As a business owner, you are constantly looking for ways to streamline your business, save money, and dedicate more time to expanding and developing your products or services. A Massachusetts employee leasing company, like NetPEO, can provide solutions for you to help keep your business running effectively, giving you the freedom to work on what matters most to you and your company.
The Businesses that Benefit the Most from an Employee Leasing Company
Small- to medium-sized businesses in Massachusetts that do not have the manpower, resources, and money to handle all of the human resources (HR) issues should consider seeking the assistance of an employee leasing company. Any business owner will tell you that what takes up the bulk of their time and attention is not the main purpose of the business; rather it is the management of the day-to-day nuances and details that keep a business moving.
Payroll, accounting, benefits, taxes, compliance issues, and the recruitment of talent are all necessary aspects of a business, but all these take time to accomplish successfully. Many smaller-scale businesses cannot afford to take this time from their frontline operations in providing goods and/or services to the public.
What Is an Employee Leasing Company?
With an employee leasing company, your Massachusetts business can get all of the benefits of a qualified and knowledgeable workforce while dealing with none of the day-to-day administrative tasks that come with the hiring of employees. Through an employee leasing company, you will onboard talented individuals that can provide the talent and work you need to ensure that your business is successful, with the employee leasing company overseeing everything from payroll to benefits to the recruitment processes.
An employee leasing company allows you to manage and control the work carried out by the leased employees, with their hours and payment, as well as other administrative responsibilities, dealt with by the leasing company. As such, you need not worry about incorporating these employees into your payroll, administering their benefits, or dealing with compliance concerns (U.S. Department of Labor). In short, your business will pay the employee leasing company, which will, in turn, pay the employees for their work and handle everything associated with that task.
What Does an Employee Leasing Company Do?
To fully understand how an employee leasing company can contribute to your business and its goals, it is important to know exactly what their responsibilities entail. Some companies may choose to use an employee leasing company for the whole of their workforce or only for a portion of it. Whatever your needs, an employee leasing company, such as NetPEO, can customize the options you are looking for to set your business up for success and meet your demands.
The services provided by an employee leasing company can include the following:
- Recruitment, new hire processing, the creation of training manuals and handbooks
- Overseeing HR regulations and changes in the law to ensure compliance
- Identifying affordable benefit options for employees, such as healthcare coverage or retirement plans
- Handling the payroll and tax requirements
- Offering affordable worker’s compensation solutions for your business
Common Misconceptions about Employee Leasing Companies and Professional Employer Organizations
For many small- to medium-sized businesses, using a professional employer organization (PEO) or employee leasing company is a no-brainer. With little time and money to spare, business owners are looking for solutions they can implement quickly to ensure that their business continues to run at an affordable cost. However, some business owners can be somewhat hesitant to relinquish the control of a certain aspect of the employment of their workforce to another company.
Indeed, there exist common misconceptions regarding the arrangement between a business and an employee leasing company or PEO. Above all, business owners may think that these organizations will somehow have full control or power over their hiring and firing needs, as well as the performance required from the hired employees.
In fact, the PEO or employee leasing company will not interfere with the way you run your business in any way. In short, you will run the business, delegate the work, and evaluate the performance of the employees. It is up to you whether the individuals you hire through this arrangement will continue to work for you and what their responsibilities will entail.
The Advantages of Employee Leasing in Massachusetts
The bottom line for most business owners when it comes to any services for their business is whether they will help the business run better and whether they are affordable. The main purpose of employee leasing companies is to reduce the strain and burden experienced by smaller businesses. As such, there are many advantages to contracting a Massachusetts employee leasing company.
Saving Time on Training New Hires
When you seek out the recruitment services of a PEO, you can narrow down your search to the top talent for your industry, both quickly and effectively, without wasting time on unqualified candidates. Every administrative type of task and responsibility that you delegate to an employee leasing company is one less item on your checklist, allowing you to get back to doing the work that makes the difference for your business.
Skilled Experts for Payroll and Human Resources Issues and Saving Money
Smaller companies that do not have the money to implement an HR or accounting department run the risk of making costly mistakes that will be detrimental to their business. An employee leasing company can connect you with top experts in HR, payroll, and benefit coverage to help you manage your business accurately and efficiently. Lower benefits costs, savings on worker’s compensation insurance, and avoiding costly penalties for compliance issues are all examples of how an employee leasing company can save your business money and increase your profits.
Contact NetPEO to Find Out How We Can Help Your Business
If you are seeking a Massachusetts employee leasing company, we at NetPEO are ready to answer your questions and help your business come up with a customized plan of solutions that will ensure that your company succeeds and grows. Contact us for a free no-obligation quote on the services we can provide you and your business.