If you're considering outsourcing your payroll tasks, you should consider using a Professional Employer Organization (PEO). When you work with a PEO company, you get far more than the confidence of knowing your payroll is being done accurately—you get the peace of mind of knowing all your HR administration is being handled efficiently and seamlessly.
How can using a PEO provider for your payroll benefit your business? Here are just a few reasons:
A PEO saves you money. The team at the PEO consists of human resource specialists and accountants familiar with the latest tax and labor laws and insurance regulations. This means you can be confident your payroll will be accurate and glitch free even when laws and regulations change—and this saves you the time and expense of correcting payroll issues.
PEOs make payroll convenient for everyone. Working with a PEO company makes paying your team—or getting paid—easier for everyone. Depending on the your preferences and the PEO you partner with, the PEO can set up direct deposit for paychecks, secure online time reporting and recordkeeping for your employees, customized checks, and more. Your team will appreciate the convenience, and you will appreciate the freedom of not having to worry about whether everyone's getting their checks.
PEO companies offer way more than just payroll services. When you work with a PEO provider, you get your own outsourced HR department. And this means you're free from much of the non-revenue-generating activity that can eat up your workweek.
PEOs shop for and administer all your employee benefits, including health and workers' compensation insurance, to ensure you save time and money while getting the best possible value for your employees. PEO companies track vacation time and handles new-hire and termination paperwork, and can even help you ensure your facilities comply with OSHA and ADA requirements. In short, with a PEO service, you can end the guesswork over whether you're in compliance with all the rules and enjoy the pride in knowing your employees' needs are protected.
PEO services give you back valuable time. With the PEO handling all your payroll, benefits, and other human resource needs, you'll get back hours of valuable time back every week to invest in your business. Not only will you have the confidence that all your HR paperwork is done correctly, you'll have the time and freedom to focus on developing your team and growing your business.