Is Your Company Too Large or Small for a PEO?
Many business owners are hesitant to explore working with a professional employer organization (PEO) because they think that their company may be too large for a PEO to accommodate, or too small to warrant such a partnership. However, many different factors go into determining whether working with a PEO might benefit your business, so to know for sure, it’s best to schedule a consultation. In the meantime, below are some scenarios that can help you identify whether a PEO partnership is right for your company.
Is Your Company Growing Fast?
The faster a company grows, the more employees it needs. As more and more employees are hired, the web of human resources grows exponentially. Suddenly, there are more resumes, more interviews, more hiring, sometimes more turnover. Also, the more employees you have, the greater the chances are that one of them may require some form of disciplinary action. This may not be the most pleasant thing to think about, but having a solid framework in place for how to deal with such situations is invaluable. Not only can a PEO like JanusHR assist with hiring and onboarding new employees, but they can also provide valuable strategic planning and risk management services to help you identify potential pitfalls of your specific industry and implement ways to effectively work around them.
Do Your Employees Have a High Risk of Being Injured on the Job?
In general, riskier jobs have much higher workers’ compensation premiums. One way to lower this cost is to implement safety programs, offer training opportunities, and hire a safety manager. The problem is, insurance agencies often don’t provide assistance with these workplace safety measures, making it difficult for business owners to make workers’ compensation premiums more affordable. PEOs, however, can typically help with safety procedures and user manuals, as well as implementing Drug-Free Workplace Programs and things of that nature.
Do You Process Your Own Payroll?
Processing payroll, even for a moderately sized workforce, can take a lot of time and energy. Add to that additional payroll complications, such as pre-tax benefits deductions, commissions, wage garnishment, or multiple-state tax filing, and processing your payroll in-house can quickly become a full-time job. PEOs provide comprehensive payroll services, so you can rest easy knowing that your employees are paid accurately and on time, and that all local, state, and federal taxes are properly deducted and processed.
Get Started Today
To learn more about how a PEO partnership can benefit your business, contact JanusHR today. We are a full-service PEO based in the Tampa Bay area, and proudly service businesses of all sizes across a variety of industries.