages.
PEOs are co-employers will multiple business owners, which means the PEO can include those collective employees in their employee pool. This large pool gives the PEO more bargaining power for benefits packages and lower individual costs for those benefits. The result: business owners save money and can compete for the best employees, and employees get the benefits they deserve.
Businesses must comply with the Affordable Care Act and other regulations when it comes to offering employees health benefits. These laws can be challenging to navigate. When business owners partner with a PEO, the PEO assumes responsibility and shares the risk for maintaining compliance and keeping the business in good standing.
Other Services a Fort Lauderdale PEO Partner Offers
Along with securing attractive benefits packages and keeping your business in compliance with regulations, PEO partners offer additional services.
As a business owner, you know that payroll management involves much more than simply cutting paychecks. Payroll responsibilities include tracking and monitoring work time and time off, managing benefits, managing payroll discrepancies, and keeping the company’s books balanced, among other detail-oriented tasks that demand hours of your time.
You can get that time back by assigning payroll management to your PEO partner.
Employee Recruitment, Training, and Development
Finding and hiring new employees takes time and careful consideration. A PEO partner can handle recruitment, vet potential employees through background checks and drug testing, and either onboard them or present candidates to you for final approval, depending on your partnership agreement.
The PEO company can also give support to new hires, helping them become acquainted with the business through training and other resources and answering their questions about payroll, benefits, and other company policies.
Performance reviews and employee evaluations are essential to employee and business growth. Your PEO partner can ensure these evaluations are effective and meaningful, leading to improvement across your company.
If workers get injured or become ill because of a work-related condition, they generally file workers’ compensation claims to recoup wage losses and medical costs.
If circumstances require you to end a worker’s employment with your business, and the employee is unhappy with the decision, they may file a wrongful termination claim. Your PEO partner can manage these claims and work toward a resolution while you remain focused on your business.
A Fort Lauderdale PEO Partner Saves You Money
We have all heard the phrase “time is money.” One way a PEO partner saves you money is by saving your time. The more time you have to put into your business, the stronger your bottom line.
But you do not just save time when you partner with a PEO. Outsourcing your HR responsibilities to a partner company is more cost-effective and comes with more benefits than if you hired and oversaw a full HR team on your own.
Entering a PEO Partnership Is Good Business
NetPEO is here to support business owners and help businesses grow. Partnering with the right PEO company is the smart choice. It is just good business.
Reach out to NetPEO today to schedule a free consultation with an experienced broker who will assess your business needs with precision and guide you toward the right PEO partner.