When you agree to partner up with a PEO, you are agreeing to co-employment. A co-employment is a business arrangement wherein a company allows a PEO to handle all of its HR activities while the employer focuses on day-to-day responsibilities.
A PEO can be as involved or as hands-off as you need it to be. If you already have a pretty solid payroll department, you may want to lean more on a PEO for things like benefits and insurance. You can also trust a PEO to handle taxes and other financial matters to ensure your company complies with both state and federal laws.
You may feel suspicious at first about putting your employees’ personal information into the hands of a company you don’t even know. This is understandable. One of the things we do best here at NetPEO is to help you find a PEO with whom you feel most comfortable, and who fits the needs of your business. We do the research so you don’t have to, and so you can focus on what matters most: growing your business.
Call NetPEO today at (678) 376-1212. Let us help you find that PEO who will ultimately change your business for the better.
How a PEO Can Boost Your Human Resources Department
It’s harsh, but it’s true: you just don’t have time when you run a business for certain things. For some companies, Friday is their busiest day. It’s also payday. If an employee has a discrepancy with their paycheck and you’re busy trying to serve your customers, you won’t have the time to fix your employee’s paycheck until Monday. Most employees won’t be patient enough to wait that long.
This is where an arrangement with a PEO can save your business by helping you retain employees. Some employees rely on that check every week, and they don’t have the patience to stick around after someone makes a mistake. They’re going to find a company that will treat them better — and then you’re stuck looking for someone to fill that role.
Now you have to find the time to both find and train someone new. And this all results from a lackluster (or non-existent) HR department who could have caught the mistake in the employee’s paycheck before it happened and possibly prevented that employee from leaving. When you task a PEO with handling these concerns for you, they are no longer concerns at all.
Worker’s Compensation Claims
Speaking of dissatisfied employees, what would happen if one of your employees got hurt on the job? Sure, he would file a worker’s compensation claim, but what if you’re not up to date on your policy? Now you’re going to incur fees from not keeping your policy active.
Add to that the concern that the employee may find you negligent for the accident and sue you. All it takes is one lawsuit to put a company out of business. This is something many companies simply cannot afford.
A PEO can help you in this situation as well. Not only can a PEO handle your worker’s compensation and policy for you, but they can file all claims and policy paperwork timely and correctly. A PEO can also help you find the right insurance policy to protect you in the event of a lawsuit, so your business doesn’t end up underwater. When it comes to compliance, there is nothing a PEO can’t handle.
Health Insurance and Other Benefits
A business arrangement with a PEO can get you better rates on a benefits package than you ever thought possible. This is especially true for small businesses that often have to pay higher rates on benefits packages due to having smaller groups. A PEO can combine groups and submit them to one insurance company to get the best possible benefit for those groups — and you could be one of them.
You may be thinking: I already offer my employees a benefits package, so I don’t need this perk. But a PEO can possibly get you a better package at a cheaper rate, and with more incentives. Are you able to offer your employees educational discounts or life insurance? If not, a PEO can help you incorporate those into a bigger, better package for you and your staff.
You probably already feel exhausted at the thought of hiring someone new. Training can be an exhausting, draining process, especially for a smaller business. However, you can trust a PEO to take care of everything for you, from creating the job post that helps you attract new talent to training them once they’re there.
Finding a PEO Arrangement You Can Trust
A PEO can be a lifesaver for businesses, both large and small, who are struggling to maintain a well-oiled HR department. A PEO takes away all these stresses, from taxes and payroll to worker’s compensation claims and training new hires. You can have an à la carte or full-service relationship with a PEO — it all depends on what you want and need.
Either way, our team at NetPEO is ready and able to help you find the PEO that will benefit your business the most. Call us today at (678) 376-1212 for a free analysis of your business, which we will use to match you to the best PEO from the hundreds available. And if it’s a swing and a miss on the first try, we won’t quit until we find you the perfect match.
Call us today, and let us help you change your life for the better!