If you’re looking to devote more of your resources to increasing the profitability of your business, a PEO company can relieve you of HR duties. A PEO (Professional Employer Organization) offers human resources outsourcing services to its client companies. Businesses in North America and Europe have all benefited from various kinds of HR outsourcing according to the many surveys conducted.
HR responsibilities are perhaps the most important and resource consuming tasks any company has to carry out. That’s where the PEO comes in. It takes over the HR responsibilities of businesses, helping employers to focus on the more important or relevant needs, such as increasing productivity, and exceeding expectations of customers.
Services offered by PEOs or employee leasing organizations generally include:
• Payroll and tax administration
• Employee benefits management
• Workers’ compensation administration
• Human resources administration
• Risk management
• Regulatory and government compliance
• Recruitment and selection solutions
• Employer liability management
• Immigration compliance
PEOs cover just about every responsibility involved in managing HR. The PEO generally enters into a co-employment relationship with the client company. This gives the PEO responsibilities over the employees. Employers only need to hand over the work to their staff at the workplace. The PEO would take care of motivating the employees to perform to expectations. All other aspects, including administering employee benefits and maintaining employee relations are the responsibility of the PEO.
This gives employers the time to focus on the operational side of their business. This means that employers need not devote their attention and resources to any HR responsibility. A PEO company can be of great assistance to small and medium businesses that may not have the resources to run an independent HR department. So, if you’re in charge of a business, this is how a PEO company can relieve you of HR duties.
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