As a small business owner, you have a lot on your plate, not to mention a lot of responsibilities. Just because you have a smaller amount of staff, doesn’t mean your job gets any easier, in fact, it can even be more time consuming since small business owners tend to multi-task as much as possible. Perhaps you’re looking for a way to alleviate some of your responsibility and stress, but if you’re new to running a business you may feel lost at where to begin.
One option you can consider is Human Resources Outsourcing (HRO), which can prove to be an incredibly effective and useful solution. This kind of service is offered through a Professional Employment Organization (PEO), which are able to offer high-level services from experienced and skilled personnel without you having to take part in training and hiring.
What Can They Do for Me?
Specifically, one of these organizations can help you with such tasks as payroll and employee benefits. This is an area that is always changing so it can be hard for a small business owner to stay on top of the current information. And let’s face it, if you’re running a small business there’s a good chance it was your job to look after these benefits. Imagine the sense of relief you would have as you pass this job off to someone who is more skilled, and who has the time to dedicate to it.
How Popular Is It?
If a PEO is sounding better and better than you should know you're not alone in that thought process, as there are currently over 700 PEO companies just in the United States alone as of 2010 (according to Wikipedia). Many of these companies allow businesses to customize the services they want and need, making them extremely versatile.
How does a PEO help?
A PEO streamlines your payroll, employee benefits, and workers’ compensation as well as HR administrative tasks. You gain access to Fortune 500 benefits, Pay As You Go Workers’ Compensation insurance, expert HR guidance, and payroll. The PEO reduces your cost, frees up your time to focus on your business and helps you attract and retain the best talent.
To learn more about how a Professional Employer Organization can help your company request a copy of our Intro to PEOs.