When it comes to any business, owners and leaders face a list of demanding responsibilities that are necessary for the business to operate smoothly. And a lot of those responsibilities, especially when it comes to growing businesses, are HR related.
From employment issues and complicated compliance updates, it’s easy to get overwhelmed. When that happens, those HR to-dos can distract you from your more strategic, revenue-generating projects and initiatives. This is where a professional employer organization (PEO) can come in as a partner to assume many of your employer related HR responsibilities, freeing up time for you to focus on bigger-picture goals.
Use the infographic below to learn how a PEO can help you create more effective and streamlined HR practices so your business can thrive.
Explore more in depth below:
5 big benefits of joining a PEO
1. Access to comprehensive benefit plans
Partnering with a PEO means that your employees can gain access to comprehensive benefit plans that are comparable to those found at large companies. This may include:
- Health insurance
- 401(k) retirement plans
- Healthcare FSA/HSA programs
- Life/disability insurance
2. Relief from payroll and HR administration overload
Pass off your daily HR duties – like administering benefits, managing employee paperwork, processing payroll and tax reporting – to a group that specializes in HR. This also may include:
- Payroll processing
- Tax reporting and deposits
- Paycheck/paystub prep and delivery
3. HR-related government compliance assistance
It’s your PEO’s job to constantly monitor changes to state and federal labor laws that could affect your business, as well as advise you on what actions you need to take to comply. For example, a PEO can help specifically with:
- Unemployment claim adminsitration
- OSHA, employment verifications, etc.
4. Workers’ compensation coverage and claim resolution
Specialists will guide you through the process surrounding work-related injuries, including monitoring claims and assisting injured workers’ return to work. A PEPO can assist with everything from workers’ compensation coverage and safety programs to claim management and return-to-work programs.
5. A go-to team of experienced HR professionals
Whether you need help with feuding employees or an EEOC claim investigation, PEOs employ knowledgeable professionals who can provide guidance on sensitive employee-related issues like:
- Employee-relations support
- EEOC investigation, reporting and mediation
- Employee training and development
- Employee handbooks
Summing it all up
When thinking about the HR relief that you need, considering all the different ways a PEO can support you is a great way to start. According to NAPEO, the growth rate of PEO worksite employees is 14 times higher compared to the U.S. economy growth rate in employment overall. Finding the right PEO can make the difference when it comes to your companies growth over time. Learn more about what to look for when choosing a PEO by downloading your free guide, A buyer’s checklist: How to compare professional employer organizations (PEOs).