As businesses grow so does their behind-the-scenes workload. Oftentimes, when companies experience rapid growth, most business owners find that they 1) don’t have the resources training and skills to keep up with all the necessary tasks, and 2) they don’t quite have the capital to bring on more members to handle all the human resources duties and manage payroll, accounting, compliance assurance, employee benefits, etc. It is in these situations where professional employer organizations (PEO) become a viable option. PEOs can not only help reduce the workload, but they can also help to make the business more efficient and cost-effective.
Here at Sensible Benefits, PEO services are one of our key offerings. In today’s blog, we are going to explain this service and hopefully give you all the information you need regarding PEOs. As leading insurance brokers specializing in employee benefits, we strive to help businesses and organizations navigate employee benefits and insurance, and optimize their business with a broad range of employer services—like facilitating the outsourcing of the bulk of your human resources tasks to a PEO. Read on to learn about professional employer organizations and how they can help your business.
What Is a PEO?
A professional employer organization (PEO) is a company that provides human-resource related tasks for businesses. This might include services like payroll, employee benefits administration, HR management, and other compliance-related tasks. When you enter into a strategic partnership with a PEO, you can expect them to help you:
- Attract and retain talent
- Optimize HR cost and efficiency
- Improve overall efficiency and processes
- Reduce your liabilities and exposure to risks
- Receive a comprehensive solution from one single vendor
How do I pick a PEO?
As with any other business or service, not all PEOs are the same. Properly vetting and researching your options is crucial to finding the right PEO for you and your business. To help you in this important business decision, here are a few things to ask and consider.
- Ask to see the PEO’s accreditations
- Ask for and check references from past clients and customers
- Verify when employee benefits and coverage will go into effect
- Confirm that all of their services meet all regulatory standards and requirements
- Ask about workers’ compensations and who is responsible for coverage
- Inquire about pricing and fixed fee arrangements
- Spend time reviewing the PEO’s client portfolio
Partner With Sensible Benefits for PEO Services
If you are in need of PEO services, we here at Sensible Benefits can connect your business with a reputable PEO. We only work with experienced PEOs that are reliable in delivering high-quality services. When you partner with us, we will not only act as a consultant for your business, but we will also be fierce advocates on behalf of your business, always striving to find ways to improve your business and bottom line.
By partnering with Sensible Benefits, you can expect us to:
- Handle all of your payroll tasks, insurance, employee benefits, compliance issues, and other HR-related tasks
- Take an individualized approach, consider specific requirements, and develop a feasible plan for you
- Offer detailed reports and statements like employee benefits statements
Outsourcing the bulk of your human resources tasks allows you to focus on doing business and day-to-day activities. When you work with a PEO, your company or organization doesn’t lose any of its sovereignty and will remain the “worksite employer”. They will not control day-to-day directions or employee management. They will simply act as the “employer of record”. Contact us today to learn more about our professional employer organization services, employee benefits, insurance plans, and more!
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