What exactly can a professional employer organization do for you and your business? Many businesses know that there’s a range of services and solutions out there, but may not quite understand exactly what’s being offered, or to what extent employee leasing services can really help. Use this guide to start to learn more about the field of PEO services.
The basic place to start and what most people associate with PEO services is that of administrative outsourcing. This is basically the role of everyday office work, and tasks ranging from paperwork and filing, to phone calls, and other daily office tasks. You may not need a highly qualified person here, just a capable and reliable person who can get the job done in a timely and consistent manner.
However, this isn’t where PEO solutions come to an end. It’s really just the beginning of what type of task or role a professional employer organization can take on. You can bring in high-end, expert level assistance and trained professionals who can handle very specific and important matters.
For instance, one of the most common ways to utilize employee leasing companies is for workers compensation insurance. You can often get far better rates than you could otherwise, while also moving all the time, hassle, and stress of managing that department externally. PEO services may also include handling a range of other employer regulatory needs and requirements for your state.
PEO payroll services are another one of the most commonly utilized functions. This includes not only the actual payroll, which means setting up accounts and automatically processing payments and so forth, but also payroll taxes that need to be filed. Further, in addition to payroll taxes, a professional employer organization can also handled unemployment taxes and fees, and once again, get a superior rate than you could get otherwise.
PEO services also include overall human resources. This is a broad area which also incorporates some of the aforementioned roles, but also includes more of the routine office and employee management needs. In addition, this may also include employee health plans, as well as entire comprehensive employee benefits packages and programs. The same theory applies as above, you get better deals, you get experts in the field to come in and handle it for you, and you remove the hassles and logistics from your plate.
Clearly, there are many different types of services that employee leasing companies can provide. If you’re considering taking the next step, work with a professional who can help guide you through the process and ensure you find the right professional employer organization in your local area, for the right price.