If you’re looking for a way to make your HR-related challenges easier to deal with, perhaps you should check out some of the best PEO providers on the market.
PEO (professional employee organizations) providers supply human resource services to businesses. Chiefly, they contractually share some of your responsibilities as an employer. PEO services generally include payroll, benefits, regulatory compliance assistance, worker compensation coverage, and HR support and expertise.
Often, PEO providers seamlessly take the place of an internal human resources department. Here are some of the things they can do for your business:
- Retaining employees on the PEO provider’s books, but under your management
- Offering significantly better benefits to employees
- Attracting and improving retention of top talent
- Easily allowing access to specialized HR expertise
- Letting you focus on your core business
- Reducing risks from regulatory compliances
Arguably, the biggest advantage of PEO providers is that they can offer the exact volume of HR services that you need. Not only that, but they also give you and your employees access to an intuitive platform where you can get all the information needed.
What to look for in a PEO provider?
While choosing best PEO providers, it’s a good idea to keep a list of all the HR functions that your organization requires and then match them to the features list of the PEO.
Generally, these are the features that PEO providers offer:
- Accreditation to regulatory bodies (like ESAC, IRS, BBB and other)
- Automation of payroll and payments, for full and part-time employees as well as one-off payments
- Paid time off management and calculation
- Automatic direct deposits for both full and part-time employees
- Payroll tax regulation features
- Employee benefits
- Insurance handling
- Keeping up with changing legislation and providing compliance assistance
- Assessing employee requirements and proactively searching with professional recruiters
- Employee relations management
- Workplace training and employee growth and development
- Unemployment insurance and worker compensation coverage
- Centralized software solution with access to support
- Compatibility with your existing accounting software
- Access to specialized HR expertise