When looking to entice new talent to join your company, offering an appealing employee benefits package is essential. Offering top employee benefits can also play a key role in keeping your workforce happy and minimizing turnover. Unfortunately, competing with the benefits packages offered by some larger corporations can often be a challenge for smaller companies.
Providing competitive benefits is one of the ways that a PEO company can step in and help your business thrive. PEO stands for Professional Employer Organization. By working with one of these organizations, you will join their network. This partnership allows you to qualify for discounts and special pricing for employee benefits packages.
At NetPEO, we have been a member of the PEO industry for over 30 years. We provide our partner companies with the means of accessing premium benefits packages that are not often available to smaller businesses. Learn more about how we can help your company stay competitive and get a free quote today.
What Does a PEO Do?
A PEO is a company that is separate from your own but with which you form a close working relationship. If you partner with a PEO, your company will remain entirely autonomous but benefit from being part of a larger network. This network will provide you with the means of qualifying for discounts on employee benefits packages normally reserved for larger companies.
As well as providing you with the means of accessing these discounts for employee benefits packages, a PEO will also provide you with human resources (HR) services. While you will continue to be in charge of hiring, firing, and management of your workforce, a PEO can take over the day-to-day HR operations.
How PEO Employee Benefits Can Make You a Competitive Employer
Everyone is always talking about supporting small businesses. The reason we hear so much of this talk is because we all know that the deck is stacked against these companies. The fact is that large corporations have the means to offer services with which small companies can’t compete. One of the reasons for this is that many suppliers offer discounts for larger purchases.
These discounts can come in the form of purchasing goods to sell at a lower price since they are buying in bulk. It also applies when purchasing employee benefits. Because of this, partnering with a PEO can help keep you competitive. This partnership will allow you to purchase employee benefits packages at the same price the large corporations pay.
How Working With a Georgia PEO Can Benefit Your Company
When partnering with a PEO, there are many perks that will benefit your company. The various benefits of this partnership can be wide-ranging. Although access to affordable employee benefits packages is one of the most enticing bonuses of this relationship, it is just one of the many ways that working with a Georgia PEO can help your company.
Other ways in which a PEO can help include:
- Ensuring compliance with the Affordable Care Act (ACA)
- Improving your performance review system
- Recruiting talent
- Taking over payroll
- Handling claims and disputes
How Co-Employment Works
When you partner with a PEO, your business relationship is referred to as co-employment. Under this setup, both parties have clearly defined roles. These parameters can help you create a strong working relationship, even without any past affiliation on which to build trust.
Once you have entered into a partnership with a PEO, your role within your company will not change. You will retain your position as the executive of your company and the primary employer of your workforce. While you will enter into a close working relationship with the PEO, they will be under your instruction regarding the operation of your business.
The Role of the PEO
While you maintain your position as the head of your company, your PEO will function as your HR services provider as well as enable you access to discounts on employee benefits. In their role as your HR team, the PEO will function under your guidance to provide services that can include:
- Performance evaluations
- Handling disputes
- Handling payroll
- Dealing with tax withholding
- Administration of benefits
- Dealing with unemployment claims
While you can choose to have your PEO handle perform all of these services, you can also choose to keep any of the above functions in-house. You retain all company control while the PEO works to support you and your business in whatever manner you see fit.
Businesses That Frequently Partner With PEOs
The benefits of choosing to partner with a PEO will vary slightly depending on the industry in which your company operates and the size of your business. Despite any differences, you will likely find that a PEO can provide you with some level of assistance, no matter the size or function of your company.
Because of this ability to benefit businesses in a wide variety of positions, the companies that commonly partner with PEOs can differ greatly and include:
- Small companies with 10 employees or fewer
- Medium-sized companies with 11-100 employees
- Large companies
- Not-for-profit organizations
Why Work With NetPEO Over the Competition
NetPEO is a unique PEO company founded by a team that already had decades of experience within the PEO and Human Resources Outsourcing (HRO) industries. When we founded our company, we strove to stand out from the competition. To accomplish this task, we looked at what other PEO companies were doing right and what they tended to get wrong.
One of the main areas in which we found other PEO companies to be lacking was in their customer service skills. While most of the PEO companies we observed were not lacking in technical expertise, they did often fall short when it came to customer service.
Because of this, we have made it our mission to ensure that we provide top-level client support to our partner companies. We listen to the needs of each of our partners and ensure that we are providing them with the best service possible. Contact us today by phone or through our online contact form to learn more about how we can help your company grow and get a free quote.