By managing many of the HR jobs that you would usually outsource to multiple service providers, PEOs can help you spend less time managing various vendor relationships.
PEOs commonly help their client companies with services that:
Here are three specific advantages to using a PEO.
A PEO can usually give you access to a wider range of benefits options, often at better rates, than what you could access on your own as a small or medium-sized organization.
Through a PEO, your employees gain access to big-business benefits and have a single point of contact for information and questions. This can help you recruit and retain better talent for your organization.
When you join a PEO, your employees may have access to:
Many PEOs can offer you training and leadership development services for your employees, such as an online learning management system containing interactive courses and digital books.
A PEO’s training services may also include live or virtual training seminars.
Through a co-employment relationship with a PEO – your company can effectively and efficiently mitigate a substantial portion of the risk and responsibility associated with having employees, including risks associated with things like:
Most PEOs employ specialists who are responsible for monitoring many employer-related state and federal laws. Armed with this knowledge, the specialist stays abreast of constantly shifting laws, regulations and reporting requirements that impact the services the PEO provides to your business.
To help you reduce risks, PEOs often provide:
Joining a PEO provides you with workers’ compensation insurance coverage. The PEO also manages and resolves injured employee claims in the event of an on-site injury.
To prevent injuries before they even happen, PEOs often offer loss prevention specialists who can review your safety practices and design return-to-work programs.
Supporting your internal HR team, a PEO helps you manage your liabilities as an employer, providing:
Not only do PEOs help their client companies save time. They can also help you save money through:
And when you begin accessing HR services and benefits through a single source, you’ll have a better sense of your overall investment in your workforce.
Here’s what services PEOs can provide to help you reduce costs:
A PEO can help you design the ideal recruitment process that fits your unique business. It may also work with you to:
A PEO can help you design and conduct employee performance appraisals on a regular basis. In addition, to support ongoing performance improvement, PEOs often provide you with:
A PEO can help you develop a strategic HR plan that allows you to make HR management decisions now that will support the future direction and growth of your organization.