Put More Hours Back in Your Week By Outsourcing These Six HR Functions
Pressed for time? So is everyone else, especially those of us who manage people. HR functions take time—lots of it. And if you’re a small business owner, time is the very thing that’s always in short supply.
What can you do about it? Cloning yourself isn’t an option—yet—and hiring more staff members may not be in the cards either. But that doesn’t mean you don’t have options. Outsourcing your most time consuming administrative tasks to a PEO puts hours back in your week that you thought were gone forever.
Here are just six of the ways outsourcing can give you back your life:
Payroll
Payroll eats up hours each week. But what if you could hand off payroll record maintenance, compliance, W-2s reports, garnishments and the rest to someone else? A PEO can make that happen.
Compliance
Staying on top of employment law and compliance regulations can seem like a full-time job. In fact, for some people, it is. Your PEO employs compliance management experts who make it their business to keep you compliant with current legal requirements so you don’t get stiffed with heavy fees and fines.
Filing Taxes
For many small businesses, the first quarter of each year gets lost in a whirlwind of tax documents and forms. When you partner with a PEO, you enter a co-employment agreement where the PEO will manage and file your taxes under their employer identification number. That means they will handle tax withholdings and take care of your tax obligations on your behalf. And you get Q1 back.
PTO
Tracking PTO doesn’t have to involve an endless flow of emails, notes, and signatures. You may not be ready to invest in a new HRIS platform, but your PEO can help you out with technology that tracks and manages PTO for you.
Training
Wondering how to get more out of your training program without spending all your waking hours on it? Talk to your PEO. They will usually provide an online learning management system so you can assign training modules, track completion, and develop handbooks. They may also provide live training seminars as needed.
Answering Questions
You love your employees, but answering the same questions about benefits and pay stubs over and over again can get tedious. Your PEO empowers employees by giving them access to key HR functions and information via the employee portal. The PEO will usually also provide a point person to answer employee questions about things like benefits and payroll. Voila! No more emails about how much PTO Susie has accrued or how to add a beneficiary to Max’s benefits plan.
Hours each week added back into your schedule. Sound like a dream come true? Then consider partnering with a PEO to manage administrative HR functions and save yourself time, money, and sanity.
Ready to take the next step? Use our PEO matching tool to find your perfect PEO partner based on the specific needs of your business!
