December 22, 2021
That's what a PEO company can do for your business.
An HR department might be a nice idea to have in the office of today's "ideal" remote business world. What are you supposed to do if your company has less than 100 employees? If you're not an accountant or a lawyer — the chances are that even with all your experience and expertise on payroll and benefits, keeping track of US compliance (and other country-specific requirements) becomes too much work to handle yourself.
When you're looking for professional help with HR, you want a partner that goes beyond basic payroll, tax, and benefits administration. You also want a partner who guides you to address on-trend employee challenges like mobile workforce management or data security.
Payroll, employee benefits, HR, tax administration, and regulatory compliance are some of the many services PEOs provide to growing businesses around the globe. Companies that partner with a PEO grow faster, have lower employee turnover; and are 50 percent less likely to go out of business.
With more businesses taking on contractors to help them with their workload, hiring a Professional Employer Organization (PEO) is becoming increasingly popular among business owners. PEO's provide benefits and tax savings for employers, but are they worth it? The answer is yes if you are looking for a high level of service combined with payroll administration and HR management.