Professional Employer Organizations: Can They Help You Grow Your Business?
R 597
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Professional Employer Organizations: Can They Help You Grow Your Business?
Feeling overwhelmed by all the payroll and human resources rules and regulations that you have to abide by? And the time required to recruit, hire, train, and pay employees, deal with benefit programs, collect and remit payroll taxes, and file all the appropriate federal, state and local tax reports? Partnering with a Professional Employer Organization or “PEO†may be your answer.You may not have heard of a PEO before, but a growing percentage of businesses (particularly small businesses) are joining up with a Professional Employer Organization. A PEO can relieve you of a good deal of the burden of payroll processing, employee administration, and risk management concerns, giving you more time to focus on growing your business. If you haven't been able to afford to set up benefit programs for your employees, a PEO can help with that too. PEOs act as your “co-employerâ€, and by pooling your employees along with the employees of the other companies that have partnered with them, they're able to provide workers' compensation insurance and comprehensive benefit programs to you at very reasonable rates. As your co-employer a PEO can also take on the majority of the risks involved in staying in compliance with the various payroll and employment laws and regulations. Basically, a PEO will take over the time-consuming tasks involved with payroll and human resources administration. You still have complete control of your daily operations and the direction in which you want to take your business.Take a look inside for a detailed discussion of the pros and cons of partnering with a Professional Employer Organization. It could be the best move you can make for the future of your company.