For small and medium-sized businesses (SMBs), liability can be a serious concern. While business owners might be committed to creating an advantageous environment for their employees on all fronts, from promoting inclusion to providing competitive benefits, a company’s growing pains often manifest themselves in the form of erroneously filed paperwork or overdue claims. Here’s how you can protect your business from unnecessary risks and penalties by shifting liability to a PEO:
Ways in Which a PEO Can Help You Reduce Your Liability
When choosing to work with a PEO, your company can more efficiently mitigate risks associated with handling delicate paperwork and compliance matters.
Tax Compliance
When it comes to tax reporting, complex state and federal regulations, divergent technologies and manual data entry reign supreme. Save yourself the headache by having a PEO coordinate your tax compliance activities, from preparation to filing. Many of them work with convenient web-based platforms designed to collaborate with their clients in real-time and ensure the timely delivery of critical information.
Employee Verification
All companies must verify the identity and employment eligibility of their employees by filing Form I-9. When you’re dealing with a growing workforce spread out through multiple states, this process is easier said than done. What if you could eliminate backlogs and significantly speed up your onboarding process by automating this process? A PEO can recommend a compliant verification solution that’s right for you.
Equal Employment Opportunity Reporting
Among the stockpiles of paperwork that companies with 100 or more employees must file annually, is their Equal Employment Opportunity (EEO) Report. This report which protects United States employees from facing discrimination in labor domains including wages, firing and hiring of staff, and promotion is as thorough as it is intimidating. It might be a good idea to delegate this delicate task to your trusted PEO.
Workers Compensation Claims
When an employee files a Workers’ Compensation claim, the responsibility for moving the process forward falls partially on the employer. This can entail cooperating with investigators, filing important case information, and taking the necessary steps to ensure the swift recovery and reintegration of the injured party. Aside from being time-consuming, this process is lined with nuances that are best left to the pros.
