Small businesses are a vital part of the economy in Port St. Lucie. That doesn’t mean its an easy job to run one of these businesses, especially as you grow. While every business wants to grow, there are increasing responsibilities that you’ll have to take on as your business expands.
Rather than handle all of the HR responsibilities on your own or hiring a dedicated in-house HR team, you can turn to a Professional Employer Organization (PEO) to help simplify your life. PEOs can offer solutions for individual aspects of your business’s HR needs, or they can serve as a complete replacement to a traditional HR department.
With nearly a thousand PEOs operating nationally, finding the right one for your Florida small business can be a highly involved process. Fortunately, NetPEO is a PEO broker working with businesses just like yours in Port St. Lucie. Our brokers work with you to find a PEO partner with the tools and experience that you need to continue growing your business.
Services You Can Get When You Sign Up with a PEO
If you’ve never partnered with a PEO or have only used one for a limited number of HR functions, you may not be sure how the process works or what services are available. Your partnership with a PEO starts with a contract known as a co-employment agreement. This agreement spells out what services the PEO provides and how you will pay for those services.
Employee Recruitment, Training, and Retention
As part of your co-employment agreement, your PEO partner can help you with a wide range of functions aimed at recruiting, improving, and keeping your employees. The HR professionals at your PEO can provide you with recruitment strategies to attract the strongest candidates and can even perform initial phone screens for applicants.
Once you’ve recruited a new employee, your PEO partner can be responsible for all the necessary onboarding to get your new employee up to speed. This can range from handling the initial hire paperwork to making sure the employee receives an employee handbook.
Want your employees to grow with your business? Your PEO can help create training curriculums and even help make arrangements for your employees to get new certifications. Not only will your employees be more productive in the workplace, but they may be less likely to leave. This will save you thousands in lost productivity that comes with having to recruit a replacement.
Processing Payroll and Benefits
One of the most time-consuming parts of HR administration is handling employee payroll and benefits. This is worse if you don’t have access to the right software or just don’t have the time to handle it yourself.
Fortunately, there is a PEO solution that’s right for you and your business. As part of your PEO partnership, you can gain access to the latest and greatest software to handle your payroll and benefits needs. Would you rather hand the process off to someone else? Your PEO can record hours worked, calculate all your employees’ withholdings, and can even cut checks on your behalf. You’ll also have access to all the payroll reports you could need to keep up-to-date on your payroll expenses.
One of the other benefits that come from signing a co-employment is that you and your employees can have access to better health insurance. As the employer of record, the PEO takes on your employees for accounting and legal purposes. This means they can be pooled with other employees within the PEO’s network, allowing for a greater pool to share the risk for insurance companies. This translates to lower premiums and the option of more robust insurance packages.
Making a PEO Work with Your Budget
The cost of working with a PEO is likely to be substantially less than hiring an in-house HR team and equipping them with the latest software. Most PEOs offer two possible payment structures that are designed to fit your budget.
- Flat percentage of payroll
- Flat fee per employee
What payment option works best for you will depend on how your payroll is distributed. If you only have a handful of employees, especially if they are highly paid, a flat rate per employee may make the most sense. Conversely, you can compensate for a high number of employees by opting for a flat percentage of your total payroll costs.
Trust NetPEO’s Brokers to Help Your Business
According to statistics compiled by the National Association of Professional Employer Organizations (NAPEO), around 175,000 businesses across the country have turned to PEOs for their HR outsourcing needs. If you’re ready to see what a PEO can do for you and your business, call one of our Port St. Lucie PEO brokers at (678) 376-1212. We’ll find out more about your business and your HR needs and we’ll help connect you with some of our PEO partners that offer the services you’re looking to get.
Our services come at no cost to you, so call or use the form on this website today!