4 Goals Your Business Can Accomplish with a PEO
Today, more companies than ever before are choosing to use the services of a Professional Employer Organization (PEO). A PEO allows your business to outsource its HR functions, including payroll and benefits administration. A PEO program may also provide a local human resources professional who gets to know your organization; in turn, he or she can then access the administrative, technological, and legal expertise of the PEO to help keep your company running smoothly and compliant with all regulations. Here is a closer look at the four things that you probably didn't know about a PEO.
You Can Outsource the Demanding Administrative Aspects of HR
Managing human resources tasks – from processing payroll to administering employee benefits plans – takes a significant amount of your staff's time. It's a process that requires attention to detail and ongoing diligence to ensure accuracy. With a PEO, you're able to completely outsource the process to ensure that your employees are paid, offered the appropriate benefits coverage, and that all recordkeeping is completed with ease. By combining HR knowledge and the latest in integrated human resource management platforms, HR administration is made simple and stress-free.
You Can Stay in Touch with Changing Regulations
Today's regulatory environment is constantly changing. It's important that your company have access to a knowledgeable human resources professional and in some cases, specialized HR or business counsel. A PEO can assist you with staying on top of changes that affect your business, including Healthcare Reform, COBRA and State Continuation Coverage, Minimum Wage regulations, Safety/OSHA requirements, Workers' Compensation, and State Unemployment Insurance.
You Can Plan for Better Employee Management
Consistent and effective employee management is important for maximizing productivity, minimizing risk, and offering employees the best experience possible. A PEO helps you take an active role in managing your employees in several ways. The first is by helping you develop and customize an HR handbook for your business, with legally reviewed policies that help protect your company. An integrated human resources management system (HRMS) allows employees to access self-service information 24/7 and gives managers access to important business data. A PEO can also help with your employee training needs – whether in-person or through streamlined online delivery.
A PEO Assists with Benefits Selection and Recruiting Tasks
A PEO can also help with the benefits selection process – whether you're working to ensure the plans you offer meet minimum regulations or you're actively searching for the best plans to offer your team. Your assigned HR professional can help you find competitive quotes for all kinds of insurance programs, from health insurance to disability. You can also contract for additional services through a PEO, from background screens to customized employee discount programs. Whether you're seeking ways to streamline your operations or add value for your employees through additional benefits, a PEO can help.
Professional employer organization (PEO) services are sold and provided by Paychex Business Solutions, LLC (PBS) and its affiliates, which are registered and licensed to sell and provide PEO services, including in Florida. PBS FL license numbers are Paychex Business Solutions, LLC, GL7, PBS of Central Florida, LLC, GM14, PBS of America, LLC, GM46, Paychex PEO I, LLC, GM455, Paychex PEO II, LLC, GM456, Paychex PEO III, LLC, GL193, Paychex PEO IV, LLC, GM519 and Paychex PEO V, LLC, GM 522.