A professional employee organization (PEO) provides comprehensive HR consulting services to small and midsize businesses that lack the resources to manage these responsibilities in-house. They can be customized to address the specific needs and budget of your company.
A PEO company can help you manage just about every aspect of your human resources needs, including:
Outsourcing your payroll management to a PEO company simplifies a process that can be both challenging and time consuming. This gives you peace of mind that your employees will always be paid on time and that all payroll matters will be handled seamlessly. A PEO company can address just about any payroll service you need assistance with, including:
Working with a PEO company for your payroll management will save your in-house team a tremendous amount of time. It will also protect you from IRS tax liabilities, as your PEO company will handle all tax compliance matters for you.
It can often be challenging for small and midsize businesses to offer competitive employee benefits packages. These benefits are an important part of the compensation you offer to your employees, and they play a critical role in your ability to attract and retain top talent. PEO companies can leverage their buying power to provide you with access to higher quality health insurance plans at a lower cost to your business than is possible when securing these plans on your own.
By working with a PEO company on your employee benefits administration, you can keep the cost of insurance more affordable for both your employees and your business. These reduced costs, along with the ability to offer better insurance plans, provide a true win-win for your business and your employees.
Hiring decisions are critical to the ongoing growth and success of your company. It’s not enough to find someone with the skills to perform the role (although this is extremely important). You also need to make sure the candidate is a good fit for your company culture and core values. Without strong alignment on culture, you’re more likely to experience higher turnover rates that make it harder to deliver the quality your customers and clients expect.
PEO companies can handle every aspect of the recruiting and hiring process for you, including:
Due to their extensive experience handling recruiting and hiring, PEO companies are often more adept at identifying the right candidates to interview and asking the right questions to determine whether a specific candidate is a good fit for the role and your company’s culture. This significantly increases the likelihood that you get these important hiring decisions right, while freeing up a considerable amount of time for your managers to perform their other responsibilities.
Workforce dynamics have evolved in recent years. It’s no longer enough to provide a competitive salary. Your employees also want to derive fulfillment from their work and feel like they’re part of a company that aligns with their personal values.
For this reason, employee engagement has become more important than ever. A PEO company can provide expert consulting on employee engagement matters, helping you craft a culture and policies that will provide the fulfillment your team needs.
Whether you need assistance creating effective remote or hybrid work policies, establishing the tenets of your company culture and core values, or creating policies that help your staff feel empowered in their roles, a PEO company can guide you through these important decisions. When you have strong employee engagement, you’ll be better positioned to retain your most talented staff longer, which is critical to the ongoing success of your business.
One of the most important services a PEO company provides involves guidance navigating employment and labor laws. State, federal and industry-specific laws are constantly changing and unless your team stays up to date on these regulations, you risk a variety of serious legal compliance consequences, including:
PEO companies have a dedicated team that monitors the changes to labor and employment laws, ensuring your business will always adhere to the latest regulatons. This will give you peace of mind that you’ll be able sidestep any HR compliance issues that may derail the success of your business.
A 401k retirement plan is one of the most important benefits employees expect to receive when they work for a company. Unfortunately, many small and midsize businesses find that managing their employee 401k retirement plan simply isn’t cost-effective. The administrative requirements demand a significant time commitment, and fees for small plans are often high, eating into your available cashflow.
Outsourcing the management of your 401k plan to a PEO company provides a variety of benefits:
You’ll experience several important benefits when you outsource the bulk of your HR responsibilities to a PEO company:
PassioHR offers comprehensive HR consulting services, ensuring we can assist you with just about any human resources matter. Our PEO company offers a unique Elevated Engagement Plus™ Approach focused on helping you create a more successful and inspired organization. We take the time to learn about your unique company culture, as well as the specific goals and challenges impacting your business. This allows us to recommend a customized solution that includes the specific services your business needs to grow and thrive over time.
Contact us today to schedule a free consultation.
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