Outsourcing HR for Business Efficiency

OFF
peo insurance

A professional employer organization or PEO is a company that allows a business to outsource aspects of its HR department. Depending upon the company, a PEO can tackle all the HR needs of a business or simply some areas like PEO insurance for employees. While handling the overhead tasks that can slow down efficiency within a business, a PEO company still allows the business to have complete control of things run and employee tasks.

PEOs Provide Payroll Organization

A business controls how and when an employee clocks in, and they are also responsible for reporting those hours to the PEO. Once this information is received, the PEO can process payroll, retirement benefits and workers’ compensation payments.

PEOs Provide Regulation and Procedures

By having employee policies in action, a business can decrease liability concerns. PEOs can provide guidance when handling compliance concerns and regulatory paperwork.

They can also help business managers develop and implement procedures regarding:

Discipline
Termination
Employee Drug Testing
Recruiting and Hiring

PEOs Provide Insurance

PEO insurance can cover workman’s compensation insurance through its interactions with payroll, but other policies offered by PEOs include:

Employment Practices Liability Insurance (EPLI)
Health Insurance
Unemployment Insurance

Running an efficient HR department can require a lot of time and resources. For small businesses that may not have the manpower or technology to handle all its HR tasks, a quality PEO can be beneficial.

This post was written by , posted on July 27, 2019 Saturday at 8:46 am