The concept of PEO has gained currency in recent times. It has become difficult for a business owner to look after the responsibilities towards his employees and also stay ahead of his competitors at the same time. If preparing payrolls and doing other employee paperwork is bogging you down and you are not able to give your time to more important aspects of your business, it is high time you appointed a PEO to look after employee related tasks on your behalf. Often, the problem is not confined to payrolls and you find that your employee benefits are not enough to attract and retain great workers. Let a PEO become a co employer and sort out all your HR to dos so that you are able to concentrate on your business.
Professional Employer Organization (PEO)
A Professional Employer Organization, or simply PEO, is a firm that is hired by small and medium sized companies to look after their HR related issues. As such, a PEO works for you and can be termed as a co employer. This firm looks after employee benefits and HR management in totality to take off great burden from your shoulders. It delivers HR services that are mentioned in the contract signed by you and the PEO firm. You do not hand over control over employees to this company and continue to manage them on a day to day basis. However, the PEO takes over benefits administration and HR management. Some of the important tasks performed by a PEO are as follows.
- Worker’s compensation, benefits, and their payrolls are some of the crucial HR responsibilities undertaken by PEO
- PEO takes over some of the employer risks
- Health care for employees is also handled by the PEO
- Handling IT responsibilities for HR
- Taking over training of employees in IT
Hiring a PEO is like giving away some of your responsibilities to someone you can trust. You are free from worries of complying with changing HR laws made by the government. You get a lot of peace of mind as PEO takes away burden of HR from your shoulders. But how do you select a PEO that is tailor-made for your requirements? This is where we come into picture. We know the strengths and weaknesses of most of the PEOs working in the country and we can help you find the best of these PEOs to fit like a IT in your case.