Why Should Your Company Consider a PEO?
Unless you run a one-person operation, chances are your company has employees. And with employees comes the wonderful world of human resources, which entails everything from payroll and workers’ compensation to benefits administration, medical leave, and more. Many companies outsource the payroll component to a large data processing company such as Paychex or ADP, use insurance brokers to handle their insurance needs, and rely on in-house employees to handle the rest of their human resources functions. While this approach has been par for the course for many years, the reality is that the disconnect leaves lots of room for error. What’s more, using a different provider for each component of your larger human resources web means that whoever handles your in-house HR must juggle many moving parts.
If any of this is hitting close to home, you’re not alone. Countless businesses have made the switch to working with a PEO after learning about the many benefits they offer. A PEO, or professional employer organization, is an entity that is specifically designed to simplify the complicated and often-tedious nature of human resources in today’s business world. By delegating your payroll, insurance, risk management, benefits administration, and more to a single, third-party entity with experience handling such tasks, you are free to focus more on the day-to-day dealings of your business. Moreover, you can have total confidence that your human resources tasks will be handled with the utmost expertise, and that important information will not fall through the cracks when passing from your insurance broker to your payroll provider and so forth.
Also, working with a PEO gives your employees access to better healthcare benefits. By pooling together the employees of all the companies they represent, a PEO is able to create an aggregate workforce that gives them much more bargaining power when it comes to negotiating the cost of benefits. This means, when small and medium-sized businesses partner with a PEO, their employees gain access to better benefits packages that would otherwise only be available to workers of much larger corporations.
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To learn more about why your company should consider using a PEO, contact JanusHR today. We are based in the Tampa Bay area and proudly serve businesses across a wide variety of industries.