What is a PEO?
Understanding Professional Employer Organizations (PEOs)
A Professional Employer Organization (PEO) is an outsourced partner for small to medium-sized businesses that has been around for roughly 40 years. Their role, while complex, is relatively straight forward. Provide resources to small businesses to reduce employee benefit cost, offer comprehensive human resource solutions that can help reduce risk and make small businesses stronger by handling critical aspects of employee management and compliance, allowing you to focus on the key tasks that help grow your business.
Services Offered by PEOs
Human Resources
Management
Human Resources Management
Recruitment and onboarding
Employee relations
Performance management
Training and development
Payroll
Processing
Payroll Processing
Accurate and timely payroll administration
Tax filing and reporting
Wage garnishment management
Direct deposit and pay card options
Employee Benefits
Administration
Employee Benefits Administration
Health insurance
Retirement plans
Workers' compensation
Additional benefits (e.g., dental, vision, life insurance)
Regulatory
Compliance
Regulatory Compliance
Labor law adherence
Workplace safety regulations
Equal Employment Opportunity (EEO) compliance
State and federal reporting requirements
Benefits of Partnering with a PEO
PEOs offer convenience. Most of what you need to manage employees in one tidy location, with a lot of potential bells and whistles to give that fortune 500 feel to be competitive, while potentially even saving you money due to the PEO sharing of resources with all small businesses to give far better buying power. There is predictability in costs year over year to manage your expenses and peace of mind with comprehensive HR services to keep you running correctly with multi-state compliance.
Cost
Savings
PEOs leverage economies of scale to offer competitive rates on benefits and insurance, often resulting in significant cost savings for your business.
Risk
Mitigation
By staying current with employment laws and regulations, PEOs help reduce your exposure to potential fines and legal issues.
Improved Employee Attraction and Retention
Access to better benefits packages makes it easier to attract top talent and keep your valuable employees satisfied.
Focus on Core
Business
Outsourcing HR tasks frees up your time and resources, allowing you to concentrate on strategic growth and development.
Expertise on
Demand
Gain access to a team of HR professionals without the overhead of building an in-house department.