THREE WAYS SMALL AND MEDIUM SIZE BUSINESSES BENEFIT FROM A PEO
What is a PEO? The acronym stands for Professional Employer Organization(s)â€”companies that provide expertise in human resources functions, as well as the experienced staff to undertake such endeavors on behalf of clients. Organizations of this nature often combine PEO offerings with HR consulting services, providing a wide range of human resources capabilities. Their target market isn’t typically towards large companies and although they may provide consulting services to help on a specific area, big companies tend to have their own HR department established. The businesses that really benefit from PEO and HR consulting services are usually small to medium sized; the companies that are growing but lacking the HR resources to move forward without the risk of stumbling. Turning to a professional HR firm provides the knowledge, the process and often the staffing to establish the human resources capabilities needed to move forward, while allowing the client’s management team to focus on growth.
When it comes to HR consulting, what types of services do businesses look for help with? Every business has different needs, but here are three of the most popular areas:
- Payroll Services – As a business adds staff, payroll administration becomes much more onerous. Software to manage payroll functions can be expensive to purchase and requires a significant implementation process, not to mention: staffing. As companies grow, payroll moves beyond simply issuing pay checks and involves more complex issues such as deductions for child support or levies, payments for uniforms or health care plans, payroll taxes, tracking of employee absences, direct deposit capability and in-demand services such as PayCards. In addition, management will need access to reporting and the ability to quickly and easily track all payroll-related costs.
- Workers’ Compensation Administration – Just because a company is small doesn’t mean it can “wing it” when it comes to Workers’ Comp. HR consultants are often called upon to provide safety training classes for employees, to ensure client compliance with HR regulations (through safety audits) and to handle program administration, including injury claims. Being fully compliant with the requirements of Workers’ Compensation Insurance ensures the company and employees are protected.
- Job Descriptions and Recruitment – As companies grow, formal job descriptions are an important step to ensuring all needed functions are covered and the staff is performing as expected. HR consulting firms provide the expertise needed to make sure certain jobs defined correctly. They also provide the experience to undertake recruitment when expansion requires additional staff. With detailed and accurate job descriptions in place and consultants who are skilled at recruiting, interviewing, negotiating and performing background checks, the company’s management can continue to focus on strategic growth instead of worrying about where and how they’re going to find the qualified individuals to meet demands.
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This article was sponsored by National PEO, LLC. National PEO is a leading provider of PEO services to hundreds of companies all over the US. Let us handle the burden of Payroll Services, Benefits Administration, Worker’s Comp, and Human Resources for your company. Contact us today to request a quote!
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