Professional employer organizations (PEOs) are popular with small- to medium-sized businesses because they offer great value to those businesses. One of the most popular PEO services is obtaining and administering employee benefits packages. Instead of having an adversarial relationship, PEOs and insurance brokers can cultivate a relationship that is beneficial to both parties. The first … Read More »
A professional employer organization (PEO) provides human resources, payroll, benefits, finance, regulatory, and administrative assistance to small- and medium-sized businesses. When you work with a PEO partner, you can engage all of their services or just choose a few. With a PEO, you don’t have to have an in-house HR person if you don’t have … Read More »
It’s a little-known occurrence, but there are professional employer organizations (PEOs) out there engaging in “scooping.” This occurs when the PEO charges their agreed-upon percentage of the employee’s full salary, pays the required taxes on the lower, post-deduction salary, then takes the remaining money. It’s legal, but it is certainly unethical and unacceptable. How Scooping … Read More »
Professional employer organizations (PEOs) provide valuable human resources, administrative, and finance support for small- to medium-sized businesses. When business owners can rely on a PEO to handle payroll, compliance, and benefits, they can focus on their actual business. PEOs prove so beneficial because they provide a team of professionals with specialties customized to the needs … Read More »
When it comes to being able to offer your employees health insurance, your options can feel vast and limited at the same time. Between federal and state requirements and the cost of health insurance, this process is overwhelming for small business owners. PEOs have access to custom health insurance policies. That can be a boon … Read More »
When a business enters into a partnership with a professional employer organization (PEO), it also enters into a co-employment relationship. The two companies share legal obligations and responsibilities in regard to the employees. The business owner(s) continue to own and maintain all business operations, but for the purposes of processes such as payroll, obtaining and … Read More »
More than 175,000 small- and mid-size businesses across the U.S. utilize Professional Employer Organizations (PEOs) in some form or another. So, PEO agreements are quite common. There are PEOs in all 50 states and they are a practical resource for companies across industries. Just one call to NetPEO at (678) 841-7195 can connect you with … Read More »
When you hire a PEO to help you with your business, you may be wondering what kind of responsibilities they have. For instance, does the IRS recognize a PEO as your staff’s employer? Or is that still your responsibility? One question you may have is whether your PEO is required to have an active workers’ … Read More »
You may be considering teaming up with a PEO to help your business. While this is undoubtedly a great decision, you may be feeling worried. How will it work to change from your current system to a PEO arrangement? Will there be any interruptions in your business? Will your employees have interruptions in their payroll? … Read More »
If you’re worried about how a PEO arrangement could affect control of your employees, you first need to decide what you want your PEO to handle. It can be a full-service package, but it doesn’t have to be. For instance, do you want your PEO to handle tasks that directly affect your employees, or would … Read More »
No matter whether you run a small or a large company, every company can benefit from the kinds of workforce solutions a PEO can provide. And which solutions you choose to take advantage of is entirely up to you. Maybe you want a PEO to be as hands-on as possible, handling all the minutiae so … Read More »
When you’re concerned about how a PEO arrangement will affect your employees, you first must consider how your business is affecting your employees right now. Do they have top-of-the-line benefits? Do you handle their HR concerns in a timely and orderly fashion? Do they have any concerns that the company they work for is doing … Read More »
A professional employer organization (PEO) can help both you and your employees by making your business a better place to work. And not only can a PEO help you find more qualified candidates, but it can also help you retain employees once you find the good ones. A PEO can help you develop your job … Read More »
Most PEOs are private companies. However, the state in which a PEO does business may have certain laws requiring PEOs to provide audited financial statements. The PEO industry recommends that PEOs routinely provide audited financial statements so that the industry has a more accurate record of the internal workings of each PEO. These audited statements … Read More »
Most professional employer organizations (PEOs) are private companies. Therefore, their financial statements are not available for the public to review. That said, you should still do a thorough job researching PEOs before you decide to partner up with one. Similar to any other business out there, you should be able to find information on a … Read More »
Running a small business takes a lot of work on its own, let alone running a business during a pandemic. Enter COVID-19. Now, things become particularly complicated. You may have already been struggling to find the time and resources to handle HR and accounting tasks. Now, with a COVID-related decrease in income, you may find … Read More »
PEOs do not necessarily need a license to provide your employees with insurance benefits. However, state law may dictate they do, depending on the PEO’s state. Both state and federal labor laws give PEOs their power. Depending on the state, a PEO may only have permission to set your employees up with workers’ compensation or … Read More »
The benefits of a professional employer organization (PEO) to a business of any size are invaluable. Simply put, if you’re overworked, then you can’t tend to every need in a timely fashion. This can cause your employees to lose trust in both you and the company and decide it’s time to find a new job … Read More »
PEOs typically partner with businesses consisting of between 5 and 500 employees. However, companies with as few as two employees have benefitted from a PEO. This is because every business needs an HR department, and every business needs to comply with both state and federal laws. PEOs help with both of these areas. Not only … Read More »
You may be surprised to learn that hundreds of thousands of businesses work with PEOs on a daily basis to improve the way they respond to the needs of their businesses. Specifically, the PEO industry offers support to between 150,000 and 180,000 businesses every year. This translates to between 2.5 and 3.5 million people receiving … Read More »
Hiring new talent is one of the most significant costs for a business. The hiring process is expensive with training and all the things that come with it, and you also must account for any mistakes the new hire makes, which can cause a temporary reduction in profits. Of course, you shouldn’t forgo the idea … Read More »
The short answer to this question is: absolutely not. You only need to buy the products and services that work best for your business. A PEO is great that way. You can have either an a la carte relationship with a PEO or sign up for a full-service package. You can partner with a PEO … Read More »
Every company can use improvement. Staying stagnant is a good way to lose both business and your employees. Even larger, more established companies have areas that could use some help. For many companies, this includes areas like their HR department, or help with new hires. While it may not be as pressing of a matter … Read More »
A PEO is a valuable resource for many businesses. This is because it can be as à la carte or as full-serve as you need it to be. If you only need help with one area, that’s fine. If you need an entire HR department set up for you, that’s fine too. Whatever you need, … Read More »
Data security is an increasing concern for many small business owners. While headlines focus on data breaches at larger companies, cybersecurity statistics suggest that as much as 43% of all cyberattacks are against small businesses. Cybersecurity is thus a pressing concern, both for the sake of your customers and for your employees. If you’re looking … Read More »