What Services do PEO Companies Offer?

A PEO company can be an excellent option for a small or medium-sized business looking to outsource some of the most important parts of the company. The HR department can be a costly investment and such things as employee benefits can be even more costly for a standalone business.

Here are some of the services that PEO companies offer and how they can benefit your own business. Keep reading to learn more about one of the best outsourcing options available to small businesses!

Recruiting New Employees

The recruiting and onboarding process can be exhausting, to say the least. Sifting through endless applications, setting up interviews, conducting those interviews, and having to make a choice between candidates takes up a lot of time; especially when you’re not getting good candidates and your interviews are less than hopeful.

A PEO service can help solve this issue and help you save time and energy that otherwise would have been spent searching for your next qualified candidate.

PEO services will handle the interview and application screening process. You can still perform the interviews if you wish, but some companies will handle that part, too. Some business owners prefer to meet their new employees via interview, but you can trust your PEO service to choose only the best candidates for every position.

If you’re in the Empire State and struggling to find the best candidates in your area, you can use Retireat21.com to find the best PEO Companies in New York.

Setting Up Payroll

If you don’t want to worry about setting up payroll, direct deposits or sending checks, filing your payroll taxes, and more, you’ll need the help of a PEO service. You’ll find that each of these tasks is handled with care by your PEO service, so you can be certain you’re staying in compliance, paying your employees properly, and maintaining a standard of excellence.

Many small businesses struggle with getting payroll correct, as it’s a detail-oriented process and involves great care to remain in compliance with the law. If you find your business struggling, don’t be afraid to seek out the services of a PEO company to make things that much simpler.

Handling Employee Benefits

Often, small businesses get the short end of the stick when it comes to benefits for their employees. Being a standalone small business, you likely won’t have access to competitive insurance rates and retirement options. Working with a PEO service gives you access to much better options, since PEOs are a pool of small businesses, and thus, can command far better rates than a standalone business.

You also won’t have to worry about managing any of those benefits if you outsource with a PEO. With better insurance rates, you’ll not only save yourself and your employees money, but you’ll also be able to attract far better candidates with competitive benefits packages. One of the most important factors in a potential candidate’s decision to apply with your company will be how good your benefits package is; so it becomes something of a necessity to ensure your business can beat out the competition when it comes to benefits.

Compliance

Staying in compliance with the local, state, and federal guidelines for payroll, benefits, and workplace safety is of paramount importance. Falling out of compliance can cost your business money in the form of penalties, fines, or lawsuits from injured employees, and you’ll develop something of a reputation that could cost you business and qualified employees. Compliance is everything in business, and you don’t want to stake your entire business on a simple compliance issue.

PEO services will work to ensure that your safety standards (among other things) are up to par, and that you’re paying all of your taxes and reporting to the right agencies. The tax process for a business can be confusing, so it’s nice to have a professional organization on your side to handle the administrative side of things.

Training

What busy business has the time or resources to create, manage, and implement a full-fledged training program? A PEO service can help your business create an effective training program for new and seasoned employees alike, which will benefit you in the long run.

Better training not only means happier employees, but also a safer, and therefore, more secure workplace. You don’t want to develop a reputation for having ill-trained employees who don’t seem to know what they’re doing! Let your PEO service manage your training efforts to make your business more effective and efficient.

Workplace Safety Management

Alongside the proper training falls workplace safety; keeping the building up to par, ensuring machines are well-maintained, and all of the paperwork that accompanies the safety program at your business. Safety should be a top priority for any business, especially those in particularly risky industries like manufacturing.

Keeping your workplace safe not only reduces the risk of a lawsuit or insurance claim but also makes your business a better place to work. Making your employees feel valued by protecting their physical safety can help foster an important level of trust between you and them.