18 Ways to Simplify Your Small Business HR Department Today
Do you ever feel like you’re caught in a hamster wheel? Every day, small business HR managers deal with liability issues, compliance research and management, tax filing, benefits management, payroll, recruiting—the list never ends.
Running your business requires more than meeting client needs and delivering products or services—much more. And that’s where a PEO comes in.
As we’ve spoken with PEOs about what their clients want most, we’ve discovered some recurring themes.
In this post, we’ll share what we’ve learned about why companies choose to partner with a PEO and how that knowledge can make 2018 your most profitable year to date.
Top Two PEO Benefits For Small Business HR
PEOs offer long lists of services to small business owners—everything from developing your employee handbook to providing legal counsel about employee disputes. But what do businesses value the most from their PEO?
Two things: vendor management and shared risk.
- Vendor Management—Typical small businesses deal with at least eight different vendors to keep the HR department running. Recruiters, payroll companies, insurance brokers, accountants, safety specialists, business providers, training coordinators and other vendors require time for selection, integration, and day-to-day interactions. A PEO assumes the burden of vendor management so you can get back to the business of serving customers and clients.
- Shared Risk—When you partner with a PEO, you enter into a co-employer relationship. The PEO acts as the employer of record and handles payroll, tax compliance, benefits administration, and other administrative HR tasks. As the worksite employer, you run your business operations and manage your employees. This model reduces risk to you as the business owner by sharing liability and responsibility with the PEO.
PEOs make it their business to stay up-to-date on compliance regulations, tax law, legal recourse, safety regulations and EEOC policies so that your business won’t be fined or sued. They also share the risk associated with workers’ compensation claims and employee disputes.
These two benefits alone can boost your bottom line by reducing your risk of lawsuits or fines and freeing you up to focus on business growth.
But that's not all PEOs have to offer.
16 Other Ways a PEO Can Revitalize Small Business HR
Remember the hamster wheel? It’s a PEO provider’s job to get you off the wheel and back on the road to higher profits and stronger growth.
Here are 16 more ways they do just that:
- Competitive benefit packages
- ACA compliance
- Health plans
- Retirement plans
- EPLI insurance
- Payroll processing
- Tax calculations
- Tax filing
- Time and attendance
- Labor and employment compliance
- Workplace safety
- Workers' compensation
- Reporting
- Expense management
- Recruiting
- Employee handbooks
This isn't a comprehensive list--it's just a representation of the kinds of services you can expect from your PEO partner. If you’re ready to get back to the business of profit growth, talk with a PEO about how they can help.
And say goodbye to the hamster wheel--for good!
Looking for the right PEO for your business? Our PEO matching tool creates a customized list of PEO providers based on your size, industry, state, and business needs.
You may also want to check out the following article, 7 Best PEOs for Mid-Size Businesses. See if any of your matching PEOs made the list!
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