In addition to freeing up time for you to focus on growing your business, working with a PEO also brings you a number of other attractive benefits.
Professional Employer Organizations (PEO), partner companies that provide a variety of HR, payroll, benefits, workers’ compensation and compliance services, are often sought after by entrepreneurs who hope to reduce costs within specified areas of business, while also freeing up time to focus on more important aspects of running their companies. However, there are many additional benefits that can be gained from working with a PEO — here are some of them:
1. Attract and retain top talent
Because PEOs manage thousands of employees, they are eligible to buy premium insurance and add-on perks at surprisingly competitive rates. This grants their clients the ability to build attractive benefit packages that draw great new employees and keep old ones coming back.
2. Keep your records in order
Say goodbye to worrying about the upkeep of personnel data. A PEO can manage everything related to your payroll records — punch ins and punch outs, vacation and sick-time accruals, and so on. The best part? They can also provide specialized reports whenever you need them.
3. Evolve your plans along the way
As your company grows, so should the benefit package you provide. One of the best things about working with a PEO is having someone on call who can help you institute any new perks you choose. No need to figure out how to deploy that flexible spending account on your own.
4. Have someone else handle the questions
There are few things more awkward than having to answer a question with a confused shrug. A PEO will not only craft HR manuals for your employees and educate them on policies and produces, they will also handle any questions they have regarding their benefits package.
5. Save yourself from potential mistakes
Handling the paperwork of dozens (if not hundreds) of employees lends itself to making mistakes. Delegate delicate employee claims and regulatory compliance matters (ADA, OSHA, EEOC, etc.) and free up time for focusing on what matters most — growing your business.
In addition to helping businesses save money and increase their overall productivity, PEOs also provide an array of advantages that are conducive to building happier and healthier workplaces. Are you ready to find the PEO that’s right for you? Contact us today!
