Why Would a Business Use a PEO?
Imagine a business environment where your time, energy, and resources are focused on improving your company's bottom line. As a business owner or manager, you no longer have to be an expert on all things human resources, payroll, government compliance, workers compensation, and unemployment. You are free from the threat of severe penalities for being out of compliance with the government in one or all these areas. Beyond that, your time is now free to do what you got into business to do - grow and run your company - and you have instant access to a team of experts in the fields of HR, payroll, employee benefits, and risk management.
There are numerous reasons why a business would outsource the HR and payroll functions of it's business. Consider the following list of benefits to working with a PEO:
Put tested HR policies and procedures in place. | ||
Utilize professional, liability-reducing employee handbooks. | ||
Provide better employee benefit packages. | ||
Take advantage of FLEXIBLE time and attendance systems. | ||
Access a proven bank of job descriptions or have no ones created to fit your unique staffing situation. | ||
Ensure compliance with state and federal laws and regulations. | ||
Obtain guidance on worksite employment issues at any time. | ||
Improve cost control. | ||
Make payroll tax payments on-time and penalty free. | ||
Reduce turnover. | ||
Enhance employee morale. | ||
Attract better employees. | ||
Simplify the management of workers' compensation and unemployment insurance claims. | ||
Expert representation in unemployment and workers' compensation hearings. | ||
Improve risk management to reduce liabilities by offloading employment risk to the PEO. | ||
Access a 401(k) plan to attract and retain better employees. | ||
Increase efficiency and productivity by focusing on revenue-producing activities. | ||
Maintain complete control over your operations, company culture, and workforce. |
From this partial list of the benefits of using a PEO, you can see there are legitimate reasons to outsourcing some or all of your human resources and/or payroll function. All of these benefits share a common theme - they enable you the business owner to stop spending valuable time on strictly overhead-related activities so you can focus on profit-generating ones.
For more information on the benefits of a PEO arrangement, please see:
How Employees Benefit From a PEO?
Who is a Candidate For a PEO?
or contact Select Management. Simply call 1-800-390-4620 ext. 106 to speak with a representative today. You can also contact us here.